Oof! BRK.A price to $185

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TomatoTomahto
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Oof! BRK.A price to $185

Post by TomatoTomahto »

I don’t often check my portfolio, but this morning the quoted price for BRK.A is $185. Down $627,215! That’s gonna hurt. (We own one share).
I get the FI part but not the RE part of FIRE.
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TomatoTomahto
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Re: Oof! BRK.A price to $185

Post by TomatoTomahto »

I see it’s a NYSE technical issue. :shock:

ETA: trading halted, so don’t back up the truck.
I get the FI part but not the RE part of FIRE.
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Re: Oof! BRK.A price to $185

Post by smooth_rough »

TomatoTomahto wrote: Mon Jun 03, 2024 9:51 am I don’t often check my portfolio, but this morning the quoted price for BRK.A is $185. Down $627,215! That’s gonna hurt. (We own one share).
I own some BRKB. Day to day its up or down 1%. That's normal. Long term 5-10 years is what counts.
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Re: Oof! BRK.A price to $185

Post by Tamalak »

smooth_rough wrote: Mon Jun 03, 2024 9:56 am
TomatoTomahto wrote: Mon Jun 03, 2024 9:51 am I don’t often check my portfolio, but this morning the quoted price for BRK.A is $185. Down $627,215! That’s gonna hurt. (We own one share).
I own some BRKB. Day to day its up or down 1%. That's normal. Long term 5-10 years is what counts.
I think being down 99.97% is going to impact even the long term performance
Last edited by Tamalak on Mon Jun 03, 2024 10:09 am, edited 1 time in total.
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Re: Oof! BRK.A price to $185

Post by TomatoTomahto »

smooth_rough wrote: Mon Jun 03, 2024 9:56 am
TomatoTomahto wrote: Mon Jun 03, 2024 9:51 am I don’t often check my portfolio, but this morning the quoted price for BRK.A is $185. Down $627,215! That’s gonna hurt. (We own one share).
I own some BRKB. Day to day its up or down 1%. That's normal. Long term 5-10 years is what counts.
What a difference a letter (A or B) makes.
I get the FI part but not the RE part of FIRE.
Hyperchicken
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Re: Oof! BRK.A price to $185

Post by Hyperchicken »

The real question is if you can buy it for $185. :moneybag
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arcticpineapplecorp.
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Re: Oof! BRK.A price to $185

Post by arcticpineapplecorp. »

other stocks, Chipotle, NuScale Power and...Barrick Gold, similarly affected:
https://www.cnn.com/2024/06/03/investin ... index.html
Last edited by arcticpineapplecorp. on Mon Jun 03, 2024 10:11 am, edited 1 time in total.
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Re: Oof! BRK.A price to $185

Post by Stinky »

Hyperchicken wrote: Mon Jun 03, 2024 10:10 am The real question is if you can buy it for $185. :moneybag
I’ll pay $200! :moneybag
Retired life insurance company financial executive who sincerely believes that ”It’s a GREAT day to be alive!”
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PizzaEater
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Re: Oof! BRK.A price to $185

Post by PizzaEater »

Indeed:
Image

Mousing over the exclamation point yields the text:
This Security is Currently in a Trade Halt
jasc15
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Re: Oof! BRK.A price to $185

Post by jasc15 »

I just tried for giggles, and got the following message:
Your market order cannot be accepted right now because the last trade price is not in line with the current bid/ask price. Please change your order to a limit order.
And with a limit order:
The limit price entered is too far away from the last trade for this security. Please correct and re-submit your order.
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Re: Oof! BRK.A price to $185

Post by PizzaEater »

Zooming in to just 1 day of history on the price chart shows that everything was (seemingly) normal until 9:50 AM Eastern. I wonder if the other stocks listed in the article above also went wonky at 9:50 AM.
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Re: Oof! BRK.A price to $185

Post by TomatoTomahto »

