Berkshire Hathaway (BRK) Breaks $100,000

October 6, 2006 3:48 AM

Berkshire Hathaway hit $100,000 briefly during the day, making it the first U.S. stock worth six-figure. Disclosure: I own six class-B shares of of the stock (BRK.B).

From WSJ:

As the Dow Jones Industrial Average hit a peak for a third straight day, Berkshire Hathaway, by far the most expensive stock in the U.S., was marking a milestone of its own, breaking through to a record by passing the $100,000 mark.

The Dow Jones Industrial Average rose 16.08 points, or 0.14%, to 11866.69, led by Caterpillar, Altria Group and Alcoa. The Nasdaq Composite Index gained 15.39, or 0.67%, to 2306.34. The Standard & Poor's 500-stock index advanced 3, or 0.22%, to 1353.22.

Berkshire Hathaway's Class A shares ended the session with a gain of $1,296, or 1.3%, to $98,995, after the highest-priced stock in the U.S. cantered across the 100,000 mark for the first time, reaching 100,100 by rising 2,401, or 2.5%. The investment vehicle is controlled by Warren Buffett, the world's second-richest person after Microsoft's Bill Gates, and holds some 45 companies, ranging from fast-food chain International Dairy Queen to Geico Auto Insurance and Fruit of the Loom, the underwear maker.

Michael Kane of Alpharetta, Ga., was one of the first investors to act after the 100,000 level was breached. Mr. Kane sold six shares, valued at about $600,000, but despite the dollar value, he didn't get socked by commissions. Mr. Kane paid just $33.42 in fees, because the trade was based on the number of shares and not the stock's value.

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