@kejca
Warren Buffett: "If you are repurchasing shares above a rationally calculated intrinsic value, you are harming your shareholders." "If it's a really wonderful business, we probably come up with higher intrinsic values than most people do." "We have enormous respect for the power of a really outstanding business and we recognize how scarce they are. If a management wishes to further intensify our ownership by repurchasing shares, we applaud."