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Stocks A to Z / Stocks B / Berkshire Hathaway (BRK.A) ❤
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Author: rrr12345 ✧  😊 😞
Number: of 12641 
Subject: Re: IV by the stock repurchase method
Date: 08/04/2024 1:52 AM
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Three points regarding my post, if I may:
1. I have no argument with Jim's point that Warren appears to be willing to pay somewhat more than 1500x for A-shares than for B-shares.
2. I made an arithmetic error on the implied ratio of IV to starting BV. $660K (5% above the highest repurchase price) is 1.66x the starting BV for the quarter, not 1.61x. The implied IV is correctly stated as 1.58x the ending BV.
3. The implied IV/BV was higher in Q1 than in Q2. Warren paid 1.60x starting BV for the quarter in February and 1.56x ending BV. In March he paid 1.60x starting BV for the quarter and 1.57x ending BV. If these repurchase prices are 5% below IV, then the implied IV is 1.65x BV to 1.68x BV.
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