To: HAL9000
And the Gates Foundation will invest it in Berkshire Hathaway.
4 posted on
06/25/2006 1:20:38 PM PDT by
beethovenfan
(If Islam is the solution, the "problem" must be freedom.)
To: beethovenfan
And the Gates Foundation will invest it in Berkshire Hathaway.
There is no "market play" in Buffett giving Berkshire Hathaway shares to the Gates Foundation, for the Foundation then to sell those shares and then reinvest the proceeds (net of commission) back into Berkshire Hathaway. The only one that "scheme" enriches is the broker.
Besides, according to the article, Buffett will require the Gates Foundation to spend all he donates within one year from when it is given.
The $1.5 billion annual giving represents an amount that is less than 1/3 of the trading volume in BH stock in ONE DAY! That is why Buffett can afford to give away so much stock without pushing down the price and stiffing his fellow shareholders.
33 posted on
06/25/2006 2:30:23 PM PDT by
kenavi
(Save romance. Stop teen sex.)
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson