Subject: Re: In progress observations
There is an opportunity cost for waiting a decade for the perfect pitch. And acquiring whole US companies of significant size at a good price has become harder. And last time the market crashed in 2020, Buffett didn’t swing at all.

Cash is earning 3.8%. BRK ROIC is 7% and ROE 10% (figures from Guru Focus and not verified.) Buying back stock with say $100 billion of cash would be a better use of cash.

I was disappointed they pretty much stopped buying stock after the March announcement, even though stock traded below their average repurchase price virtually the entire time since then.

I am encouraged though by their investments in Japan and hopefully they will find more. Asia has been hit hard by the Iran war, there might be bargains there. Maybe they can give Li Lu some funds to manage.