Subject: Re: Buffett Previous Buyer at this Book
Thanks, appreciate it and agree on all your points. I agree Buffett surely uses trailing calculation..but as an investor I’m gonna take a leap of faith 9 weeks ahead and identify an entry point just before the entry point hits the printing press. And if 0.10 makes me dumb, I was wrong either way :).

And if the stock runs between now and then—my price is locked in and Warren/Greg is priced out. If I’m wrong— well I eat the 0.10 “premium” and get stuck with a great business I bought at a discount to IV 0.10 less than I should have..there are worse problems I have.

That’s at least how I look at his: very high likelihood of being “generally right”.