Subject: Re: The good old days ...
"Now, since we all firmly believe in the value of a share, as opposed to its price, what to do when BRK is overvalued?"

I am in the minority here, but I don't think BRK is overvalued. Don't get me wrong, it certainly isn't cheap. I think someone buying at this level and holding for the next 20-30 years will do ok. I am not sure they will outperform the S&P (but I am also not sure they won't either), but it will be close enough and done with a lot less risk.

Maybe I would call it generously valued instead of overvalued.

That said, I recently lightened up my holdings of BRK, but it is still my biggest holding by far.