Subject: Re: New post from Brooklyn investor
Buffett's five groves is a way of thinking about categories of value at Berkshire, but it never took us very far towards actually coming up with a number.

I thought he laid it all out quite well in the 2018 letter:
https://berkshirehathaway.com/...

I follow what he wrote, use a multiple of earnings for the subs, include stocks and fixed income investments at market value, subtract some cash that will never be invested.
After discussions here I did add in a % of float for underwriting earnings (1.4% - the 10 year average). It doesn't make much difference.

It's only the last couple of years that the stock price has consistently been above my 5-groves.

So what is the point of all this cash?

Can't find anything to buy so it builds up. I don't think it's any more complicated than that.