No. of Recommendations: 2
Mungofitch:
The current market value of the A shares that Berkshire issued to buy Dexter Shoes is $17.83 billion. That should be a clear lesson for every CEO, but somehow it isn't.
Are you thinking the lesson is that you can still get rich through your shares appreciating from your net good works, even as others get rich with you by accepting those shares in payment in lieu of cash?
Or are you complaining that they spent those shares which are now worth so much more on buying Dexter shoes? How is buying Dexter shoes with shares at that then proceed to rise in value a lot any better or worse than offering shares to the public at some currently nice price, that then proceed to be worth a lot more than you sold them to the public for? And yet selling shares to the public at a low price and then watching those shares rise in value is virtually the definition of success of a stock offering.
R:
