Subject: Re: Make Berkshire Compound Again!
Interesting, that preferred shares are being offered (tickers GOOGM & GOOGN) that are expected to yield around 6.5%. They are mandatory convertible at a price of around 25% above current price. Abel chose not to buy those and opted for shares at 8% discount.

That's because Berkshire doesn't want current yield, that would just serve to increase the cash levels even more, and would cause more currently taxable income. Berkshire, like me and most holders of Berkshire stock, prefer CHOOSING ourselves when to realize income and pay taxes on it.