Subject: Re: Brk, I think it's fair to say that brkb
I'll direct my questions to Jim tho anyone is free to opine.

When Buffett finally authorized the buyback WHY did he include the 1.1xs BV limit knowing the stock would quickly trade above the limit?

I'm not Jim. But I'll point out that Buffett did not know what the stock price would do in the short term, as he has repeatedly and consistently said over many decades. One might have made an educated guess but one could not know.

Two reasons he may have set the 110% of BV upper limit for repurchases:

1) He wanted any partners who were considering selling their shares to know that he thought they would be selling too cheaply at less than 110% of BV.

2) He wanted any partners uninterested in selling (actually, all partners) to know that he had their backs when making capital allocation decisions that would benefit continuing partners.