No. of Recommendations: 2
Good morning, if you have an easy way to find it I would love to read my old post, “ foundation sales forever effect,” thanks even if it’s too hard to find. Who knows the fools may have put me in the deceased file and deleted all my posts? ::))
Hi, this is what I found with a *quick* search (we are getting ready for a long trip, I really shouldn't be data mining). I have 53 posts of yours, all from the BRK board, and Maple thought this was the most relevant one. It was a reply inside a larger thread; I can get you the whole tread if you like. Based on this post date, I suspect you did a lot of posting after my capture epoch. I am slowly backfilling these posts from the Internet Archive, but this is what I have now. I don't have a great way to transmit these things yet, unfortunately.
MessageID 28211852
Post Date 2010-01-07 12:55:00.000
Recs: 6
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jim, rule 10b5 came into effect in the early 2000's after I retired in 1994 so I never used it. I had to use RULE 144 and File form 4s in my 25 years of selling restricted securites. My friends who are still active have used rule 10b5. Keep in mind if you were the brokers holding these 10b5 orders to sell, in the real world, would you trade the stock from the short side, knowing you can cover your position from the Foundations when you need too or from the long side knowing the Foundations had stock to sell, every day ? It's a bit complicated but I'm sure you get my point. Buffett and Gates didn't handle this very well. Buffetts position that the FSFE, foundation sales forever effect was NOT material in a stock that trades like brkb does is wrong, flat out wrong. The 50-1 split is step one in dealing with this issue.
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