Berkshire Hathaway Class B Message Board

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Non-Tech : Berkshire Hathaway Class B

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To: Jurgis Bekepuris who wrote (1550)	3/8/2004 4:04:50 PM
From: The Duke of URL©	of 1652

That's the section. What he is saying is that over the years, the disparity, or difference between the Intrinsic value and the book value is getting larger. This implies a MULTIPLE which can be applied and that multiple is getting larger. The intrinsic value of BRK is as I am sure you know a proxy for the eventual stock market price. This means that the real value of BRK is growing BECAUSE of its history of growing assets. Interestingly enough, book value on warren's books IS asset value for publically traded securities. He does this by grossing up the increase and subtracting the taxes as deferred tax.

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