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The week's question
In March 2025, in the thread "Re: OT, out", Umm asked the members: "Do you think it is because America is made up of magical soil that makes businesses based in America magically profitable?" This week it is put to everyone again. The button below opens the small thread re-asking it - read what others have said so far, then give your own answer as an ordinary reply.
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Stocks A to Z / Stocks B / Berkshire Hathaway (BRK.A)
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Author: rrr12345 ⎊  😊 😞
Number: of 22353 
Subject: Re: out of the gate strong
Date: 02/04/24 3:00 PM
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No. of Recommendations: 4
"I find charts showing valuation tend to be rather more useful than charts merely showing a price."

Nice charts. Thanks for sharing.

"I really should add another line for "inflation adjusted highest known buyback price to date"

That would be nice. With regular repurchases going back to 2018 and irregular repurchases back to 2011, we now have a pretty good idea of the maximum P/B that Buffett will pay. We even have two months, April and May of 2022, when Buffett did not repurchase shares. The number of shares repurchased declines with increasing P/B, although with considerable scatter. So far, the maximum (price paid/beginning book for the quarter) is 1.49, and the maximum (price paid/ending book for the quarter) is 1.51. The (price paid/Buffett's conservatively estimated IV) would be slightly higher than those numbers. At present, with P/last known book at 1.62, it looks like we are slightly above the limit of what Buffett is willing to pay, although not necessarily above IV.
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This community has written 21,861 posts about Berkshire Hathaway. The article-length ones it recommended most:
BRK: Why Not XOM? · 62 recs · 2024
Second quarter comments · 60 recs · 2023
Berkshire's Profit Contributors · 58 recs · 2023
Summary of 2Q 2026 · 55 recs · 2026
3Q Summary · 53 recs · 2024
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