Back to real price. Up around $8k for the day. :beer
I get the FI part but not the RE part of FIRE.
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Re: Oof! BRK.A price to $185

Post by rockstar »

TomatoTomahto wrote: Mon Jun 03, 2024 10:42 am Back to real price. Up around $8k for the day. :beer
Wonder who they outsourced their IT to.
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Re: Oof! BRK.A price to $185

Post by 2pedals »

TomatoTomahto wrote: Mon Jun 03, 2024 10:42 am Back to real price. Up around $8k for the day. :beer
You missed your chance to do some TLH.
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Re: Oof! BRK.A price to $185

Post by Hyperchicken »

rockstar wrote: Mon Jun 03, 2024 10:46 am
TomatoTomahto wrote: Mon Jun 03, 2024 10:42 am Back to real price. Up around $8k for the day. :beer
Wonder who they outsourced their IT to.
That is what happens when this guy does not have his morning coffee:

https://en.wikipedia.org/wiki/Peter_Tuchman

(also known as NYSE guy.)
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Re: Oof! BRK.A price to $185

Post by Jack FFR1846 »

BUY!!!!
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Re: Oof! BRK.A price to $185

Post by Nicolas »

TomatoTomahto wrote: Mon Jun 03, 2024 9:51 am I don’t often check my portfolio, but this morning the quoted price for BRK.A is $185. Down $627,215! That’s gonna hurt. (We own one share).
Except for today’s drop how has it held up compared to the S&P 500?
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Re: Oof! BRK.A price to $185

Post by TomatoTomahto »

Nicolas wrote: Mon Jun 03, 2024 11:09 am
TomatoTomahto wrote: Mon Jun 03, 2024 9:51 am I don’t often check my portfolio, but this morning the quoted price for BRK.A is $185. Down $627,215! That’s gonna hurt. (We own one share).
Except for today’s drop how has it held up compared to the S&P 500?
It’s been better at times and less good at times. Tbh, one of the big draws is that it does not pay a dividend. Sometimes I wish we had more than one share. We have too much LTCG to sell, so I hope our heirs get to enjoy a step up in basis.
I get the FI part but not the RE part of FIRE.
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Re: Oof! BRK.A price to $185

Post by Tanelorn »

just another day in the efficient markets.

https://www.cnbc.com/2024/06/03/nyse-te ... rcent.html
rockstar
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Re: Oof! BRK.A price to $185

Post by rockstar »

TomatoTomahto wrote: Mon Jun 03, 2024 11:13 am
Nicolas wrote: Mon Jun 03, 2024 11:09 am
TomatoTomahto wrote: Mon Jun 03, 2024 9:51 am I don’t often check my portfolio, but this morning the quoted price for BRK.A is $185. Down $627,215! That’s gonna hurt. (We own one share).
Except for today’s drop how has it held up compared to the S&P 500?
It’s been better at times and less good at times. Tbh, one of the big draws is that it does not pay a dividend. Sometimes I wish we had more than one share. We have too much LTCG to sell, so I hope our heirs get to enjoy a step up in basis.
That’s why I own it in taxable along with QQQ. Both have less dividend tax drags.
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Re: Oof! BRK.A price to $185

Post by LiveSimple »

jasc15 wrote: Mon Jun 03, 2024 10:14 am I just tried for giggles, and got the following message:
Your market order cannot be accepted right now because the last trade price is not in line with the current bid/ask price. Please change your order to a limit order.
Are you okay to accept the market order, if it was filled at $615 K
Invest when you have the money, sell when you need the money, for real life expenses...
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Re: Oof! BRK.A price to $185

Post by MrJones »

Best time to tax loss harvest.
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Re: Oof! BRK.A price to $185

Post by TomatoTomahto »

MrJones wrote: Mon Jun 03, 2024 11:31 am Best time to tax loss harvest.
At $3k per year, that would have been 2 centuries plus :sharebeer
I get the FI part but not the RE part of FIRE.
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Re: Oof! BRK.A price to $185

