Subject: Re: BRK Deep Dive by Adam Mead
“Cannot access. What is his IV?”

You won’t like it. Base sum of the parts valuation $385/b. He then adjusts the value of BNSF and BHE to $90bn each to give an adjusted valuation of $404/b.

That’s using 15x earnings, 12x insurance underwriting earnings, includes all the cash, haircut for Apple.

I do it using the Buffett described 5-groves method and get a similar answer.

He thinks buying at that level might get a 10% return going forward. Sounds good to me.