You’re analogy is fine for BRK.. you highlight that companies...

You’re analogy is fine for BRK.. you highlight that companies which grow in the short term, that are not supported by strong fundamentals tank.. after pay going from $160 to $60. Microsoft, with good fundamentals inevitably experienced strong growth.
there can be a disconnect between SP and fundamentals, but profits will eventually push SP up. You’re right the BOD can’t do anything about SP - in the short term. But as Dan mentions that by the end of the year BRK will have a PE of 1, with that level of profit share buybacks/dividends are on the cards, which draws in investors.

im not a dividend zealot. But I don’t think it unreasonable within the next 18 months if operations are on track and new drilling meets flow rate expectations then buybacks are possible, and that will push SP up, buybacks become especially advantageous while SP is so low.

yes it’s frustrating having SP so low, and I was one of the guys who initially planned on selling dead’s to convert. I misread price movement, that’s not BRKs fault, that’s my fault for having a poor strategy, so instead I’m using money from elsewhere to convert. But I’m happy with BRKs operational success, and I think Q3 quarterly will be a big wake up for the market!