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Stocks A to Z / Stocks B / Berkshire Hathaway (BRK.A)
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Author: DTB ✭  😊 😞
Number: of 15062 
Subject: Re: BACk to selling BAC
Date: 08/21/2024 4:27 PM
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Double the first 2 quarters' $22.8b in operating earnings to get a year's worth, $45.6b. To get a number per $1000 in value, you would half to divide that by 669.2 (using Jim's number for the A-share value, $669,225, although the A-shares are a smidgeon lower now), so that would mean $45,600/669.2 = $68.14 per $538 of other assets embedded in $1000 worth of Berkshire shares.


This seemed too high to be true, and I attributed that to abnormally good underwriting results, but there's a mistake in there - the $45.6b number is for the company, and I needed to divide by 1.438 (the number of millions of A shares) before dividing by 669.225 (the number of $1000 amounts in one $669,225 A-share. That would give us 47.38 per $1000 of share value, or $47.38 per $538 in assets embedded in the $1000 of share value.

Still a big number, but $47, not $68. And not the number that Jim provided in the interim, so it may still be wrong, but I don't have time to go over whether Jim's number is wrong, or, more likely, mine.

Sorry for the confusion, DTB
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