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The week's question
In December 2024, in the thread "Re: BRK: Why Not XOM?", BreckHutHigh asked the members: "What about the long road trips with kids?" This week it is put to everyone again. The button below opens the small thread re-asking it - read what others have said so far, then give your own answer as an ordinary reply.
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Stocks A to Z / Stocks B / Berkshire Hathaway (BRK.A)
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Author: Goofyhoofy ✸✹🐝 HONORARY
SHREWD   😊 😞
Number: of 21944 
Subject: Re: o/t, the rise and fall ,and back,of Bill Miller,
Date: 08/23/26 12:33 PM
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Miller’s biggest home run has been Amazon.com. “Bill was highly criticized for not being a true value manager because he had invested in stocks like Amazon,” says McLemore. “I was in an investment club at Washington and Lee [McLemore’s and Miller’s alma mater] when he came to speak, and he pitched Amazon. He said we don’t know what real values are today because it depends on the future and the future is unknowable. But the best values don’t look cheap at the time because their prospects are good. Why would you ever exclude a class of companies that you know are the best values?”

Well this is just patent nonsense. The word “value” means “you know what the value is”. Following his definition I could have plowed millions into Pets.com and Boo.com because “I don’t know what the best values are today but their prospects look good.”

Baloney.

I mean to take nothing away from his success (nor could I if I tried) but quoting this lunacy is just stupid as some sort of way of redefining “value investing.”

Over the years Warren Buffett’s thinking about value investing has evolved closer to Miller’s

No. No it hasn’t.
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This community has written 21,448 posts about Berkshire Hathaway. The article-length ones it recommended most:
BRK: Why Not XOM? · 62 recs · 2024
Second quarter comments · 60 recs · 2023
Berkshire's Profit Contributors · 57 recs · 2023
Summary of 2Q 2026 · 54 recs · 2026
3Q Summary · 53 recs · 2024
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