No. of Recommendations: 15
It was a nice try suggesting the 21% tax rate drove this. No one buys this. That’s fine.. it’s grown into too big a chunk of the portfolio, it’s high priced, and exposes Berkshire to a little more China and Regulation everywhere risk than it’s comfortable with.
I'm not one to think people are fibbing, but this all sounds pretty good. He will answer questions with the subset of the truth that is polite and suitable for public consumption.
My guru once told me: one should always tell the truth, but that truth should be a sweet truth.
Notice that in the Hong Kong question, he started a sentence about BYD, then simply switched to talking about Charlie's biggest table-pounders. Perhaps it was best not to say anything at all about why so much BYD was sold. The business (which we know is the thing that matters, right?) is doing tremendously well lately.
Jim
