Berkshire Hathaway Inc. (A) (BRK.A)

He does not watch this presently for a sell target. He liked owning it so he can attend the Nebraska annual meeting. One of the risks is when Warren and Charlie pass on – what is their plan for succession? He sold it at a nice profit.

Who can afford the A shares? So, buy the B shares instead which are around $200. Maybe Warren Buffet has never split the A shares because he thinks if you want to buy his company, then you just buy it. This forces investors to be long-term holders and not trading his shares. As for succession, he's elevated two people to vice-chair, one running insurance, the other energy. He's been astute, such as buying heavily into names he's loved during 2008. He'll be less involved in owning public shares.

A very large conglomerate with multi-industry exposure, but it is well-run. A great long-term hold. You can’t really go wrong with it.

This has actually underperformed the S&P 500 over the last 3 years. Year-to-date however, the shares have outperformed and are about 6% better than the S&P. In the last few years, in a growth environment, this has underperformed. On a go forward basis, it might make a lot of sense. It really depends on whether we are truly going back into a Value-based environment versus a growth environment.

Buffet has done a tremendous job. This is one of the largest market caps in the world today. It is fairly fully valued, but correlated to an improving US economy.

This is essentially a conglomerate and mirrors the S&P 500 in terms of all the different types of companies. Very hard to see a lot more upside in the stock.

(Market Call Minute) 1.3 times book value and only concern is succession issues.

(Top Pick Sep 29/11, Up 22.95%)