Eventually, the risky-stock rally will fade. When it does, investors seeking better deals likely will gravitate to more-plodding value stocks such as Berkshire, said Mr. Howard.

• 最终，高风险股票带来的上涨将退去。霍华德说，这一时刻到来时，寻找更好交易的投资者很可能将倾向于伯克希尔哈撒韦这样更稳当的价值股。