The Stock Market Isn't Going On, but It's Not Going On.

I think charley would argue it's probably not koing to put up hugely outsized returns given the size. I measure the next most recent iteration of berkshire. After they bought gin ree, berkshire stock was extremely expensive, trading at two point nine times book. The common stock portfolio, which was a hundred and 15 % of berksire's book value, was equally expensive. There's a lot of internal capital application decisions that impact people's lives that they don't actually see every day. But because the stock doesn't rip, people think that it's not going on.

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