Subject: Re: A/B ratio/ Buybacks/ Put Sell?
The January 2026 $390 Put gets you an entry point at 1.2 times Mungo's estimate of year-end book value. It adds only 2.15% to your yearly return on cash. That's a really attractive entry price for Berkshire, but a less attractive rate of return on the cash. Also, at a certain price point, I'd like to have the cash available to buy long term Calls, say when the current price is near 1.1 to 1.0 times book value.