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Berkshire Hathaway Inc. Message Board

  • rrrr2222 rrrr2222 Mar 1, 1999 4:32 PM Flag

    BRK BUYBACK

    Anyone have any thoughts on if Berkshire has been
    buying back shares? With 20 billion on float they have
    the $$ to do it and if it's selling at a discout why
    not do one. I know WEB has said they should have done
    them in the past but didn't.

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    • <<If you're all so bright, why didn't you start buying it years ago when I did? Adieu.>>

      How do you know we didn't?

    • My broker just called and said I sold at $73000, so I'm gone!

      Easiest $400 I made in 2 hours ever. Think I may be back.

      Ponderosa

    • Buffett said in an interview with "Investor's
      Digest" recently that he thinks it's a good thing when
      companies he owns buy back their stock --- BRK now owns a
      greater percentage of Coke, for example, because KO has
      been buying back its stock, leaving fewer shares out
      there. However, Buffett said that although BRK should
      have probably bought back some of its own shares in
      the past, he is not interested at the moment.


      Bear in mind that when news announcements say that BRK
      has "bought" into companies, like the recent chemical
      and cable companies, it was not BRK but GEICO, a BRK
      subsidiary, that bought them with GEICO float money. They
      were hundred million dollar purchases, too small for
      BRK. Buffett is only interested in billion-dollar
      purchases. Mike Howard

      • 2 Replies to leftbank_99
      • >> However, Buffett said that although BRK
        should have probably bought back some of its own shares
        in the past, he is not interested at the moment.
        <<

        At the moment. Maybe that's because
        Buffett doesn't think BRK is sufficiently
        undervalued?

        What if the market crashed tomorrow and the market
        (BRK included) suddenly lost half its market value,
        even though its businesses were still solid cash
        generators? Seems to me that Buffett could achieve his
        primary goal -- increasing the per-share intrinsic value
        for shareholders -- by using a lot of that cash to
        buy back shares. Presumably, the times he thinks he
        should have repurchased stock was when he considered BRK
        to be highly undervalued.

        Of course, he might
        also find other opportunities which are even more
        undervalued and add even more intrinsic value...

      • This was posted 6/23 98 about the gen-re deal.A
        money mgr that personaly owns brk and Gen-Re in his
        fund says that he thinks BRk has gone up too fast this
        year.Buffett responds:to date the price of brk has outstripped
        the gain in IV.He goes on to say, because many view
        BRK as a closed end fund, and value it at liquidation
        value, it has very often been UNDERVALUED and the value
        is more app. now.I think we are close to fair here
        and would not be surprised if BRK bought its own
        shares in the 58-60 area..

 
BRK-A
190,000.00-520.00(-0.27%)Feb 11 4:00 PMEST