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The Markel Style
From today's TSOH update:

"Markel repurchased $105 million of its stock in Q2 FY23 - the largest quarterly rate in its history (2017 was the first time that the company repurchased >$100 million in a year). In addition, Gayner has continued to buy more shares on the open market (he added another ~$148,000 of stock on August 7th). In total, these actions suggest management believes the stock is an attractive proposition near current levels; given my purchases in July, I naturally agree. (May 2023 Meeting: “Over the past year, the two largest buyers of MKL stock were Markel Group and Berkshire Hathaway - and I hope at least one of those two knows what they’re doing.”)"

thescienceofhitting.com
The Markel Style
Note: On a recent Sunday afternoon, I spent a few hours talking with Ben Gilbert from Acquired. Long story short, Ben signed up for TSOH after a fellow subscriber pointed him to some of my research on Costco (a big thank you to whoever told him!).

Jonathan Garcia's avatar
Haha - “I hope at least one of these two knows what they’re doing”
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