Warren Buffett May Not Think Berkshire Stock Is Cheap - Barron's
1. Berkshire Hathaway hasn't repurchased any Class A shares since May 2024. This is its longest buyback gap since expanded authority in 2018. 2. Stock performance remains strong, with BRK.A up 3.7% and BRK.B nearly 10% this year. Strong Q4 earnings, driven by its core insurance business, helped reach record levels. 3. The company’s Q4 results, annual report, and Buffett’s shareholder letter were recently released. These documents affirm robust performance despite the absence of buybacks. 4. Buffett delays repurchases because he deems current prices above estimated intrinsic value. UBS estimates intrinsic value at about $710,000, 5% below the current price.