No. of Recommendations: 2
mungofitch: "
Maybe the market will leave Berkshire trundling along at 1.25 times book for a few years after Mr Buffett is no longer in charge, or no longer seen to be in charge. An ongoing buyback scheme would burn off steam gradually, but perhaps after a while, preferably during a particularly weak stretch of pricing, management does a bazillion dollar dutch auction tender offer. That could burn off $300bn overnight."
White Mountains does exactly that:
"White Mountains Insurance Group, Ltd. (NYSE: WTM) announced today that it has commenced a "modified Dutch auction" self-tender offer to purchase up to $300 million in value of its common shares, at a purchase price not greater than $2,050 nor less than $1,850 per share, in cash ..."
investor.whitemountains.com - White mountains commence self tender offer purchase millionDoes anyone here have experience with White Mountains and can comment on the quality or valuation of WTM?
