Subject: Re: Approaching 1 Trillion...
Their a reason for people to want to buy puts, as protection, to protect themselves against a further fall in the value of the shares they own, as a sort of floor price. The more people want to buy them, the more they will pay for them, and the higher price I can get for selling them ('writing') this insurance.

Yes. My question actually was a try to find out more about what you think about Berkshire's price:

Does your writing puts mean you think yesterday's weakness is short-lived, that the currently historically unusually high valuation of Berkshire is permanent and here to stay (As otherwise you probably wouldn't agree to eventually having to buy Berkshire at those valuations)?