Amen! Important to sleep well, esp. as the grey hairs multiply. Owning BRK and never selling a share (so far) has been fun, fruitful & has Also saved me from myself.

Well, I own a boatload of shares in BRK, acquired on dips over time, ever since 1998 or so, and I too have never sold a single share — and I’m extremely pleased with the results after 25 years. I’m now 80% or more, all in with BRK, with the rest in cash. Am thinking of moving some of that cash from treasuries to a short term bond fund to stretch out duration a bit and then redeploy later when the ?!@$ hits the fan. Admittedly, I have a very basic portfolio, bordering on sloth and inactivity, void of options and other sophisticated trading strategies, with an asset allocation that might resemble Boglehead simplicity. So be it…

I have huge embedded long term cap gain taxes in the taxable portion of my BRK. Every time I get tempted in recent months to sell off a percentage of my BRK in tax deferred accounts which will not trigger any immediate tax event, I begin to vacillate. I could easily bring it back down to 60-65% of my net worth without any immediate tax effects, but I hesitate. I just go back and read the following and my buy, add, set, and forget it kicks in big time again. Thank you Charlie for instilling in me the discipline I truly need to avoid temptation.

Charlie Munger: Well, at Berkshire we have a simple problem of estate planning. Just hold the g--damn stock. [laughter]

Warren Buffett: Well, but that doesn’t fit everybody, Charlie. I mean, you know … .

Charlie Munger: No, it only fits 95%. [laughter]

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