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The week's question
In March 2025, in the thread "Re: OT, out", Umm asked the members: "Do you think it is because America is made up of magical soil that makes businesses based in America magically profitable?" This week it is put to everyone again. The button below opens the small thread re-asking it - read what others have said so far, then give your own answer as an ordinary reply.
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Stocks A to Z / Stocks B / Berkshire Hathaway (BRK.A)
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Author: mungofitch ✹✺🐝 SILVER
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Number: of 22346 
Subject: Re: Dear Mr Buffett, and your letter next week.
Date: 11/28/25 9:16 AM
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No. of Recommendations: 29
The simple reason that the originators of individual trades are not disclosed is the same reason the length of Mr Buffett's lunch is not disclosed: we have no inherent right to that information, and it could conceivably be to the detriment of the firm somehow if publicised.
...
This is absolutely ludicrous. Buffett's lunch is none of my business. Todd or Ted screwing up is absolutely my business. Please. If say Todd Combs (more likely than Ted Weschler) makes dumb decisions, I as a shareholder have a right to demand that Berkshire at least keep a tighter leash on him. Whether they do or not will decide my allocation to Berkshire and indirectly my retirement. This is not a game.


Of course it's not a game. It's being run for the financial benefit of shareholders, not for your entertainment. It is better for me, and all shareholders, if you don't know who made that purchase, so my suggestion is to just get over it. You'll have to get over it anyway, so might as well be at peace with it : )

Do you know who made the decision on any given purchase for any other company or fund? Nope, only on the rarest of circumstances, when somebody decides to announce something (talking their book, generally). It's for a reason. Ideas are very valuable, and inferences about who is doing what/when erodes the value of those ideas, and by extension the value of a share. For example, in this case, if the decision had been that of Mr Buffett and that had been disclosed, it's likely that many market participants would make assumptions about further purchases in the next quarter and would likely bid up the price. If that was indeed going to happen, it directly hurts the value of a share because those subsequent purchases would be at worse prices.

We get to see the aggregate amount of equity purchases, sales, dividends, and portfolio market value changes. By a quirk of history almost all positions and their sizes are made public as well. That's more than enough.

Simply put, Berkshire has a broad policy of not commenting on current positions or current trades, and we're all better off financially as a result. I'm happy with being better off financially.

Jim
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This community has written 21,850 posts about Berkshire Hathaway. The article-length ones it recommended most:
BRK: Why Not XOM? · 62 recs · 2024
Second quarter comments · 60 recs · 2023
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Summary of 2Q 2026 · 55 recs · 2026
3Q Summary · 53 recs · 2024
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