On Friday, I sold out of Berkshire Hathaway at $4500 a share. I purchase the stake in the fall of 2006 at approximately $3300/share.
In addition, I sold 50 shares of Alleghany at $380 only to watch it skyrocket to $420 at the market close. I bought into Alleghany about a month ago at $310 dollars a share.
The markets are very irrational right now, and the only reason the BRK, Y, and MKL are stock rocketing is because they do not trade options and cannot be shorted. Market makers are unintentionally manipulating the prices given all the AIG activity. The US markets are the equivalent of the Karachi Stock Market where stocks cannot be shorted. So much for the confidence and stability in the US markets…
I still hold MKL, SHLD, SHLD Leaps, and SPY Puts. I purchase the S&P puts to protect against a crash into the next several weeks here.
