Subject: BRK Expected Returns
What do fellow Shrewds expect BRK returns to be over the next 5 years? I will start with my guess:

I expect the intrinsic value growth to be around 9% per year. But given that its current price is at the high end (or perhaps even slightly above) IV, I expect a compression in its price/ book or price/IV which will subtract 3% per annum over the next 5 years. So, I expect an annual return of about 6%. And if I am wrong, I take the under on that. I assume somewhat "normal" economic conditions (no huge recessions like the GFC, only a mild one).