Warren Buffett's Berkshire Hathaway has outperformed the market in the last 3 recessions - and its positioned to do so again in a 2023 downturn, UBS says
Warren Buffett's Berkshire Hathaway has outperformed the market in the past three recessions – and the stock is positioned to do so again if a downturn hits in 2023, according to UBS.
The Swiss investment bank gave a 12-month price target for the company's class B shares of $362, 17% higher than Wednesday's closing price of $308.48. In that same amount of time during the 2007 recession, Berkshire shares lost 24% in value, though the S&P 500 tanked by 37%.
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