Post #4257 by mungofitch on the Berkshire Hathaway board

If you have a moment right now, copy the url of a post you find interesting and email it (or tweet it, or message it) to your friends ever so often. This is the best way to make these boards increasingly active over time. (As for the culture, that has has proven that it is here to stay).

- Manlobbi

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

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This is incredible from a variety of perspectives. First, it is an example of excellent capital allocation. Second, it implies that AutoZone has been structurally mis-priced for decades. Third, AutoZone's $46 billion market capitalization shows the true cost of stock compensation.

It is pretty astounding. If I understand correctly, it could be viewed this way:
In effect, all the original 1998 shareholders were bought out, and the company remaining after that cash left the building was entirely given to the employees. It is all now owned either by the employees, or the people to whom the employees have sold? Ick.

Meanwhile Berkshire has retired already all the shares issued for BNSF, and more.

Jim

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