- "Berkshire's (BRK.A, BRK.B) insurance business generates substantial no-cost float ($77B at year-end 2013) available for investing and will benefit from the Heinz acquisition," says Barclays' Jay Gelb, calling now a good time to buy the stock. "Importantly, Berkshire has significant cash available for additional acquisitions (we estimate about $25B) to supplement organic growth."
- Gelb also notes Berkshire has substantial leverage to an improving economy and housing market, with non-insurance operations now accounting for two-thirds of operating earnings. The stock trades at 1.41x book, just above the 1.2x at which Buffett says he's buying back stock.
at CNBC.com (Nov 18, 2014)