@DavidTaggart I'm not a worshiper. But value as an analytical style has *nothing* to do with cheap. Value for Berkshire is about buying an asset at a price that reflects a margin of safety. Apple is a value stock and 25% of the BRK public stock portfolio.

@DavidTaggart This thread was interesting... a LOT of the cash is just coverage of float.

@DavidTaggart @cap_zay Buffett fanboys are some of the worst. $TECD was a buy at a large premium running a 1.5% margin biz? Really? It's OK to admit the man may be past his prime at 89

@DavidTaggart Buffett doesn’t buy the value factor. He would rather buy a wonderful company at a fair price than a fair company at a great price.

@DavidTaggart Be assured that Warren B earns a return on every dollar he has to his name. Do his investments lose money from time to time? Sure. But don’t picture him storing his cash in a giant pit like Uncle Scrooge.

@DavidTaggart Sorry to state the obvious, but just to get back to the question that started this whole thread: people who say "value is so cheap" are usually talking about "value stocks" RELATIVE to "growth stocks", they're not talking about absolute valuations (usually).

@DavidTaggart The answer can be found in the 1996 BRK annual report on page 24, in a footnote or on page 11’237 of « The Snowball ».

@DavidTaggart People forget Warren owned stock in common goods companies during the greatest bull market ever the past 60? Years. There wasn't anything fantastic about it besides him being extremely patient and longsighted. Money was going to be made. We are now nearing the end of that mkt

@DavidTaggart He’s operating at a much different level of expectation than you are ......

@DavidTaggart Quantitative value is not value.

@DavidTaggart Investable universe by size of companies. Not all universes are equally cheap at the same time. He’s playing in the largest universe with smallest amount of companies that can make a difference to BRK’s bottom line. And whose make up are not as understandable to him (e.g. FB).