fung_derf Friday, 08/16/19 10:46:30 AM Re: None Post # of 572 Quote:Berkshire Hathaway Inc. (BRK’A) Billionaire investor William Ackman, whose portfolio has gained almost 50% this year, said his fund can keep delivering "high, long-term" returns, and he expects that a newly disclosed stake in Berkshire will help boost gains. Ackman, writing in a letter to clients one day after announcing in a filing the purchase of roughly $700 million of Berkshire stock, said the conglomerate is misunderstood. Berkshire is cheaper than it should be and has understated its near-term earnings, but future earnings can grow significantly, Ackman said. "We believe that Berkshire's share price is likely to increase substantially over the coming years," Ackman wrote in the letter. Ackman singled out Berkshire's insurance business for praise and said it is able to invest a substantial majority of its insurance assets in publicly traded equities while its peers are limited mainly limited to investing in fixed income securities. Just my opinion, of course.