Post #6595 by hedgehog444 on the Berkshire Hathaway board

Stocks A to Z / Stocks B / Berkshire Hathaway (BRK.A) ❤

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If the law was written such that the tax only was on buybacks when the stock was above current value it could have some interesting consequences. It might force companies to get some kind of fairness letter that they weren't throwing away money and might help investors decide whether they agree with that assessment of value. And those that buy back at laughably high valuations might see themselves arguing with the IRS in court if the letter tries to hide that fact.
Rgds,
HH/Sean

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