1 Berkshire Hathaway Board Member Just Bought Millions in Stock. Should You Follow?
There's been a lot of consternation regarding Warren Buffett's conglomerate Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B) lately. While I don't necessarily agree with all the criticism, it's not wholly unfounded. During the huge March sell-off, Berkshire, known for its contrarian value bets, didn't buy much of anything. In fact, Berkshire was a net seller of equities amid the rout, exiting Berkshire's airline stocks and selling more of its bank stocks than it bought. As for the technology stocks that have rallied hard since the March 23 bottom? Berkshire didn't buy any of those.
Berkshire's recent paralysis, on top of several years of relative underperformance versus the stock market, has led even some longtime Berkshire shareholders, and one fellow Fool.com contributor, to lose faith in the Oracle of Omaha.
However, it's precisely when many are throwing in the towel on Berkshire that it may be a great time to buy. And at least one Berkshire insider did just that on Monday, buying up millions in Berkshire stock in the open market.
Source Fool.com
