Warren Buffett Is The “Best Investor Of Our Time,” Says Jim Cramer About Berkshire Hathaway (BRK-B) Downgrade

We recently published 11 Stocks Jim Cramer Discussed, Including A Potential “Worst Stock Ever”. Berkshire Hathaway Inc. (NYSE:BRK-B) is one of the stocks Jim Cramer recently discussed.

Cramer spent quite a lot of time discussing Berkshire Hathaway Inc. (NYSE:BRK-B), which was unsurprising given the stock was downgraded by Keefe, Bruyette, & Woods. It slashed the Class A share price target to $700,000 from $740,000 and downgraded the stock to Underperform. Cramer had a lot to say about the note:

“Warren Buffett’s obviously the best investor of our time. Today Keefe, Bruyette downgrades Berkshire Hathaway to a Sell. They’re talking about GEICO, the big insurance company. May be that their underwriting margins peaked. We saw a bad report from Progressive last week, which you could say is similar. They’re talking about investment, fully short term interest, so all that money that he’s got, not gaining the big interest rate. And now get this David. Burlington Northern inflation adjusted revenue historically corresponded with the US China trade. He said that could be pressured. Probably won’t be. But, I keep thinking about when Joe Hinrichs tried to get a deal, I think he really did from CSX.

“[After David Faber wondered why Berkshire and Burlington didn’t pursue a deal with CSX] And that is to me the crux. Not the insurance issues, you might as well call it GEICO. Big natural gas. But David, I think, that when I heard when they said no, to what I thought was the most obvious deal in the world under this new administration, it made me think, are they in the game? Are they in the game or they just making money off of interest and living on GEICO and the natural gas. And it was worrisome because I thought that that was the most easy deal in the world. Particularly because once you let the other guys merge you can get this Burlington deal done with CSX. It would have been fantastic. Look I’m not gonna ever say that you should sell Berkshire Hathaway. You don’t do that [underestimate Warren Buffett], but I did think it’s curious to see the stock has underperformed. Right but the stock’s, huge. But I felt that this piece was, there you go, look at that, but I thought the piece was devastating in the sense that many things are moving in the wrong direction is what they say. At first, I wanted to dismiss the piece, but I can’t. I can’t dismiss it.”

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Disclosure: None. This article is originally published at Insider Monkey.