I find it interesting

that Berkshire buys back about 10% of the firm over the past few years and the new cycle emphasis is how the pace of buybacks slowed through February.

Short term focus as usual.



The reduced buybacks of $1.2 billion in 2022 through Feb. 23, below the quarterly pace of nearly $7 billion in 2021, indicate that Buffett doesn’t think the stock is so cheap after its strength in late 2021 and early 2022.

It could mean that. I don’t think the stock is so cheap, either.

Or it could be that Buffett anticipates a better use for the cash.

We can hope.