Berkshire Hathaway missed earnings estimates but the stock is still extremely undervalued.  I’m somewhat surprised their underwriting profit wasn’t great despite the benign P&C environment but I’ve yet to dig into the details too deeply.  I’d expect Buffett to do something big in the next 6 months as he has way too much cash, and he seems like he wants to continue buying whole companies more than anything.

http://www.bloomberg.com/news/2012-05-04/berkshire-profit-doubles-on-insurance-results-derivatives.html

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