Subject: Re: Value, when to buy
As an example, here is the list of IV estimates that I found for Dec 31, 2012.

Ahh, I remember the time well. Berkshire got cheaper and cheaper and cheaper, with the price having gone nowhere since 2017 but value steadily accumulating. I spent much of 2012 basically doubling my position, figuring that *eventually* the weighing machine would kick in. 2013 and 2014 were most satisfying.

Jim