Jessica Harper
by JESSICA HARPER

Missed Short Opportunity in 2023​

30/09/2025 70 0
BRK.A
FACT: Berkshire’s Record Cash Reserves in Q3 2023

In hindsight, Berkshire B was the easiest short of 2023: its insurance operations, despite strong premiums, face rising claims costs (up 10% YoY), and slow growth compared to tech peers (5% vs. 15% revenue growth) suggests underperformance. With a P/B ratio of 1.5x, above historical averages, the stock could correct 10-15% in a risk-off environment.​

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