Subject: Re: Q2 book
Apple may have been sold down materially in q2.

If so, let's hope it was in the last week after the price pop : )
It's not that important in the grand scheme of things, but getting prices around $216 would be nicer than those earlier in the quarter ($165-$196).

When I do my valuation of Berkshire (not my book estimate) I'm using a price for Apple closer to $140, based on a multiple of my eyeballed trend earnings estimate. Maybe it's worth much more, maybe not, but in any case I would rather be pleasantly surprised so I don't like to use too high a multiple.

Jim