No. of Recommendations: 2
For whatever it's worth, I lightened up a bit yesterday. I sold about 4% of my holdings.
This is surprising. I was going to respond with a bit of retelling of your post a few weeks ago. The one that said we've hit a high multiple to highest book value to date (232 or so) but warned that we've seen a lot of inflation since that book value was released.
I expect to see a new high book value, partially to adjust for inflation since our highest to-date book value, and partially given where Apple was trading at the end of Q2. Whether exciting Q2 results are rewarded with higher market prices, I'm not sure. Berkshire's stock price seems to increase a few percentage points leading up to each quarterly earnings report. Maybe we've already seen the expected increase.