Post by samsoes »

Wow, that would have been a great time to sell I Bonds and load-up the truck with Berkshire!
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Re: Oof! BRK.A price to $185

Post by Nicolas »

TomatoTomahto wrote: Mon Jun 03, 2024 11:13 am
Nicolas wrote: Mon Jun 03, 2024 11:09 am
TomatoTomahto wrote: Mon Jun 03, 2024 9:51 am I don’t often check my portfolio, but this morning the quoted price for BRK.A is $185. Down $627,215! That’s gonna hurt. (We own one share).
Except for today’s drop how has it held up compared to the S&P 500?
It’s been better at times and less good at times. Tbh, one of the big draws is that it does not pay a dividend. Sometimes I wish we had more than one share. We have too much LTCG to sell, so I hope our heirs get to enjoy a step up in basis.
The no dividends I admit is attractive but major manager risk here with Warren at 93 and his partner gone already.
Last edited by Nicolas on Mon Jun 03, 2024 11:52 am, edited 1 time in total.
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Re: Oof! BRK.A price to $185

Post by gtrplayer »

smooth_rough wrote: Mon Jun 03, 2024 9:56 am
TomatoTomahto wrote: Mon Jun 03, 2024 9:51 am I don’t often check my portfolio, but this morning the quoted price for BRK.A is $185. Down $627,215! That’s gonna hurt. (We own one share).
I own some BRKB. Day to day its up or down 1%. That's normal. Long term 5-10 years is what counts.
Down 99% one day, up 10,000% the next… stay the course
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Re: Oof! BRK.A price to $185

Post by bongo »

TomatoTomahto wrote: Mon Jun 03, 2024 11:42 am
MrJones wrote: Mon Jun 03, 2024 11:31 am Best time to tax loss harvest.
At $3k per year, that would have been 2 centuries plus :sharebeer
Doesn't quite make sense. You can't buy it back because that would trigger a wash sale...so you buy an index fund at regular price and lock in 99% losses??
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Re: Oof! BRK.A price to $185

Post by TomatoTomahto »

Nicolas wrote: Mon Jun 03, 2024 11:47 am
TomatoTomahto wrote: Mon Jun 03, 2024 11:13 am
Nicolas wrote: Mon Jun 03, 2024 11:09 am
TomatoTomahto wrote: Mon Jun 03, 2024 9:51 am I don’t often check my portfolio, but this morning the quoted price for BRK.A is $185. Down $627,215! That’s gonna hurt. (We own one share).
Except for today’s drop how has it held up compared to the S&P 500?
It’s been better at times and less good at times. Tbh, one of the big draws is that it does not pay a dividend. Sometimes I wish we had more than one share. We have too much LTCG to sell, so I hope our heirs get to enjoy a step up in basis.
The no dividends I admit is attractive but major manager risk here with Warren at 93 and his partner gone already.
There is some of that risk, although there was less when we bought :D I do believe that Warren (we are a first name basis; he calls me Tomato) has done a good job of preparing for it.

Rockstar’s post made me wonder if perhaps I should buy some QQQ in the future. Not recency bias, but our tax bill just keeps going up. It’s a nice problem to have, and I believe in buying the haystack (eg, we have international), but I’m not sure that the haystack of airlines, utilities, banks will contain the next needle.
I get the FI part but not the RE part of FIRE.
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Re: Oof! BRK.A price to $185

Post by nisiprius »

I didn't think anything of it until I heard that about fifty other stocks were affected, and that GameStop was among them. Insert conspiracy theory here.
Annual income twenty pounds, annual expenditure nineteen nineteen and six, result happiness; Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery.
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Re: Oof! BRK.A price to $185

Post by rockstar »

