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We cherish the clientele this fare has attracted..... ...The tens of millions of other investors (Kingran)

You are not the first person who indulges in selective reading....

Berkshire’s investment in Apple vividly illustrates the power of repurchases. We began buying Apple stock late in 2016 ... Despite that sale – voila! – Berkshire now owns 5.4% of Apple. That increase was costless to us, coming about because Apple has continuously repurchased its shares, ...
But that’s far from all of the good news. Because we also repurchased Berkshire shares during the 21/2 years, you now indirectly own a full 10% more of Apple’s assets and future earnings than you did in July 2018. This agreeable dynamic continues. Berkshire has repurchased more shares since yearend and is likely to further reduce its share count in the future. Apple has publicly stated an intention to repurchase its shares as well. As these reductions occur, ... The math of repurchases grinds away slowly, but can be powerful over time. The process offers a simple way for investors to own an ever-expanding portion of exceptional businesses.
And as a sultry Mae West assured us, and "Kingran violently agrees": “Too much of a good thing can be . . . wonderful.”
- Warren E Buffett, Chairman Berkshire Hathaway Inc, Annual Letter 2020
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