No. of Recommendations: 5
If top paid price to book was 1.48, book value on B is 291.72, that gets us to 431.75, I see Jim had 413.11, please correct me, just want to understand where the numbers came from.
You're right, of course--sorry about that.
As you wanted to understand, it's simple: the book value I used was one quarter out of date. It was in my table of buybacks, and there weren't any buybacks in Q3, so I neglected to update the Q3 book value in that worksheet. Something about "garbage in..."?
Of course, as a reminder: just because it seems that Mr Buffett doesn't like buying B shares at prices above 1.48 times book, it doesn't mean that a share is actually worth only that much.
Jim