Subject: Re: IV by the stock repurchase method
At the same time, I think nola622 is generally correct that if a large block of A-shares is offered, Berkshire will purchase them at the current market price if that price is reasonable (even if it is not a discount to intrinsic value).

That certainly makes perfect sense, no argument.

I imagine it sometimes gets hard to nail down what value might be, what might constitute "probably not above the middle of that", and what constitutes a discount, but these things don't have to be precise.

Jim