Subject: Re: BV = 347,932, P/B 1.40x- it's in the zone
But since Berkshire isn't in the business of issuing quarterly projections, forward book value wasn't known until the end of quarter, well past when the purchasing decisions were made.

I might not have the wording exactly right, but the gist:

Charlie: "Warren talks about discounted cash flow calculations, but I've never seen him do one"
Warren: "Some things you only do in private, Charlie".

I expect Buffett knows when Berkshire is in the repurchase zone without doing book value or IV calculations.
He knows how Berkshire is doing in real time.