Who is “they”. I prefer to think I am buying a stock that is priced for further dissappionted and thus has a safety of margin built in. I don’t see the business in terminal decline and I think if I can enter with an average of 85 or even less I think the risk is skewed to the upside. As madamswear highlighted the business has generated cash even while being operationally weak so that says something. All stocks that go down can be consider falling knives. Berkshire shares have declined 40% plus at least 4 times in the last 40 years. As buffet says the stock doesn’t care what you think , and the SP doesn’t necesarily tell you anything. Today it traded at 91 and 82 - 10% difference in market cap from high to low . So did the company change in value by 19m in 6 hrs ? The SP is just a combination of buyers and sellers exchange on a given day.
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