Buybacks don’t necessarily “suppress” price discovery, they’re just another mechanism for imputing per-share price, like revenue, margin, etc. If you wish, it’

Buybacks don’t necessarily “suppress” price discovery, they’re just another mechanism for imputing per-share price, like revenue, margin, etc. If you wish, it’s trivial to filter out the effect of buybacks. Look at market cap over time instead of price over time. Look at market cap divided by revenue over time, instead of market cap divided by share price over time. Buybacks are not always the best use of capital, but with BRK as a key shareholder, you feel that it must make sense in their circumstance. The same money Apple invested in buybacks, its competitors have invested in dubious hiring sprees and unchecked R&D. I wouldn’t add to my apple position, but I wouldn’t consider selling any time soon. The folks at BRK know better than me!