No. of Recommendations: 15
Are you suggesting that Berkshire did something material? And then told some non-insider about it, but not everyone? Who?
What transaction are you talking about?
The question is, is the following an example of the transfer of some kind of 'insider information', prohibited by Rule FD?
"[Buffett] has got a wealth of wisdom and perspective — from not only the investments he's made over the years, but the insights he has through all of his companies into various sectors of the economy."
"He asks a lot of great questions about our [O&G] industry. I've been really thrilled to have him as a shareholder." $CVX
"Sitting down and having lunch with Warren for 2-3 hours is a masterclass in leadership and wisdom."
The poster seem to think this is not appropriate. If this catches on, it might be hard to recruit CEO: no more talking to people. It's not just that you can't disclose material events that haven't been announced to everyone and which might move the markets (the traditional understanding of Rule FD), it's that you can't talk to anyone, because talking to people means revealing information that might not be known to everyone (like your opinion on share repurchases vs capital investment in exploration and drilling, or whether you think there is a future in LNG exports, or what you think of competitors in your field). To make sure such relevant information is not disclosed, you would practically have to prohibit conversations of any kind, unless they are broadcast to the whole world.
