Not exact matches
Offering bank investors a view of the company stock, Dimon contended that it
still made financial sense for JPMorgan to buy back
shares «even at or above two times tangible
book value»
per share, which was $ 53.56 at year - end.
If you run the same numbers as above, but at $ 45
per share, buybacks would be accretive to earnings and approximately break even to tangible
book value —
still attractive but far less so.
If Buffett
still measures his life by the
book value per share of Berkshire Hathaway, then for the first time in forty years he must feel like a wasting asset.