Tilson's view of Q3

Whitney Tilson has closely followed/invested in Berkshire since the 90’s with a long history of valuations & comparisons.
Alway interesting to read his views.
This a 1st part view of Q3 & tomorrow his current valuation est.




Whitney Tilson’s updated estimate of intrinsic value thru Q3;

“This results in $19,054 in adjusted pre-tax earnings per share over the past 12 months, to which I apply a multiple of 11 times to arrive at a value for the operating businesses of $210,000 per A-share.

Now add the $335,000 in cash and investments per share to arrive at a total intrinsic value of $545,000 per A-share (or $363 per B-share).

With the A-shares closing yesterday at $439,167, that means the stock is trading 19% below my estimate of its intrinsic value.“


& he adds some hazy fun to owning … “America’s No. 1 Retirement Stock”…

“My favorite high-risk/high-potential-return bet continues to be the cannabis sector, which has gone from disliked and cheap when I first became bullish late last year to hated and ridiculously cheap today…”