Last week, Warren Buffet made an announcement that sent shockwaves through the capital markets. “Based in part on the recent decision by Initrobe to classify the fair value of its debt as level 1, Berkshire Hathaway today purchased all of the outstanding common stock of Initrobe (ticker symbol IN). We were also impressed by the company’s Level 3 rollforward, which gave me invaluable insights into the company’s cash flows and operations.”