Berkshire Hathaway filed a 13F showing it owned 106 million Alphabet shares worth $37.9 billion at the end of June. Retail traders who bought Google in their Robinhood accounts two years ago immediately began texting their friends screenshots with the caption "Warren agrees with me."
He doesn't.
Buffett's cost basis remains a complete mystery to the dipsh*ts who think this filing means anything. He could've bought at $80. He could've bought at $150. The filing doesn't say. It never says. But that won't stop Reddit from reverse-engineering a thesis that makes their own entry point look genius by comparison.
Delta also got a boost in the filing. Berkshire apparently believes in airlines again, which means we're exactly one recession away from Buffett calling them a terrible business while selling at a loss. Housing bets went up too. Lovely. The man who said derivatives were financial weapons of mass destruction now thinks particle board and garage door openers are a growth sector.
None of this matters. A 13F is a rearview mirror photo of positions that were established months ago by portfolio managers you've never heard of working three layers below Buffett. The old man was probably eating a Dilly Bar when these trades got entered. But every personal finance blogger will spend the weekend explaining what Warren's "latest moves" mean for your portfolio, as if you and Berkshire operate on the same time horizon.
You don't. Your time horizon is until your spouse checks the account and asks why it's down again. Berkshire's time horizon is until the heat death of the universe or until Charlie Munger's ghost tells Warren to sell, whichever comes first.
The real story here is that filings designed to show institutional positions have become mad libs for idiots who need permission to hold stocks they already own.
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