Subject: Re: Reduced significantly
Do those growthy stocks and Constellation Software have better price to book value ratios than Berkshire has?

No but they are completely different types of businesses. I believe ( perhaps mistakenly) they have a higher chance of doubling in 5 years from here but the bets are more risky and therefore position sizes are very small compared to my holding in Berkshire. I'll check back in 5 years to see if the decision to use Berkshire as a source of capital when it got to $530 for these was worth it.

Just as a reference- consider the action of some of Berkshire's principal's. Ajit Jain reduced his holding by 55% at a price of $463 per B. That was also around the price where Buffett stopped buybacks.