Finance Professor at University of Maryland
Contributor's Links: Dr. David Kass Blog

Dr. David Kass has published articles in corporate finance, industrial organization, and health economics. His teaching interests include financial restructuring and strategy, and investment management at the MBA level, as well as advanced financial management, business finance, and investments ... more

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5 Highlights Of Berkshire Hathaway’s Second Quarter Report
Operating earnings declined, cash position increased. Berkshire currently holds $200 billion in equities.
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Kraft Heinz Share Price Trading Below Berkshire Hathaway’s Cost Basis
Berkshire Hathaway owns 26.7%, or 325,442,152 shares, of Kraft Heinz and in 2015 purchased its stake with a cost basis of $9.8 billion, or $30.11 per share.
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Recession Fears Are Premature
Recession fears appear to be premature despite a flat yield curve (3 months vs. 10 Year Treasuries).
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Will Warren Buffett Buy An Airline?
I am quoted in a Bloomberg article: “Buffett’s Course Reversal on Airlines Sparks Talk of Acquisition”.
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Berkshire Hathaway Portfolio Investment, StoneCo Ltd., Up 20% In Extended Hours
StoneCo Ltd. (STNE), a financial technology company in Brazil, is up 20% in extended hours trading at $41.44 on higher than expected earnings. It is now 70% above the IPO price of $24 paid by Todd Combs of Berkshire Hathaway in October, 2018.
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10th Anniversary Of Stock Market Bottom In The Great Recession And Financial Crisis
Today is the 10th anniversary of the stock market bottom of March 9, 2009. Over the past 10 years, both the S&P 500 and Dow Jones Industrial Average have quadrupled.
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STOCKS I FOLLOW

AAPL Apple Inc.
BAC Bank of America Corporation
BRK-A Berkshire Hathaway Inc
BRK-B BERKSHIRE HATHAWAY CLASS B
DXD ProShares UltraShort Dow30
FB Facebook Inc
GLD SPDR Gold Trust ETF
GOOG Alphabet Inc. (Google)
KHC Kraft Heinz Company, The
MSFT Microsoft Corporation
TSLA Tesla Motors Inc.
TWTR Twitter Inc
WFC Wells Fargo & Co.
YHOO Yahoo! Inc.
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Latest Posts
Berkshire Hathaway Is Trading At Price To Book Value Ratio Of 1.33
At Berkshire Hathaway’s closing price on Friday, November 1 of $323,400, and its book value of $243,484 at the end of the third quarter, its price to book value ratio = 1.33, which is 16% below its 30 year average of 1.58.
Lunch With Warren Buffett Costs $4,567,888
The 2019 winning charity bid on eBay for lunch with Warren Buffett was $4,567,888.
Major Portfolio Changes For Berkshire Hathaway In First Quarter 2019
After the market closed today, Berkshire Hathaway filed its SEC Form 13F revealing its stock portfolio as of March 31, 2019. There were several major changes (by at least $500 million):
The Uber IPO
The stock will be trading the next day, the next week, the next month, what’s the urgency of buying today?
Berkshire Hathaway Lends $2 Billion To Seritage Growth Properties
I am quoted in this Bloomberg article: “Berkshire Loans $2 Billion to Real Estate Firm Backed by Buffett.”
Some Berkshire Shareholders Stiffed An Omaha Waitress. So Warren Buffett Sent Her A Check
Despite their waitress’ best efforts to serve a full house of customers, some patrons celebrating the Berkshire shareholders meeting left no tip. Warren Buffett made it right.

Work Experience

Finance Professor
University of Maryland
May 2004 - Present (15 years 9 months)
Senior Economist
United States Government
1977 - 2004 (28 years 3 months)

Senior Positions with Federal Trade Commission, General Accounting Office, Department of Defense, and Bureau of Economic Analysis

Education

Harvard University
Ph.D.
1972 / 1977
Business Economics

Publications