“The reason I did nothing yesterday and will likely do nothing going forward, except for the day each year when I sell some, is because my oldest lot is from 12/31/2012 and Berkshire has annualized 14.17% since that date, with no tax consequences. No work, sat on my ass.”

Same philosophy here in general. My Cash/MM funds are fine at present and I’d have to ask “and then what” to do with the new funds. I’d trim other positions like big tech or VOO rather than BRK at present prices if/when the cash bucket needed refilling. Its like dental pain paying Fed/state taxes and interrupting the compounding even at 22/24% tax bracket unless necessary. BRK has been a great compounding “savings” account over the years And no loss of sleep nor concern over management. WEB is outstanding at limiting our tax bill as well.

Btw, I really don’t see WEB instituting a dividend despite the much more challenging role of allocation at our enormous size. As others have said. I too have a strong preference for smart buybacks (and even borderline buybacks) rather than start the quarterly dividend train.