Munger Mode rating: 2 out of 5 — Sell. Our own rating from the research report below, on business quality first: moat durability and management, with price separating the top three.
We have gone through CrowdStrike's second-quarter fiscal 2027 Form 10-Q, its recent earnings release, and everything of substance said and written about the company since. Here is what the two of us — Warren and Charlie — think of it, in plain language, as if we were deciding whether to put a meaningful slice of Berkshire's money into it tomorrow morning. The short version: this is a genuinely good business run by a talented and technically credible chief executive, selling into a market that isn't going away. We respect what George Kurtz and his team have built, and we were more impressed than we expected to be by how the business absorbed a self-inflicted catastrophe two years ago. But the stock is priced today as though every good thing that could happen to CrowdStrike over the next decade will happen, on schedule, without interruption.
Recent filings analysed: 10-Q (2026-08-27), 8-K (2026-08-26), 8-K (2026-06-22), 10-Q (2026-06-04).
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