FWIW, Berkshire's market price is down 3.7% in the last 7 trading days. Meh, it happens.

But it's worth noting that the trade-weighed US dollar is *also* down 3.7% in those same 7 trading days. So any measurement in US dollars is a bit misleading lately, whether it's Berkshire shares or gold or haircuts. In general purpose purchasing power terms, a Berkshire share is down 7.2% in that short stretch. (and anybody paid in greenbacks just got a 3.7% pay cut)

Prices move up and down. Maybe it will unwind. This is not a thing you can extrapolate. But it's quite a sharp little move.

One simple way to visualize it is to glance at a chart of the price of WIP, which is a basket of non-US inflation protected bonds and generally holds a steady value in terms of global purchasing power. This year it's up (measured in shrinking dollars) from $39.39 to $41.10, up 4.34%. Doesn't sound like much, but it "should" normally be pretty flat.

I expect to see articles in the papers tomorrow about how the Euro has soared, which they will probably ascribe to some speech in Brussels. And gold, which they will ascribe to market panic. This will be just a naive misunderstanding...neither gold nor the euro popped up, the dollar fell.

Jim