OPINION: Berkshire Hathaway’s surge to a record high despite so-so results suggests investor bullishness is broadening, despite expensive valuations and economic uncertainty.
It’s often said that Warren Buffett’s sprawling conglomerate, Berkshire Hathaway, is a microcosm of the US economy.
In addition to the Alleghany insurance acquisition, Berkshire boosted profits by buying a truck stop operator called Pilot and the toy company that makes the famous Squishmallows plush toys . What’s interesting about Monday night’s move is that Berkshire hasn’t been one of the big winners of this year’s rally on Wall Street, and its 17.5 per cent year-to-date rise is broadly in line with the rise in the SSo this could suggest that investors are feeling confident enough to move behind the much-hyped artificial intelligence winners – the magnificent seven of Apple, Amazon, Alphabet, Meta Platforms, Tesla, Microsoft and Nvidia – and broadening the rally.
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