Range of IV estimates

I used to keep track of the IV estimates that were posted, published or from interviews. The estimates for Dec 31, 2012 made a good example. That year I found 25 estimates, 11 from professionals and 14 from non-professionals like myself. The estimates used at least seven different IV models. Models included two-column and adjusted two column, look-through earnings, discounted cash flow, sum-of-the-parts, Berkshire’s private re-purchase, weighing machine and proprietary models. IV estimates ranged from $141K to $216K, with a normal-looking distribution that had an average of $175K, a median of $177K and a standard deviation of $16K. The average of $175K corresponded to 1.53x BV. Just some perspective.

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