Subject: Re: Make Berkshire Compound Again!
Alphabet is one of my favourite firms in the world, but the richness of recent valuation levels, to my untutored eyes, seems a lot more than the balm of an 8% discount to Mr Market's current mood.

I do think it will work out fine given time, but other than the formidable resilience of the business itself I don't see a margin of safety in the price.


I recall a lunchtime discussion at work sometime in 2005 about GOOG. One guy said "I cannot see buying GOOGLE it's too expensive, you'd have to have $10,000 to buy a round lot, it makes more sense to buy a $10 stock."
I said "So take your $100 and buy just one share."

Here we are in 2026, GOOG is $355 and has split total 40-1. So his $100 would now be worth about $14,200.

His cheapness made him miss out on a 142 bagger.