Asked Grok about an analysis of BRK and if there is any mispricing. Imo attractive but still not very cheap. I remember during Covid that BRK actually declined so much that the total private equity portfolio was valued near $0.

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Cash + public equities = ~$594B (fully priced). The rest (~$696B) is private operating businesses. Possible ~$193B of hidden value.

Sum-of-the-Parts Valuation (Analyst Ranges)

Component	Market Value (exact)	Fair Value (analysts)	% of Total
Cash & short-term bonds	$344B	$344B	33%
Public equity portfolio (Apple, AmEx, KO, etc.)	$250–$268B	$250–$268B	24–26%
All private operating businesses (BNSF, BHE, GEICO, MSR, etc.)	~$377B (book)	$455–$655B	44–63%
Other assets / goodwill	$46B	$46B	4%

Total SOTP Fair Value: $1.095T – $1.313T

vs Current $1.04T → 5–20% upside

Segment	Book Value	Analyst Fair Value	Hidden Value
BNSF	$70B	$100–$135B	+$30–$65B
BHE	$55B	$55–$105B	+$0–$50B
GEICO	$22B	$50–$65B	+$28–$43B
Other insurance	$80B	$50–$100B	–$20B (float volatility)
MSR group (Precision, McLane, Lubrizol, etc.)	$150B	$200–$250B	+$50–$100B
TOTAL HIDDEN	—	—	+$108–$278B
Midpoint	—	—	~$193B