Subject: Re: Life Beyond Cash
Going around in circles.

Group A:
- We wait very patiently for fat pitches.
- Hope isn't a plan. But holding on for a major market downturn can be.
=> The great story might(?) continue.

Group B:
- You could buy back at ten billion a quarter and the cash would not change.
- scale ... A $30–50 billion deployment ... wouldn’t by itself solve a $374 billion reserve. The question is ... whether Berkshire ... can repeatedly deploy or return capital at a pace that keeps up with the size of the problem.
- Dividends
- dutch auction for 25% of the company
=> It can´t and it won´t continue.

Group C:
- Abel ... He may create plenty of value by improving Berkshire’s operating businesses
- Abel ... highlighted our operating managers and emphasized EXECUTION. And that connects directly to where I’ve argued our value creation comes from next.
=> The great story ended, but the future might be ok.

Conclusion: None - of course not 😂

Personal take: Don´t be in Berkshire if you want to get rich (but eventually if you already are).


P.S.: Apologies to all posters I quoted above. The quotes are out of context, distort and over-simplify what they said. By purpose: Being a simple mind I just wanted to illustrate what I see in a simple way.