The following video is from Wednesday's MarketFoolery podcast, in which host Chris Hill, along with analysts Joe Magyer and Bryan Hinmon, discuss the top business and investing stories.

Berkshire Hathaway (NYSE: BRK-A) announced that it has bought back $1.2 billion worth of Class A stock, and shares were up on the news. The board of directors also authorized future stock buybacks at 120% of book value. In this segment, the guys analyze the news and share why they believe Berkshire is still a buy.

Chris Hill and Bryan Hinmon have no positions in the stocks mentioned above. Joe Magyer owns shares of Berkshire Hathaway and Markel. The Motley Fool owns shares of Berkshire Hathaway and Markel. Motley Fool newsletter services recommend Berkshire Hathaway and Markel. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.