Or a pretty substantial recent revaluation of one of Berkshire's most significant businesses after Insurance: Utilities.

A flat growth industry nationally is now pegged as a double digital longer term growth industry. AI and EVs are here to stay. Demand is assured to grow. A lot. If you own a fund heavily weighted with utilities, your fund went from a boring income vehicle to an ultra-growth fund. So that's reflected in Berkshire's valuation.

Oh, and Berkshire's runaway #1 business, Insurance is not too unattractive these days. The only business where customers do cartwheels to celebrate premium increases of only 12%.

There are are very significant reasons why Berkshire stock is attractive to investors this year, and the earnings outlook is attractive.