Berkshire Hathaway Inc (BRK.B)

[bar1080]

Among CEFs, persistent premiums (somewhat rare) and persistent discounts (traditionally common) have been the subject of debate for decades.
https://www.wsj.com/articles/some-closed-end-funds-seem-to-have-permanent-premiums-11564970976

Princeton Professor Burton Malkiel who wrote the best-seller "Random Walk Down Wall Street" addressed: "The Persistence and Predictability of Closed-End Fund Discounts."
https://papers.ssrn.com/sol3/papers.cfm?abstract_id=686981

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Will BRK's premium end with Warren and Charlie? I doubt it. One might argue that younger, hungrier and tech savvy management might even increase the premium especially if the new guys were open to paying dividends and splitting the shares.

I don't see how BRK's high NAV premium is much different than a permanent high PE ratio some pedigreed wide-moat growth stocks enjoy. Disney, for example, has done fine without Walt.