Post #4916 by rogermunibond on the Berkshire Hathaway board

Stocks A to Z / Stocks B / Berkshire Hathaway (BRK.A)

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I recall at some point that Buffett has written about not buying deeply discounted long bonds because YTM means you're not being paid until 30-50 years later when the principal is returned at 100% versus the 50-60-70% discount that the bonds were purchased at.

Does anyone have a link or recall when this was discussed - letter to shareholders or AGM?

Thanks in advance.

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