Berkshire Hathaway (BRK.B) stock is up just 0.78% for the year and is underperforming the S&P 500 Index ($SPX) by a wide margin. However, the stock gained 3.78% over the last month, which not only helped it turn positive for the year but also helped it bridge its gap with the index. With Berkshire jumping sharply over the last month, let's examine the stock's outlook in the back half of the year.
Berkshire stock hit its record high a day before Buffett announced his retirement at last year's annual shareholder meeting. There was always a "Warren Buffett premium" built into Berkshire shares, and after the nonagenarian announced that he would step down as CEO, that premium began to wither.
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