Nice succinct write up. The whole worth more than the sum of the parts:
"…to have cash on hand is valuable again. When the (arguably) greatest capital allocator has it on hand, it is even more valuable. At a share price of about $340-$350, the BRK.B stock provides a quantitative margin of safety of about 10%. When looking at the cash strategic value in this market environment, I believe the margin of safety to be >20% and thus, the whole is worth more than the sum of the parts./i>
Ben Graham cringing?