This is the best valuation article I’ve read about Berkshire Hathaway:
Fortunately it’s about my favorite company and 2nd biggest holding. Christopher Owens, the author, has work experience at an investment bank and hedge fund. He invests his own money and does his own research. It seems he is a self educated investor. He fortunately has not lost time and money or polluted his ideas by getting and MBA or a CFA. Before making his own valuation he had read several professional and non professional valuations of Berkshire as well as several years of Berkshire’s shareholder’s letters and SEC filings. The author’s conservatism, rational view, accountancy knowledge and humbleness deserves to be monitored.
I would not judge value or buying decisions based on one article but this is an excellent starting point to get, in my opinion, the best quantitative valuation of Berkshire available. The same valuation approach outlined in the article can be used as a framework to make your own adjustments and personal valuation.
In order to establish good judgments of value qualitative considerations are also strongly recommended. In this case they can be obtained by learning as much as possible about Warren Buffett.
Best wishes and health on this new year and thereafter !