Buffett buybacks: Could Berkshire tender stock?

[longinvestor]

There was a mention here as well as elsewhere that “If Buffett doesn’t buy at these prices, why should we?”. It’s a fair question after all for this community of value investors but an enormously important one for Omaha. They must hope that most market participants keep this sentiment and don’t buy, for as long as possible. Besides large single block purchases, the stock selling below IV is needed. Sentiment driven versus fundamentals. Mungofitch over at TMF points out that per share earnings grew 13.5% yoy. That’s with only 75% of the engine working. We’re in a good place, cash pile be da$@ed.

[longinvestor]

With the stock price bonhomie underway, what would be of most interest is if buy backs are continuing, even in dribs as has happened. We will find out in Feb, 2020, won't we?

 

[John Hjorth]

There was a mention here as well as elsewhere that “If Buffett doesn’t buy at these prices, why should we?”. It’s a fair question after all for this community of value investors but an enormously important one for Omaha. They must hope that most market participants keep this sentiment and don’t buy, for as long as possible. Besides large single block purchases, the stock selling below IV is needed. Sentiment driven versus fundamentals. Mungofitch over at TMF points out that per share earnings grew 13.5% yoy. That’s with only 75% of the engine working. We’re in a good place, cash pile be da$@ed.

Thanks, longinvestor,

• We [still] don't know what's going on on Mr. Buffett's working desk [actually, as I understand the situation : The desk of the father of Mr. Buffett], day by day [and we never will]. Personally, I'm a firm believer [religious or not? - the reader of this post is to decide] that he isen't spending his time power-napping on a couch in his office.
• CAPEX spent in the first 9 months in companies already owned by Berkshire : USD 11.193  B, up from same period P/Y : B 10.040 B. The work by among others Mr. Abel - Investing in the future of Berkshire. These investments are investments where internal hurdle rates are met, not purchases of new brushes to toilets, toilet paper or what do I know.

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And even what appears miniscule buybacks add up over time, yes.