No. of Recommendations: 0
Makes perfect sense for formula drive activity.
Buffet wants all shareholder decisions to be based on full disclosure. He never wants to step in front of the shareholders with non public information. So he would therefore only act, if restricted by a formula, to public available announced information.
Now this is not the same thing as his view of IV, which I believe may adjust within a quarter, albeit very little. I don't believe that Buffet believes that IV moves around very quickly. Certainly not because BV is jumping around. However permanent changes in BV, retained earnings, may tilt the scale.
I do think that there is historical evidence to support buy back at pour current price if it sits here for a while.
