Subject: Re: IV versus BV
Maybe use Buffett's highest repurchase IV/BV in which he bought both A-shares and B-shares. Shares in Nov '23 were purchased at 1.51x beginning BV, or 1.37x ending BV for the quarter. I keep hoping that Buffett will repurchase more stock, if only to get an idea of his conservative IV estimate. It makes a good check on our estimates. Buffett knows Berkshire's value better than anyone.

I got 1.47x trailing for that Nov '23 repurchase, but no matter, at the current 1.45x we are lower. They have bought lots at this level.

However, I doubt they are buying just yet. Buffett doesn't seem to buy when there's major uncertainty. They made zero repurchases in April 2020.