Subject: Re: Annual report
I caught this too and I thought it was quite noteworthy. Buffett has indicated he wanted to do purchases at substantial discounts to intrinsic value. I think this opens the door to quite substantial open market purchases of the stock,I would be surprised if Berkshire has not been a big buyer of its shares this quarter.

Abel made it very clear he is not interested in issuing a dividend in the near future, but he clearly opened the door to buybacks. Perhaps a lot more aggressively so than Buffett. We learned a lot.

You guys are wrong about this. The repurchase criterion didn't change one bit from one espoused by Warren. From 2024 10-K, page K-104:

Berkshire’s common stock repurchase program, as amended, permits Berkshire to repurchase shares any time that
Warren Buffett, Berkshire’s Chairman of the Board and Chief Executive Officer, believes that the repurchase price is below
Berkshire’s intrinsic value, conservatively determined.