TomatoTomahto wrote: Mon Jun 03, 2024 12:09 pm
Nicolas wrote: Mon Jun 03, 2024 11:47 am
TomatoTomahto wrote: Mon Jun 03, 2024 11:13 am
Nicolas wrote: Mon Jun 03, 2024 11:09 am
TomatoTomahto wrote: Mon Jun 03, 2024 9:51 am I don’t often check my portfolio, but this morning the quoted price for BRK.A is $185. Down $627,215! That’s gonna hurt. (We own one share).
Except for today’s drop how has it held up compared to the S&P 500?
It’s been better at times and less good at times. Tbh, one of the big draws is that it does not pay a dividend. Sometimes I wish we had more than one share. We have too much LTCG to sell, so I hope our heirs get to enjoy a step up in basis.
The no dividends I admit is attractive but major manager risk here with Warren at 93 and his partner gone already.
There is some of that risk, although there was less when we bought :D I do believe that Warren (we are a first name basis; he calls me Tomato) has done a good job of preparing for it.

Rockstar’s post made me wonder if perhaps I should buy some QQQ in the future. Not recency bias, but our tax bill just keeps going up. It’s a nice problem to have, and I believe in buying the haystack (eg, we have international), but I’m not sure that the haystack of airlines, utilities, banks will contain the next needle.
I’m not advocating QQQ. That is what I’m doing to limit my dividends along with BRK.B. There is no guarantee that QQQ will keep up with VOO, but you can count on it being more volatile.
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Re: Oof! BRK.A price to $185

Post by TomatoTomahto »

rockstar wrote: Mon Jun 03, 2024 12:49 pm
[snip…]

I’m not advocating QQQ. That is what I’m doing to limit my dividends along with BRK.B. There is no guarantee that QQQ will keep up with VOO, but you can count on it being more volatile.
No worries, I won’t blame you if it tanks, and I know that it’s been high flying lately. But, we get loads of dividends from our taxable accounts, and maybe that would be a reasonable way to speculate a bit. We are in no danger of running out of money; my wife is still working and I expect to live off at most 1% SWR. Mostly our accounts are for bequests.
I get the FI part but not the RE part of FIRE.
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Re: Oof! BRK.A price to $185

Post by arcticpineapplecorp. »

1. warren musta been trying to back shares like a maniac

2. i can see the movie now:

flash crash 2?

fat finger 2?

the death of some equities?
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Re: Oof! BRK.A price to $185

Post by ccieemeritus »

Now that the technical issue has been fixed, the graph (via Apple stock app) does not show the drop. But there is a spike just after they "fixed it". Apple stock app shows current price last $625k but the "high" is $726k. There's also a spike in volume after the issue was fixed.

I wonder if some people put in market orders during the malfunction, which were executed on this low-volume stock after trading resumed.

I'm guessing but limit orders > market orders. Especially for thinly traded stocks.

Image
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Re: Oof! BRK.A price to $185

Post by WhyNotUs »

People with stop loss set up must be bumming.
I own the next hot stock- VTSAX
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Re: Oof! BRK.A price to $185

Post by rkhusky »

Can you buy/sell fractional shares of BRK.A at Fidelity or anywhere else?
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Re: Oof! BRK.A price to $185

Post by LotsaGray »

TomatoTomahto wrote: Mon Jun 03, 2024 11:13 am
Nicolas wrote: Mon Jun 03, 2024 11:09 am
TomatoTomahto wrote: Mon Jun 03, 2024 9:51 am I don’t often check my portfolio, but this morning the quoted price for BRK.A is $185. Down $627,215! That’s gonna hurt. (We own one share).
Except for today’s drop how has it held up compared to the S&P 500?
It’s been better at times and less good at times. Tbh, one of the big draws is that it does not pay a dividend. Sometimes I wish we had more than one share. We have too much LTCG to sell, so I hope our heirs get to enjoy a step up in basis.
Is converting to B shares a taxable event?
rockstar
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Re: Oof! BRK.A price to $185

