Subject: Upcoming 13F
I know we all saw the net sales of equities in the 10Q, but they DID buy $15B of stocks. To me, and maybe I’m in the minority, but that will be interesting, it’s one of the larger quarterly buys of equities we have seen in a while.

Greg was on CNBC talking about repurchases, but we all then saw the software stock implosion, wondering if maybe they bought ADBE or maybe even some MSFT (Gates and Buffett have not been speaking, Gates is no longer on the board)

ADBE seems to fit the bill, under 15x, huge cash flows, consistent repurchases.