Bob Kargenian’s Letter Published in Barron’s on November 15

Bob Kargenian’s letter was published on November 15 in Barron’s, a weekly newspaper that covers financial information, relevant statistics, and market developments.

In his letter, Bob says, “Andrew Bary correctly points out that the current cash position of Berkshire Hathaway is a record $311 billion, which is about 31.6% of the stock’s market cap, currently at just over $1 trillion (‘Warren Buffett Is Raising Cash—and Missing Out on the Booming Market,’ Nov. 8). But I don’t agree that Buffett is missing out. He is famous for ‘being fearful when others are greedy.’ That time seems now, when several long-term valuation models suggest that U.S. stocks are priced to deliver low-single digit returns in the coming five to 10 years.”

Read Bob Kargenian’s Full Letter (login required).