Banter and General Comments .. BRK, page-11832

Puddy, I'm not suggesting a buyback of shares as a share price support or to demonstrate confidence in the biz. Financially, on a returns basis it beats deploying development capital on a ROIC basis if say we are targeting a share price of let's call it arbitrarily 75% of NAV. That said the conundrum of course is you don't have a business without field development. As FameLuck as pointed out the biz is cash constrained with all available cash going to development/production. It's a balancing act. I guess I'm saying there's multiple ways to build wealth within the business for long term holders.

Yes, buying back shares would be a demonstration of managements confidence in the business but a better one would be for management to actually just buy a meaningful amount of shares on market rather than awarding themselves a pool of Options that they do not have to deploy any capital for in the interim......for them it's a risk free bet......for the shareholders however, we carry the risk for any reward. It's by no means a situation peculiar to BRK.....this is rife now but there are still companies where management do align their interests directly with shareholders and buy shares on market with their own funds. That's where management aligns its interests fully with shareholders as the ultimate demonstration of confidence in a business.