Subject: Re: brk, disclosure, transparency, not much
<<" Not sure that would net much progress, if any, to STEW shareholders after the large tax bill was subtracted on the deferred capital gains. His basis on BRK is very low having accumulated it decades ago."

If I sell my STEW to brk, I have a cap gain on my stock sale, my cost in the stock vs what buffett pays me, no?>>

Correct. Which is why I’d be reluctant to buy an ETF at NAV or stock at present market price that comes with large associated deferred unrealized capital gains. And why an investor must make an adjustment downward on the price of such an investment.