What Buffett Meant

I took a position in Warren Buffett's company, Berkshire Hathaway, a few years ago, buying one share of his class-A stock for around $20,000 (yes, one share: $20,000). A while later I was reading the annual letter to shareholders, and Buffet said he did not think the business would keep growing as it had in the past. I assumed that since the CEO of the company did not have faith, why should I? I sold the stock around $30,000, and it's recently been trading around $100,000. Next time I need to read the stock research.

Lloyd F., Raymore, Mo.

The Fool Responds: Shares actually topped $150,000 earlier in the year! You didn't quite understand Buffett. Since Berkshire has grown so big, he simply doesn't expect the company to be able to keep growing as quickly as it has in the past, when it was smaller. He does still expect long-term growth, though. Those interested in the stock should know there's a class-B version, selling for around $3,500 recently.

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