No. of Recommendations: 52
In order of importance.
1) Charlie says that any time you have a situation where your money is compounding, you would be a fool to interrupt it.
2) I don't want to pay massive taxes on stock I have owned for decades
3) Over those decades I have made millions but also lost more potential millions by trying to be smarter than I am. I have sold BRK when I thought the stock was "over valued" and had BRK stock called away on covered calls I have written. I'm still smarting from the errors and promised never to repeat them.
4) Warren already "lightened up" for me and all shareholders by moving a third of market cap into cash.
5) Warren's the person I want handling my money and navigating these uncertain times.
6) Over the past decades I have watched so many assets trade not for 20-25% more than what I thought they were worth, but for numbers that to me are insane. Think $100,000 BTC, multi million dollars for a single baseball card or comic book, stocks with no earnings trading for multi-billion dollars, and even Walmart at a recent PE of 60. The idea that Warren is a buyer at 1.4 x BV, and that at 1.75 BV it's grossly overvalued - and we should head for the hills and take a huge tax hit - to me is folly.
7) I don't understand the logic that "this time is different" due to the changing current political climate and therefore I should sell holds any more water than "this time is different" and that after 30 years of watching BRK plod along at a steady rate and reasonable valuation, why it can't have it's moment in the sun as the rest of the world catches on to what us on the board have known all along are the positive attributes to BRK ownership and trade for 2x BV or more for a period while the underlying business continues to compound.
One final note...I truly love this board and being able to "congregate" with like minded value oriented folks. I highly value the different opinions shared and I'm appreciative for them. But sometimes I can't help but think of what Charlie says about people that try to belabor a point or belief. Often it's really just an attempt to convince themselves they are taking the right action. Which, by the way, is why I greatly hesitated to lay bare my current stance here. But I guess I wanted to present another view and maybe keep people from selling in regret as described in #3 above.
