Todd Sullivan of Value Plays believe that Berkshire Hathaway is "fairly valued" at todays market price. The last time, Todd feels, that Berkshire represented "value" was exactly 8 years ago in March 2000 at the height of the dot.com bubble. Since then its share price has risen 256% even after the current drop.

According to Buffett

"Finally, our insurance business – the cornerstone of Berkshire – had an excellent year. Part of the reason is that we have the best collection of insurance managers in the business – more about them later. But we also were very lucky in 2007, the second year in a row free of major insured catastrophes."