Jim Sloan's bottom line

Published Friday. “In the 4th Quarter of 2021, [WEB] bought back $6.7 billion in shares at prices which probably averaged around $290. Berkshire looks like a long term buy anywhere below that price. As I write this it is trading at $270. That’s clearly below fair ‘business value.’ I would buy or add at least the first third of the capital I wished to deploy. At $250 I would buy the second third, confident that this buy would look good in a year or two. At $220, if that price should at any point be available, I would go all in.”