Subject: Put these 3 things together and what do you get_QM
1) [Buffett’s] children are now at their prime in respect to experience and wisdom but have yet to enter old age. That “honeymoon” period will not last forever.

All three children now have the maturity, brains, energy, and instincts to disburse a large fortune. [Buffett’s is currently worth $150 billion, according to Forbes.]

2) Berkshire is trading at roughly its typical price to book

3) Berkshire is sitting on over $300b cash, 30% of its market capitalization, dragging down returns, at a time when stocks and companies are very expensive.

Seems like an opportunity for a transformational move.

DTB