I can live with BRK’s growing intrinsic value. It’s clear that dancing price and fair value can be skillfully played to enhance return. A few decades ago I’d have eagerly pounced on such an opportunity. But today, I’m disinclined to dabble in unfamiliar complexities. I’m comfortable with BRK for the moment, largely based on insights deriving from this esteemed discussion group.

It's perhaps worth noting that infants integrate their perceptions in an instant, as complexifying experience is then minimal and organically evolving energy near maximal. But from a contemporary perspective, deriving from many decades spent investing remaining energy in ongoing complexification, my inclination is toward simplicity.

No excuses. Ongoing experience just is what it is.

On the other hand, if there were one or more ETFs managed by our mentor, Jim, that provided simple access to these strategies, I’d be all in on some combination of them, which he might fashion to fit disparate circumstances.

Of course, BRK is akin to such an ETF, but I'm already largely all-in on BRK, and would like at least a bit of further diversification.

Tom