All stocks are float. It's a value of future earnings. But, how does anyone really know the value when accounting and books get thrown in the crock pot and slowly boiled, or cooked to a burnt crisp. even at just 12-13 times earnings,,does anyone know in 12-13 years if a company will even exist.
An insurance business is premiums plus investments exceeding payouts. Nothing ponzi about that. What struck as ponzi was that CONTINUALLY INCREASING premiums were the key to BH's growth. Maybe I'm wrong; article does not provide