Subject: Re: Buybacks have begun
I don't feel like this is an opportunity to even slowly accumulate/back up the truck as I have felt many times in the past twenty five years.

What am I missing?

In my amateurish view: Nothing, apart from regarding Abel managing this huge portfolio the fact that he still has Warren in the background - though unfortunately not forever.

The real test for Greg comes when the whole market finally (this year I think) is going where it belongs (down), when he (though still with Warren´s help) has the chance to let Berkshire really shine again by putting this cash mountain to work.