Warren Buffett: Now $2.4 Billion Richer.
Reader comment on: Buffett-Berkshire Buyback
Submitted by Ed Thompson (United States), Sep 26, 2011 17:35
Speaking of not talking up the stock, a companion Journal piece states in part, "Based on today's stock price moves, Buffett has just made himself $2.39 billion in paper gains, thanks to his considerable ownership of Berkshire stock."
Nonetheless, I do not hold the decision to buy back shares against him. If it is in the best interest of shareholders, to whom he has a fiduciary obligation, there is no way around the fact that an announcement was mandatory.
Still, your point is valid; Buffett's claims re tax the rich are specious.
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