04-15-2016, 09:52 AM
Buying BRK close to 120% of Book Value (the buyback level) is a no-brainer I think. And reading all of Buffett's letters is not only useful but quite enjoyable as well.
He mentioned in previous letters that when he is gone BRK might start paying a dividend. After all, there are not many capital allocators as good as Buffett, so paying out some of that cash flow makes sense if the successor is only half as good as Warren
He mentioned in previous letters that when he is gone BRK might start paying a dividend. After all, there are not many capital allocators as good as Buffett, so paying out some of that cash flow makes sense if the successor is only half as good as Warren