Dan Kent

speaker

601 appearances 44 recordings 2 series first heard Apr 2026 last heard 7 Sep

Dan Kent’s voice in public audio — every appearance, attributed to the second.

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recordings per month · last 12 months

Recordings per month over the last 12 months — 44 in all, peaking in Aug 2026 with 14.

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The Canadian Investor · Berkshire’s $400B Cash Pile + How to Buy Private AI Companies · 11 May 2026 podcast

It's one of my larger positions.

So I haven't bought it in quite a while, but I might have if it continues to dip.

Yeah, and the insurance... Yeah, go ahead.

Well, here, I'll go like on the buybacks for like Berkshire...

They authorize buybacks at like a certain book value typically.

So I think for a long time it was 1.2X book and now I think they go 1.4.

So it does make sense.

Yeah, so for those wondering why they would assign this book value, it would just kind of be the value that they believe is the intrinsic value of all the underlying businesses.

So a lot of people might think like, why would that not be under book value?

And the main reasons for this is some of the acquisitions they made decades ago are still on the balance sheet for, for purchase price, despite generating like massive, I can think of Geico as one, like it's a massive part of the business now.

So they'd like to purchase shares at a discount to intrinsic value.

So if they're looking at 1.4 X, they probably mean, you know, or they probably think that the, the value of all the underlying conglomerate, like the entire businesses is,

is probably more than that, anywhere from 1.5 and above.

And a lot of people will ask, well, why wouldn't the market just accurately value Berkshire at this?

And it's just because these types of companies always trade at a discount.

There's not a lot of analysts who are going to be able to analyze the entire underlying portfolio of companies.

So you kind of have to lean towards the fact that Berkshire...

knows what they're doing here, they know the company's best.

So in that way, you know, it's hard to analyze fully.

But that's kind of the value, I kind of get the impression they think, you know, anywhere from one and a half to 1.8x book value is what they believe the company is worth.

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