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“Shareholders having at least $20 million in value of A or B shares and an inclination to sell shares to Berkshire may wish to have their broker contact Berkshi
by nodesocket 7y ago
“Shareholders having at least $20 million in value of A or B shares and an inclination to sell shares to Berkshire may wish to have their broker contact Berkshire’s Mark Millard at 402-346-1400. We request that you phone Mark between 8:00-8:30 a.m. or 3:00-3:30 p.m. Central Time, calling only if you are ready to sell.”
$BRK.B holder myself — What is this? Is this essentially if you have a big enough position you can sell us your shares directly for a better price than on the open market? Doesn’t that seem unfair to retail/small investors who have to trade on the open market?
- unlinked_dll 7y agoI'm guessing they have a number of shares they want to buyback and it's simply not worth their time trying to wrangle them from investors with less than $20 million worth
- mrfusion 7y agoI’d like to introduce you to the open market. Weekdays 9-4. Buy and sell any shares you’d like.
- otherme123 7y agoSelling 20 millions would cost you a little fortune in broker fees. In turn BRK are buying back and paying brokerage. It makes sense to sell directly. And I don't think you get a better price than the market even selling 20M, you just sell at market price. This saves money to YOU, the shareholder, so you should be happy with it.
- nodesocket 7y agoBroker fees? I assume you mean the individuals entity that manages their portfolio charges a fee. Obviously when you have that much wealth you aren’t using E*Trade or Schwab $0 commissions trades.
- mrfusion 7y agoYou can certainly have that many shares in a normal brokerage.
- ericjang 7y agoI am curious if anyone has called Mark Millard and requested what BRK's bid quote for >$20M shares is.
- mrfusion 7y agoI thought that was bizarre too.
- kweinber 7y agoThey are offering to buy back large blocks of shares at market or at a slight premium over market for long-term loyal investors. It is a great offer to you because you may move the market down just by trying to sell such a large block.