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Mirvish documents the apparently irrational correlation:
Whatever you may think of how Anne Hathaway and her co-host James Franco did as hosts of the newer, younger, hipper Oscars, one thing appears to be certain: When Anne Hathaway makes headlines, the stock for Warren Buffett's Berkshire-Hathaway goes up.
Think of Berkshire-Hathaway shares (BRK.A) as a really expensive version of the IMDb's StarMeter (which actually is designed to go up and down as actors make the news). But a bedrock member of the New York Stock Exchange? The evidence would indicate as much.
On the Friday before the Oscars, Berkshire shares rose a whopping 2.02%. And on the Monday just after the Academy Awards, they rose again, this time 2.94%. But it's not just an Oscar bounce, or something Warren Buffett may have said in the newspaper, or even necessarily something the company itself is doing (i.e. rumors afoot to buy Costco).
Just look back at some other landmark dates.
In an update on the spritely billionaire it's been reported that Warren Buffett has been diagnosed with non life-threatening prostate cancer.
"My doctors and I have decided on a two-month treatment of daily radiation to begin in mid-July. This regimen will restrict my travel during that period, but will not otherwise change my daily routine" says Buffett.
Read the press release here.
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