No. of Recommendations: 2
" Trying to "tailcoat" Mr Buffett isn't always the best approach to investing, but he is happy to hold quite a bit of dry powder at the moment hoping for some acceptable opportunity in some reasonable time frame, and so am I : )
Jim"
Good morning Jim, as you recall, once upon a time Buffett was loading up on IBM and touting IBM rather than buying brkb, which made a few of us nuts, at that time. Buybacks at small premiums to BV was dilutive to BV, BUT, buybacks at, substantial discounts to IV, is accretive to IV, which always should have been the hurdle. IF I could ask Buffett one question, that would be it, WHY didn't you authorize a buyback at material discounts to IV in the 2006 time period? Amen.
