Subject: Re: Calls: end of an era?
I was looking at the implied interest rates built into the prices of various Berkshire calls.
They are all high enough now that it's no longer obvious that it's a good investment strategy.

I have been looking at them too and struggling with the returns not being attractive. MAYBE if we see multiples closer to 1.2x one can squint hard enough to see a mid teens real return. Whether that's attractive enough based on risk is up to each individual.


Jeff