With the unusual nature of this PR, tea leaf reading is in full effect. Coming on the heels of the annual letter, Greg simply wants to let the world know that nothing has changed in 2026. Or will.

The best thing I heard in the interview is that this was a one-time communication. As a longtime shareholder, don’t like Greg to get verbose with buybacks- when, how much, how long etc. Greg did say that there won’t be any further such communication.

If there’s anything close to being the secret sauce similar to Coke’s syrup, stock purchases at Berkshire are. It really hurts our pathway to deploy capital. Especially for Greg. Especially with buybacks. He’s got 100’s of billions to pull off. Keep the street guessing for as long as possible.