No. of Recommendations: 8
But since Berkshire isn't in the business of issuing quarterly projections, forward book value wasn't known until the end of quarter, well past when the purchasing decisions were made.
I might not have the wording exactly right, but the gist:
Charlie: "Warren talks about discounted cash flow calculations, but I've never seen him do one"
Warren: "Some things you only do in private, Charlie".
I expect Buffett knows when Berkshire is in the repurchase zone without doing book value or IV calculations.
He knows how Berkshire is doing in real time.
