Post #7793 by Munger_Disciple on the Berkshire Hathaway board

Stocks A to Z / Stocks B / Berkshire Hathaway (BRK.A) ❤

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I try hard never to read too much into Mr Buffett's moves as that way likes madness. But I have to say, the buybacks at around $403-$405 seem to be a more bullish signal than I would normally expect...

I think Warren and the board have decided to buyback stock as long as it is below (and not necessarily way below) their estimate of intrinsic value on a fairly regular basis since 2019. This was confirmed in an interview by Susan Decker, Berkshire board member during the 2024 annual meeting weekend in Omaha. I believe that this decision was taken so as not to have the cash pile grow too large. Naturally they will buy back way more if the stock is very cheap and there aren't many opportunities to deploy the excess capital and less when the opposite is the case.

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