Today, Berkshire Hathaway climbed above $200,000 per share for the first time ever. Through a combination of longevity, intelligent risk-taking, common sense and, most of all, patience, Buffett and his company’s investing prowess have achieved immortality. But it wasn’t always so obvious that this would be the case. from Old School Value: 1941 – Age…

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“Very few beings really seek knowledge in this world. Mortal or immortal, few really ask. On the contrary, they try to wring from the unknown the answers they have already shaped in their own minds — justifications, confirmations, forms of consolation without which they can’t go on. To really ask is to open the door…

Only in the sixth year of your Presidency – and with an intense dislike for your party’s next candidate – would you be off on a golf trip at a time like now. This guy has checked out, pure and simple. Not that there’s anything he can do about any of this stuff, other than…

Lots of talk about the new litany of “headline risks” and geopolitical challenges for the market this summer. As if there’s ever a time when there isn’t a headline risk lying in wait. Give it a rest already. We get it, bad stuff happens. That’s the exact reason investing works in the first place.  …

“Change in character” during this latest sell-off? Nope. No change in behavior at all. A few days of rapidly deteriorating sentiment, then people cool off and the same cast of characters come in to buy the dip. via Savita Subramanian’s Equity and Quant Strategy team at BAML… Source: Clients Buy the Dip  Bank of America…

Cartoon by Harley Schwadron