No he couldn't. Microsoft shares have intrinsic earnings, and while the stock price might go down, I wouldn't expect them to go down far enough to generate pre

No he couldn't. Microsoft shares have intrinsic earnings, and while the stock price might go down, I wouldn't expect them to go down far enough to generate predictable excess returns. Lots of people want predictable excess returns and they have enough money to buy all of Gates's shares and then some.