Post by rockstar »

nisiprius wrote: Mon Jun 03, 2024 12:45 pm I didn't think anything of it until I heard that about fifty other stocks were affected, and that GameStop was among them. Insert conspiracy theory here.
Found a post for you that will make you chuckle.

https://www.reddit.com/r/Superstonk/s/Ronla06Rhr
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TomatoTomahto
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Re: Oof! BRK.A price to $185

Post by TomatoTomahto »

LotsaGray wrote: Mon Jun 03, 2024 1:34 pm
TomatoTomahto wrote: Mon Jun 03, 2024 11:13 am
Nicolas wrote: Mon Jun 03, 2024 11:09 am
TomatoTomahto wrote: Mon Jun 03, 2024 9:51 am I don’t often check my portfolio, but this morning the quoted price for BRK.A is $185. Down $627,215! That’s gonna hurt. (We own one share).
Except for today’s drop how has it held up compared to the S&P 500?
It’s been better at times and less good at times. Tbh, one of the big draws is that it does not pay a dividend. Sometimes I wish we had more than one share. We have too much LTCG to sell, so I hope our heirs get to enjoy a step up in basis.
Is converting to B shares a taxable event?
No, it’s not a taxable event, but there’s usually a premium for the A shares (due to having voting rights). I don’t intend to sell, ever, that’s for our heirs to do.
I get the FI part but not the RE part of FIRE.
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Re: Oof! BRK.A price to $185

Post by 02nz »

rockstar wrote: Mon Jun 03, 2024 10:46 am
TomatoTomahto wrote: Mon Jun 03, 2024 10:42 am Back to real price. Up around $8k for the day. :beer
Wonder who they outsourced their IT to.
Vanguard, I'm guessing. :wink:
rockstar
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Re: Oof! BRK.A price to $185

Post by rockstar »

02nz wrote: Mon Jun 03, 2024 1:50 pm
rockstar wrote: Mon Jun 03, 2024 10:46 am
TomatoTomahto wrote: Mon Jun 03, 2024 10:42 am Back to real price. Up around $8k for the day. :beer
Wonder who they outsourced their IT to.
Vanguard, I'm guessing. :wink:
Or E Trade? :)

Something was off with the market today. My TQQQ position didn’t maintain its daily 3x throughout the day. This is the first time I’ve seen this behavior. At EOD it mostly corrected.

I wonder if these glitches are related to the T+1 change.

Gonna be careful with orders until the bugs are worked out.
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Re: Oof! BRK.A price to $185

Post by soretired »

Anyone "buy the dip"? :wink:
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Re: Oof! BRK.A price to $185

Post by schmitz »

Apparently some people at Reddit tried to do a market order and pick up a share for $185 but it got filled at $685,000
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Re: Oof! BRK.A price to $185

Post by Pow »

schmitz wrote: Mon Jun 03, 2024 10:23 pm Apparently some people at Reddit tried to do a market order and pick up a share for $185 but it got filled at $685,000
Market orders, no sufficient funds, non-margin accounts. One person did it in what I understand is basically a retirement account.
Crazy.
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Re: Oof! BRK.A price to $185

Post by TomatoTomahto »

Pow wrote: Mon Jun 03, 2024 10:46 pm
schmitz wrote: Mon Jun 03, 2024 10:23 pm Apparently some people at Reddit tried to do a market order and pick up a share for $185 but it got filled at $685,000
Market orders, no sufficient funds, non-margin accounts. One person did it in what I understand is basically a retirement account.
Crazy.
Any of those $185 orders are canceled anyway. It would have been fun to buy a few thousand shares and become a billionaire for a few minutes though.
I get the FI part but not the RE part of FIRE.
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Re: Oof! BRK.A price to $185

Post by TomatoTomahto »

