01-24-2022, 09:15 AM
(01-23-2022, 12:18 PM)Scooterd Wrote: In the late 80's, A company I was employed with landed a huge contract. Our technical department (along with the sales team) was responsible for closing a multi-year deal and both departments were given significant cash awards along with some additional paid resort vacations (for key players, mostly management and sales leads) .
While other worker bees like myself on the tech team who received cash awards in our department spent their monies on trips, new cars and the like (one person even in-ground swimming pool), I purchased 2 BRK.A shares. They all thought I was nuts. I remember one guy saying com'on man live it up a little, there will be more awards next year.
Well the next year rolled around no more cash awards came our technical departments way. The business started struggling by mid 90's, as management was taking out more $$ than putting in (Private lease jets to business meetings, Huge Management bonuses, . financial engineering monkey business to achieve their management award incentives. Eventually by the late 90's the contracts all but dried up and I moved on to greener pastures.
I still invest to this day in Berkshire when the market provides opportunities (albeit through their B shares). However I will never part with those 2 class A shares. I have no plans ever convert them into B shares. My plan is to leave one share to each nephew when I am no longer here.
- Scoot
Awesome story Scoot, that's one heck of an investment!