If you think too much about the stock price, you'll be disappointed with Berkshire. The split in opinions on Buffett's recent performance and his future seem to fall along generational lines. Older shareholders seem to favor the patient, disciplined approach espoused by Buffett, while younger shareholders are more critical of his technophobia. I think with the gains he's had over the years, he can take a few bad years along with it. He says older shareholders are beginning to liquidate positions in retirement or estate settlements.
New shareholders are likely to have a new economy focus.
They will be hard to get into the game without a New Economy bent. As it stands today, finding a new generation of buyers could be a real challenge. On one issue, most shareholders agree. The 1998 acquisition of General Re has not gone as planned. He's got a lot of work to do to make it work.