Berkshire’s Dividend Policy: Part II

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1 Response

  1. Lawrence Cunningham says:

    Those 1050 words you excerpt from the current letter will indeed be going into the 4th edition! Note that the current edition (from the 1984 letter) does have a simpler version of the illustration, using bonds for simplicity rather than stocks. Pp. 179-180. Thanks for the very careful reading of these substantive provisions.