Don't they know, up is good?
If Buffett bought IBM at it's intrinsic value, I know he generally likes to buy at a discount to intrinsic value, and it has not gone up or down materially since 2011, what is the intrinsic value of a share of IBM today?
Anyone think that IBM bought back shares in 2012, at ~$200/share, at a material discount to the company's intrinsic value? I do.
Charlie [Warren Buffett's partner] and I favor repurchases when two conditions are met: first, a company has ample funds to take care of the operational and liquidity needs of its business; second, its stock is selling at a material discount to the company’s intrinsic business value, conservatively calculated.
"don't hold your breath bud."
Did you see that Winters sold 2/3 of his KO holdings? Why not 100%? I figure that you are the best person to answer my question...