Wednesday, January 20, 2010

Shareholders Approve 50-1 Split of BRKb

Warren Buffett took some questions at the meeting at the special shareholders meeting but, according to CNBC, Charlie Munger was not there...

Charlie Munger is not present, but there is a paper cutout with his photo. Buffett also has a recording of Charlie saying, "I have nothing to add" that's been played a few times after Buffett answers a question. (That's what Charlie often says after Buffett answers a question during a lengthy Q&A session at the regular shareholders meeting each May.) - CNBC

He also had some comments on BRKb being added to the S&P 500.

He tells shareholders that it would now be "logical" for Berkshire to be added to the S&P 500 now that the Class B shares will be trading in double-digits with greater liquidity and volume. He thinks that will happen eventually because the company will be so large it can't be ignored. It would be a slight benefit to shareholders, he thinks, to be added to the S&P.

He adds, "The B may be the tail that wags the dog now.- CNBC

In the CNBC article, Buffett also said that the Burlington Northern deal was not cheap and that he would want to split the stock even if that deal did not end up going through.


Long BRKb

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