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Does anyone here know the story behind Baker Fentress (BKF)? This is a closed-end investment fund that Buffett is invested in outside of Berkshire.

In looking at the company's financials, I can't quite figure out how they make their money. In a press release dated 10/19/99, they said:

"Since August 19, 1999, the Company has ceased investing in accordance with its previous investment objectives and has been liquidating its holdings of public and private securities in accordance with the plan to distribute most of its assets to shareholders and de-register as an investment company."

Does anyone know the scoop, or why Buffett is invested in this company?

Tiddman
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