About a year ago, I commented on an article that appeared in Barron's which argued that Warren Buffett's Berkshire Hathaway (BRK.A) was overvalued. In my post, entitled Barron's Pans Buffett's Berkshire, I agreed with the article that Berkshire Hathaway stock looked overvalued. A lot has changed since then. Berkshire shares have fallen 45% from their high and hit a fresh yearly low on Wednesday at $84,000 per share.

Reuters - A rout in Asia pushed world stocks to their lowest in 5- years on Thursday, while oil fell to below $53 a barrel and safe havens such as the yen gained as economic data indicated a global recession could get even uglier.

Reuters - U.S. auto executives went to Capitol Hill on Wednesday for a second day to plead for $25 billion in government aid, but legislators tried to fashion a last-minute compromise bailout bill that could pass both Congressional and White House muster.

Reuters - The government is investigating if homeowners were misled by California bank and mortgage issuer Golden West Financial, which was acquired by Wachovia Corp -- another possible victim.

Reuters - Class A shares of Warren Buffett's Berkshire Hathaway Inc (BRKa.N) fell more than 12 percent on Wednesday to below $84,000, a 3-year low.