Subject: Re: A hypothetical for brk brother Jim,
" It's rather moot as there aren't $100bn of shares available for purchase at that price. And Mr Buffett isn't going to reduce the benefit to the foundations for the sake of giving more money to existing shareholders. But it is a fine demonstration that buybacks don't increase value per share very much unless they are both (a) huge and (b) done at a material discount to fair value. They do work, but only at the margin.

Jim"

Thanks, have to prepare for a pickleball match, have a grand day.