Berkshire Hathaway Inc. stock has yet to regain the record level of December 2014, when its shares traded at about $151 each.

But that hasn’t deterred value investor Intelligent Trend Follower from buying stock in the storied company run by Warren Buffett, according to a blog post for Seeking Alpha.

Berkshire has declined about 6 percent from its record price to a current level of about $142 for its B class shares. Meanwhile, the S&P 500 stock index has gained about 1.7 percent since the end of 2014.

“I don't think the decline in share price is supported,” writes Intelligent Trend Follower. “I think it's a divergence from fundamental trends. So for that reason, I've started a small position in Berkshire.”

He points to the company’s history of increasing earnings, revenue and free cash flow, and its significant cash hoard. He also likes its stable of diverse brands like Geico, Dairy Queen, Fruit of the Loom and stakes in many other blue-chip companies.

“In times of crisis, Berkshire has shown it's willing to step up and make investments while the world is panicking,” Intelligent Trend Follower writes. “And additionally, Buffett has said he will buy back Berkshire stock if the price comes within 120% of his estimate of intrinsic value. Given Berkshires massive cash flows and current war chest, this is a pretty appealing bid on the stock.”

One of Berkshire’s recent acquisitions is a stake in Apple Inc., maker of the iPhone.
The company purchased 9.81 million shares of Apple in the days through March 14 for about $976 million, Berkshire’s Geico unit said in a document for insurance regulators, Reuters reports.

The holding was initiated by one of Buffett’s investment managers, Todd Combs or Ted Weschler, according to the newswire.

“Though the billionaire’s deputies may deviate from his well-known avoidance of technology stocks, they tend to follow his deeper ideas about investing, including buying stocks at prices where they believe there’s a “margin of safety” — or a buffer against losses,” Reuters says.

Related Stories:

• Buffett Says Winner of a $3.46 Million Lunch Auction Is a Woman
  
• Strategist Lewitt: Warren Buffett's Advice Is 'Detached From Reality'