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It would certainly be annoying to be forced into selling Berkshire (or anything else) at a discount to intrinsic value in order to "create a dividend" but this annoyance/cost/risk should be weighed against the risks associated with doing things like shifting money into junk bonds at 6%. Of course, the other alternative is to keep several years of anticipated liquidations in something cash like and replenish that fund only at opportune times.
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