Subject: Re: Annual report
Nonetheless, I still think Greg would be a bit more likely to buy back stock at a given discount than WEB and would maybe repurchase more shares than Warren, especially since he made it pretty clear that dividends are Not coming anytime soon, which I found reassuring.


I agree with you, as long as you replace the word 'think' with the word 'hope'. Abel used exactly the same language that Buffett has used for the last 10 years or so, so we are probably just projecting our wishes onto the new guy in charge, as opposed to having any new evidence that the guy shares our viewpoint. So for repurchases at higher prices than what Buffett has been prepared to pay, I will believe it when I (hopefully) start to see it.

As for making it pretty clear that dividends are not coming soon, Buffett has also been completely consistent in saying this, so it is not really evidence that the balance has shifted in favour of repurchases.

Regards, DTb