Propriety of Sokol action depends upon Buffett
Reader comment on: Sokol, Buffett, and the SEC
Submitted by Imprudent Speculator (United States), Apr 1, 2011 15:26
If Sokol could effect the purchase by Berkshire by himself, there might be "insider" information. But there was no guarantee Buffett would make the purchase, thus Sokol couldn't be trading on that information. Sokol would have been wiser to sell before he proposed to Buffett, to avoid appearances, but not required. And frankly, I don't think Sokol happily or intentionally traded away his future at Berkshire for $3M.
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