The “Buffett Premium” Disappears

I am quoted in this CNBC article:

“I am actually surprised at the magnitude of Berkshire’s underperformance … especially since Buffett is not stepping down as CEO until Dec. 31,” said David Kass, a finance professor at the University of Maryland and a longtime Berkshire shareholder. “This relative decline may approach as much as 20% in the weeks ahead as some shareholders may become discouraged by Berkshire’s recent price performance.”

Kass said there may be an additional decline in the shares after Buffett departs at the year’s end.