Is Book Value Per Share Still Relevant?

Berkshire Hathaway's Warren Buffett answers your questions in a Q&A session. The first question is on Berkshire's intrinsic value and the second asks about its book value per share. A substantial portion of the company's value is driven by operating businesses rather than the performance of the securities portfolio, he says. "We got very lucky actually because our business was so lousy that we recognized it"