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rational, let me walk you through what I proposed in 2006 in yahooville in
response to the 2006 donation letters.

lets say Rolfe was the gates foundation broker and advisor. if he went to
Prince Alwaleed or someone with very deep pockets and proposed, he buy 3
billion brkb from the gates foundation at 75 or near that price at the time.
The Prince buys all foundations sales for the next 5 years so that the
buffett shs go from buffett to the gates f to the prince, monthly, at the
weekly average closing price. The shs move from the buffett block to the
alwaleed block without ever seeing the public float. The prince agrees to
hold for 10 years and he gives 1/2 or all his votes to gates so there is no
control issue. I did something like this in the 80s, in the case of brkb, 2
billion dollars worth of stock a year for 10 years never sees the public
market. IF buffett and munger don't think this would be material it helps to
explain the, buffett discount. To keep it simple, IF this agreement was
made, and IF this press release went out today, would brkb, drop, or rise ,
on this news ? Buffett's refusal to split the stock, authorize a buyback,
and initiate a 1 % div, in 2006 has cost the foundations 10 % give or take
in proceeds from sales during the past 6 years. This is very basic finance
101, I seriously buffett gets it, even today. IV discovery with the help of
Tilson or Rolfe will not be the catalyst to get brkb to 1.5 xs book any time
soon. Shareholder friendly moves are what's needed and I doubt buffett goes

amend the buyback press release to read, authorized buybacks at a
substantial discount to iv or raise the limit to 1.25 xs book.
reach a right of first refusal agreement to cross gates f shs with a monster
buyer who can put the stock away for 10 years and keep the shs out of the
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