Evidence receipt / belief
Published · transcript-backedBen Gilbert: belief
7 Jun 2021 Acquired Berkshire Hathaway Part III
“I think the only 2 times it was meaningfully above 2x that the stock was trading above twice book was right around ‘96 when they did the B shares and then right around ‘98.”
Source trail
Everything needed to verify it.
- Speaker
- Ben Gilbert
- Attribution
- Verified speaker
- Claim type
- belief
- Recorded
- 7 Jun 2021
- Publisher
- Acquired
- Episode
- Berkshire Hathaway Part III
Transcript context
…He definitely over thought this one because Gen Re sucked to be blunt. I will say that it's funny. You said that I just pulled up the historical price to book ratio of Berkshire. I think the only 2 times it was meaningfully above 2x that the stock was trading above twice book was right around ‘96 when they did the B shares and then right around ‘98. I think he definitely felt like those were great times to be using Berkshire stock for currency. We didn't cover this last time because it didn't fit with the story. But back in 1985, Warren made almost undoubtedly the best hire that he ever made in his career, and he makes very few hires, as we shall see. He hired Ajit Jain to run Berkshire’s Insurance Businesses. This dude is a monster. You have no idea how unbelievably great Ajit is.…
Stored transcript either side of the excerpt. The highlighted words are the published quote; the surrounding text is unedited source, never generated.