By Katherine ChiglinskyWarren Buffetts revamped stock-repurchase policy cant seem to keep Berkshire Hathaway Inc.
from falling.Berkshires stock fell most in 11 months on Thursday as some of its biggest equity holdings, Apple Inc.
and Delta Air Lines Inc., cut revenue forecasts.
The closing price has spent nearly a month below $312,806 -- average price Buffett paid for repurchases in August.
The Class A shares fell to $287,000 on Thursday, lowest since February.Berkshires board loosened buyback policy last year, allowing Buffett and Vice Chairman Charles Munger to repurchase shares whenever they felt prices fell below intrinsic value.
They had previously been limited to buying back stock only when price was less than a 20 percent premium to book value.