Thanks. FYI, attended a Tilson dinner in Omaha last night after the meeting. He included his latest BRK Q1 2022 update on his IV which is now 542K/share. He bases it on 335K cash and investments/ share and 18.8B pretax earnings excluding all investment income. I believe he chose a 16 pretax multiple. He said he would release his more detailed update later this week. I believe he predicted IV would be 600K by year end.
Admittedly I have never looked at his analysis in detail, but is not not skipping over a big chunk of liabilities here? Is that perhaps how his valuations tend to be a bit too rosy? I know DTB raised the point of deferred taxes but I suspect there are more missed liabilities than that.
StevnFool