On June 15th I posted my quick idea on IPC Holdings (NasdaqGS: ) in which I listed a number of reasons that the broken deal with Max Capital provided an opportunity to buy into the stock at a very attractive valuation. I guess Warren Buffett must have read my report.

Via Bloomberg:

Warren Buffett’s Berkshire Hathaway Inc. (NYSE: ) offered $1.7 billion in cash to buy Bermuda-based reinsurer IPC Holdings Ltd. earlier this month, said two people with knowledge of the bid.

Berkshire is the "Party M" named in a regulatory filing today as making a July 1 bid, according to the people, who asked not to be identified because the offer wasn’t public. The bid was rejected in favor of a lower stock-and-cash offer from Validus Holdings Ltd. because Party M demanded IPC not pay a third-quarter dividend, the filing said. Party M is called "a global insurance and reinsurance company" in the document.

Now, I know the stock is not up very much since I recommended it. However, I think Buffett's interest in IPCR indicates that I was dead on regarding the quality of the company. Plus, if the Oracle (NasdaqGS: ) is looking at a company you know it has to be valued attractively. My hope is that this is just one of many times in my career in which my value investing acumen is validated by the interest of a guru.