Warren Buffett CNBC Interview: Berkshire Hathaway Repurchases Shares – 2018 – Birthday – August

During an interview with CNBC, Warren Buffett confirmed Berkshire Hathaway Inc. recently bought back shares of the company.

“We bought back a little. We tie it now to intrinsic business value, which we should have done all along, but for awhile, book value was a good proxy,” Buffett said.

In July, Berkshire approved an amendment of its stock buyback program giving Buffett and Charlie Munger more ability in deciding when to repurchase the company’s shares. The added flexibility allows Buffett and Munger to repurchase shares when the price is below the stock’s intrinsic value.

Watch CNBC’s interview with Warren Buffett from CNBC.