According to Matt Levine,
About a dozen trades in Berkshire Class A shares went off at $185.10 around 9:50 a.m. The stock closed Friday at $627,400. NYSE said any trade between 9:50 and 9:51 at or below $603,718.30 will be canceled. NuScale Power Corp. had a similar glitch, with trades that printed at about 99% below the prior price.
I get the FI part but not the RE part of FIRE.
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Re: Oof! BRK.A price to $185

Post by Gadget »

TomatoTomahto wrote: Tue Jun 04, 2024 2:13 pm According to Matt Levine,
About a dozen trades in Berkshire Class A shares went off at $185.10 around 9:50 a.m. The stock closed Friday at $627,400. NYSE said any trade between 9:50 and 9:51 at or below $603,718.30 will be canceled. NuScale Power Corp. had a similar glitch, with trades that printed at about 99% below the prior price.
The interesting part is that a few on wallstreetbets dumb enough to do a market order on a limited quantity stock actually bought it for well over $603,718 is my understanding. So now they're tens of thousands of dollars negative, sometimes in non margin accounts. It'll be interesting to see who eats that. I'm guessing most of them don't have the funds...
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Re: Oof! BRK.A price to $185

Post by rockstar »

Gadget wrote: Tue Jun 04, 2024 2:18 pm
TomatoTomahto wrote: Tue Jun 04, 2024 2:13 pm According to Matt Levine,
About a dozen trades in Berkshire Class A shares went off at $185.10 around 9:50 a.m. The stock closed Friday at $627,400. NYSE said any trade between 9:50 and 9:51 at or below $603,718.30 will be canceled. NuScale Power Corp. had a similar glitch, with trades that printed at about 99% below the prior price.
The interesting part is that a few on wallstreetbets dumb enough to do a market order on a limited quantity stock actually bought it for well over $603,718 is my understanding. So now they're tens of thousands of dollars negative, sometimes in non margin accounts. It'll be interesting to see who eats that. I'm guessing most of them don't have the funds...
Those should FTD today now that we’re T+1.
jbowman
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Re: Oof! BRK.A price to $185

Post by jbowman »

Gadget wrote: Tue Jun 04, 2024 2:18 pm
TomatoTomahto wrote: Tue Jun 04, 2024 2:13 pm According to Matt Levine,
About a dozen trades in Berkshire Class A shares went off at $185.10 around 9:50 a.m. The stock closed Friday at $627,400. NYSE said any trade between 9:50 and 9:51 at or below $603,718.30 will be canceled. NuScale Power Corp. had a similar glitch, with trades that printed at about 99% below the prior price.
The interesting part is that a few on wallstreetbets dumb enough to do a market order on a limited quantity stock actually bought it for well over $603,718 is my understanding. So now they're tens of thousands of dollars negative, sometimes in non margin accounts. It'll be interesting to see who eats that. I'm guessing most of them don't have the funds...
That is an expensive way to learn the difference between a market and limit order. Ouch :oops:
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Re: Oof! BRK.A price to $185

Post by Thesaints »

All transactions at prices lower than 96.5% (or thereabout) of opening have been cancelled.
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nisiprius
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Re: Oof! BRK.A price to $185

Post by nisiprius »

I think anyone who tried to buy at $185 was doing something ethically questionable. Such a move had nothing to do with any legitimate function of the stock market. It was an attempt to, in effect--ethically and morally--steal $600,000 from the person whose stock they hoped to buy. It wasn't a legitimate difference of opinion on Berkshire Hathaway's future. It wasn't an update in the estimated present value of Berkshire Hathaway's future stream of earnings. It was an attempt to grab some stock that fell off the NYSE truck. What legal area that falls in I don't know, but they deserve some moments of terror and some major financial inconvenience... nasty fees, forced closure of their brokerage account...

However, I hope nobody will commit suicide as a result of seeing a temporary -$600,000 balance (much as twenty-year-old Alexander E. Kearns did in 2020).
Annual income twenty pounds, annual expenditure nineteen nineteen and six, result happiness; Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery.
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