No. of Recommendations: 9
I'm open minded, convince me that Buffett had a serious interest in buying back brk at that time and seriously thought that brkb would trade size below 1.1 XS Bv.
He raised the buyback limit to 1.2 xs BV, to further goose the stock higher to benefit the foundations which enjoyed higher proceeds from sales as a result. His primary interest was to paint a larger canvass, got to shrink the float.
Thanks to anyone kind enough to respond with a little critical thinking. hc, who hasn't been banned here yet!
Don't know why you think you might get banned. For being controversial in your opinions on Berkshire?
How about this: I think Berkshire is currently highly priced and I would not buy. Not popular, but I won't get banned.
Before 2018, Buffett was not trying to buy back in quantity or goose the stock price.
IIRC, the raise to 1.2x in December 2012 was to buy from the estate of a deceased long-time shareholder. Berkshire ended 2012 at P/B of 1.17
