There are other tangible benefits to the company of higher markets, beyond the gains on its stock portfolio. Berkshire had almost $1 billion in gains in the first half of 2019 on put options it wrote on several equity indexes more than a decade ago, almost half of which expire this year.
Still, investors aren’t rewarding Berkshire for its stock bets paying off. While the S&P 500 has surged 17% this year, Berkshire’s Class A shares are little changed.
This article was provided by Bloomberg News.