Berkshire shares look "really cheap"

Berkshire Hathaway's Class B shares should soar 19% to $250 by the end of next year, predicts J.P. Morgan analyst Sarah DeWitt in a CNBC.com report. DeWitt argues the market is ignoring the retained earnings of the companies in Berkshire's $200B stock portfolio, making BRKB "one of the best value plays in our coverage group."

Buffett finally sells California beach house

It's been on the market for almost two years, and it's asking price was cut by $3.1M, but Warren Buffett's Laguna Beach vacation home has found a buyer at $7.5M. Buffett bought the 3600 square feet house for $150,000 in 1971.

This undated photo from daughter Susie shows Buffett and Susan, his first wife, on a terrace at the house.

Last year, CNBC's Robert Frank gave viewers a tour of the property.

BUFFETT AROUND THE INTERNET

• Buffett says that "competition is fine" among the many companies owned by Berkshire, reports Bloomberg. "That's a good thing. That's what brings improvements to society."
  
  
• Stone "hopes to lure" Berkshire as a shareholder, Reuters says, detailing a $1.1B IPO filing by the Brazilian card processor.
  
  
• Neither Buffett nor Bill Gates stayed in the Tennessean Hotel's $3000 per night Governor's Suite when they were in town for a Berkshire board meeting, marvels the Knoxville News Sentinel. It quotes the hotel's sales director as "blown away by how laid-back everyone was."
  
  
• CNBC.com's Make It spotlights Buffett's belief that "If I had been a female, my life would have been entirely different."

HIGHLIGHTS FROM THE ARCHIVE

Criticizing business schools is a favorite topic for Buffett and Charlie Munger at Berkshire annual meetings over the years. In the video clip collection Buffett: Business schools teach "very little of how to value a business," we collect some of their sharpest barbs from the archive.

BERKSHIRE STOCK WATCH

Berkshire Hathaway Class A shares closed at $314,477 Friday, down 5.1% over the previous four weeks, and up 12.0% from one year ago.

Berkshire's Class B shares closed at $209.83, down 4.8% over the previous four weeks, and up 12.1% from one year ago.

The benchmark S&P 500 index closed at 2767.78, down 5.5% over the previous four weeks, and up 8.0% from one year ago.

QUESTIONS OR COMMENTS?

This newsletter is still a work in progress. Please let us know what you think or ask a question at buffett@cnbc.com.