Subject: Re: Brk news
Prices in today's dollars with CPI=305.11
I changed the smoothing method by a fraction of a percentage, nothing meaningful, but enough that the numbers won't quite match the old ones.
As before, first column is the smoothed rising value metric (average of two methods) ending on the date shown
second column is average market price in the quarter that the statements came out: the quarter starting with the date shown
2015-06-30 263182 261347
2015-09-30 268355 257476
2015-12-31 273919 255570
2016-03-31 279209 275768
2016-06-30 283980 278203
2016-09-30 288822 289389
2016-12-31 294788 316531
2017-03-31 300996 312442
2017-06-30 307357 329640
2017-09-30 313861 353776
2017-12-31 324728 379308
2018-03-31 334104 358167
2018-06-30 343529 374396
2018-09-30 354330 380498
2018-12-31 362169 366615
2019-03-31 370305 376305
2019-06-30 378719 370215
2019-09-30 388137 385432
2019-12-31 400034 374162
2020-03-31 408526 325629
2020-06-30 415968 363073
2020-09-30 424612 384286
2020-12-31 436704 428431
2021-03-31 448215 485169
2021-06-30 460578 478072
2021-09-30 471610 480047
2021-12-31 485372 527399
2022-03-31 497037 507287
2022-06-30 505649 447830
2022-09-30 513192 462031
2022-12-31 519807 478736
2023-03-31 525374 503397
2023-06-30 532316
This smoothing method, by construction, reacts only slowly to a slowdown in the rate of growth of value.
The two valuation metrics that went into it are real book per share (up only 3.0%/year rate last two years) and my two-and-a-half-column method (up only 0.6%/year in the last two years).
A further slowdown in the smoothed metric is coming, as this slow stretch will be in the averages for a total of four years.
Jim