Are buybacks ramping back up?

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At current prices. What’s your guess?

My bet is good chance they are getting back to ‘21 levels.

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Agree. If the Market continues to offer up these attractive prices, I would not be surprised to see $6-8B in repurchases by year-end (and prior to buyback tax) but the volatility may provide opportunity for a more attractive allocation target. It seems hard to criticize sizable buybacks at these prices imo given our cash equivalents and financials. Regardless, I’ve been adding and encouraged by Jim’s quality and voluminous data.

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“I would not be surprised to see $6-8B in repurchases by year-end”

would prefer double that unless an attractive big deal comes in

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My impression, and I might be wrong, is that Buffett generally does not buy much in a falling market.

Repurchases are a last resort sort of thing. He won’t be buying much Berkshire if he sees something else getting close to a back-up-the-truck price.

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My impression, and I might be wrong, is that Buffett generally does not buy much in a falling market.
Repurchases are a last resort sort of thing.

I don’t think he cares whether the market is falling or rising.
The absolute valuation level matters, but I’m pretty confident he doesn’t extrapolate price movements.

But also, if I am not mistaken, he is not particularly fond of buying between end of quarter and the date the statements come out.
So I would keep my expectations of buybacks pretty modest for now.

Jim

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But also, if I am not mistaken, he is not particularly fond of buying between end of quarter and the date the statements come out.
So I would keep my expectations of buybacks pretty modest for now.

Rereading this, I sound like an idjit.
I’m not saying we just had end of quarter.
But it’s a thing to consider starting at end September if the present price dip is continuing.

Jim

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But also, if I am not mistaken, he is not particularly fond of buying between end of quarter and the date the statements come out.

He did quite a bit of repurchasing in '21 in Jan/Feb, April, July and October, nearly $9bn in total.