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Gee, I thought he issued the B shares precisely out of concern for smaller shareholders.

Nice to meet someone as sarcastic as I am!

At my broker it costs $10 to get out of as many shares of Berkshire as you want. Plus, if you hold it a year you get a lower tax on the sale. Some cost.

Ahh, but you bear the cost, not BRK, which is my point.

I fully agree with your last point. I think the problem is that Mauzy did not work the numbers. If he had, I think the results would have buttressed his argument. BRK is plainly suffering from an increasingly large embarrassment of riches.


(Still re-reading Fisher's book. I don't yet know if I like it or not, but it has definitely caused me to re-think my approach to investing.)

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