Berkshire Hathaway Inc. is poised to close above $150,000 for the first time as investors bet on Chairman Warren Buffett's ability to steer the company through turmoil in financial markets.
The company's Class A shares have risen 34 percent since Aug. 15, beating the 5 percent advance by the Standard & Poor's 500 Index. Berkshire traded as high as $151,650 today, a record and 100 times the next highest-priced company on the New York Stock Exchange, Nasdaq Stock Market or American Stock Exchange, according to data compiled by Bloomberg.
Buffett may find bargain-priced securities as more than $70 billion in bank losses from bad home loans in the U.S. drive shares lower worldwide. His stock investments generated twice the return of the S&P 500 during the past three decades, according to research by Gerald Martin of American University in Washington and John Puthenpurackal of the University of Nevada, Las Vegas.
``The more chaos there is in financial markets, the better it is for Warren Buffett,'' said Whitney Tilson, managing partner at T2 Partners LLC in New York and a Berkshire shareholder for 10 years. ``Investors are fleeing to safety, and Berkshire Hathaway offers the ultimate in safety.''
Full Article:
http://
www.bloomberg.com/
apps/news?
pid=newsarchive&sid=aXV1MEyTKOlg#
Favoured: 0
