It’s one thing to use EBITDA in negotiations for acquisitions, but Markel also uses it in its presentations to Markel investors which has always seemed unnecessary to me, and so I don’t find the explanation entirely satisfactory. But Markel, overall, is closer to the Berkshire ethos than many other mini-Berkshires and I wish them well.
“There are other things going on that I’m not at liberty to talk about.” Your guess is as good as mine on that one.
That is a very interesting statement to say the least!
It’s one thing to use EBITDA in negotiations for acquisitions, but Markel also uses it in its presentations to Markel investors which has always seemed unnecessary to me, and so I don’t find the explanation entirely satisfactory. But Markel, overall, is closer to the Berkshire ethos than many other mini-Berkshires and I wish them well.