BRK equity positions vs. S&P

Interesting, current BRK equities are estimated 341B vs. 281B on 12-31-20 for return of 21.35%, over 2.5% better than S&P over same time frame by my calculation. Equities are priced as 49% of our market cap. BRK and it’s operating companies still seem cheap to me! Thoughts?!

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That pesky Apple is clearly overvalued! PE of 12 is more like it

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