Billionaire Warren Buffett announced today that he will give away most of his $40 bln fortune. Basically, he’s giving away all of his shares in Berkshire-Hathaway, the company he built up. About $31 bln worth of  his shareholdings will be distributed through the Bill and Melinda Gates Foundation. (Gates recently announced he’s giving away $30 bln himself, through his foundation.) The rest of his $5-6 bln in shares will be given to Buffett family

Oddly enough, Bershire Class A (NYSE: BRKA) stocks fell $1750 per share in very light early morning trading, then recovered by the end of the day, only falling $600 to $91,500 for the day. Total shares traded: 800.

You read that right. BRKA shares are over $91,000 each. Can you imagine being wealthy enough to own a regular lot (100 shares)? The more affordable Class B (NYSE: BRKB) shares fell $63.01 down to $3,008 per share in the morning. They later recovered, falling only $28.00 for the day.

Those investors seem not to understand the principle here. Buffett will have more time to focus on the company. That’s a good thing. So why sell? But then what do I care? Berkshire has been at the top of my list of stocks that I’ll never own since at least 1991, maybe longer.

Both BRKA and BRKB have been at their highest range ever for the past year or two. BRKA started around 1990 for about $5600 per share. BRKB started around 1996 for about $1200 per share.

Sources: CNBC TV, Discovery Channel, MSN Reuters Business News - Berkshire Stock Falls, Yahoo! Finance - BRK-A, BRK-B.