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Unspoken in Buffets letter is the problem that these unrealized gains cannot be realized in a short period of time. The size of Berkshire Hathaway's holdings i
by entwife 7y ago
Unspoken in Buffets letter is the problem that these unrealized gains cannot be realized in a short period of time. The size of Berkshire Hathaway's holdings is such that, if they were quickly sold, they would fetch a lower price - they would saturate the available buy orders and move the reported valuation (average sale price) down.
- ikeboy 7y agoAnd if you had to liquidate all of Apple's assets, or Google, or Microsoft, or any public company in a short period of time, you'd realize a much lower value than their reported book values. Your point?