Subject: Re: BRK Annual Meeting Observations
As a random example, Costco was trading under $50 for roughly 8-9 months.

I thought I remembered a Owner-related principal that said a managerial "wish list" will not be filled, but my memory was not correct. It reads:

A managerial "wish list" will not be filled at shareholder expense. We will not diversify by purchasing entire businesses at control prices that ignore long-term economic consequences to our shareholders. We will only do with your money what we would do with our own, weighing fully the values you can obtain by diversifying your own portfolios through direct purchases in the stock market.


I do hope that they keep a managerial "wish list", with a price target for those short periods when everything is on sale.

By the way, I don't see a link from the main website, but the document exists nonetheless:

https://www.berkshirehathaway....