disclosure etc. In 2008 I suggested that a small div, 1 percent of even a bit less, would increase demand for brk common. No one ever suggested that brk should be a high yielder. There are investors, funds, institutions globally that will not or can not buy a non div paying stock. Buffett was very content, selling off his life's work at BV or a slight premium to BV for many years. A small div and increasing it 5 % a year may have created additional demand so that Buffett may have been selling his shares at 1.3 xs BV or even higher back then , we don't know for certain. WE do know that META initiating a 1/2 of 1 % div was very well received by the market. Paying tax on the div while selling his shares 25 % higher, obviously would have benefitted us all, net net.

In 2012 when T and T beat the spy it was very clearly disclosed. Since then, we very rarely get any disclosure with respect to how they have done managing our money. Most brk partners are adults, we understand beating spy when 7 stocks are driving the index higher, was not an easy task. We can handle the facts, most of us do not appreciate selective disclosure.

Sadly, it looks like Buffett got bamboozled, again. We might see a 3-5 billion dollar write down in Pilot later this year or next. Dear Uncle Warren, if the phone rings, it might be conmen affiliated with sleezballs in Nigeria , hang up, or at least, ask T and T to do extensive due diligence going forward. Thank you.