Subject: Re: Mr Bloomstran now at $479/B share IV
For me the big thing is that actual fair value and likely market price are pretty far apart. A share of Berkshire is usually somewhat cheaper than what it's actually worth.

Ultimately the fair value has to have some connection to the price, right? Just not to the short term gyrations of the price.

So, are you simply saying that price is below its long term trend more often than above it?