No. of Recommendations: 14
“ The Apple sale is proving perspicacious. I wish the entire position had been sold at a mid-30s multiple. The business isn’t worth that much, even net of tax. Berkshire sent more than $20 billion of taxes to Washington last year just as capital gains taxes on the Apple sale.” I asked him if Brk can spin out the apples shares so we can all make our own decision.Buffett is in awe of what Apple has built. Remember that Apple has essentially sent back the value of Warren Buffett's entire life's work (~$1 Trillion), as excess capital it didn't need, in the last 12 or 13 years. What remains
after that trillion bucks was mailed out is valued at $3 trillion.
Will they mail shareholders another $1 Trillion of excess capital they don't need in the next 10 years? The next 7?
Warren is in rare air up there looking for great companies he can actually buy and sell. He found one that is better than anything else he owns and real big too.
If Apple is going to be buying in more than $100 billion of stock every year we should all hope the share price comes down so they can stretch their dollar a bit.
s2.q4cdn.com - Q3 Return of Capital Timeline
