Subject: Re: A hypothetical for brk brother Jim,
HOW, can you respond without mentioning that BRKB buying back 100 Billion of Buffett's shares at 1.3 xs BV, would be very accretive to IV, hence, very bullish news?

I did.
I said presumably the price would settle a little higher.

As with any other buybacks, it's nice, but it takes a huge move like this to make much of a difference to value per share. A few billion here or there isn't really worth paying attention to.

Let's imagine you think a share is actually worth 1.6 times book value these days, so $100bn buyback at 1.3 times book would purchase $123bn in value for $100bn in cash, adding $23bn to the total value of Berkshire.
Shareholders' equity is $649bn, so at 1.6 we're assuming the firm is worth $1039bn before the transaction. An increase $23bn is therefore an increase of only 2.2% in total value. Around 11.8% fewer shares outstanding, so value per share would rise by about 15.9%.

The transaction would drop book per share quite a bit because of the $100bn of cash going out the door, so fair P/B would be 1.93 after the transaction (same valuation level as 1.6 before the transaction).
Perhaps a bit less, as there wouldn't be the firepower for an elephant during the next round of market ructions?

Jim