Post #4463 by mungofitch on the US Policy board

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They are paying 60% more this year than they did in 2019.

Pretty consistent with this comment in the Forbes article:
https://www.forbes.com/sites/bill_stone/2023/11/04...
"Thanks to share repurchases, operating earnings per share for year-to-date 2023 were a whopping 65% above 2019." That's despite railroad and energy both being net down in the interval.

So, round numbers, it seems he's paying more because shares are worth more, not because he is any less price sensitive : )

Book per share is up "only" 49% in the same four year stretch, investments per share up 52% (47% using my adjustments)
Still fine numbers.

Jim

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