A Lower Tax Rate and Strong Equity Investment Performance Lift Our Estimate of Berkshire's Value
We've increased our fair value estimate for Berkshire Hathaway to $330,000 ($220) per Class A (B) share, which is equivalent to just over 1.5 times our estimate of the firm's end-of-2017 book value per Class A share of $215,300. With book value expected to grow at a high-single-digit rate this year and next, our new fair value estimate (derived using a 21% statutory U.S. federal income tax rate) is equivalent to 1.4 and 1.3 times our estimates for book value at the end of 2018 and 2019, respecti...
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