DON’T LET THESE BOOMERS SCARE YOU! Stopped reading when I saw Munger is 97 y/o.

lol no need to be sorry and I get that my opinion is not “popular”.

But going back to your response, a buyback does not mean the company pays cash to the stockholder. A stockholder only receives cash once the stockholder sells the share. A stockholder in Berkshire is never the direct beneficiary of how the underlying company does. Because of this, it’s no different than a company like Tesla with high valuation but also never pays out shareholders. Stock price is driven by supply and demand of perception in a company. If I think there will be a huge rush in demand for Berkshire shares, I’ll jump on Berkshire. I don’t care about fundamentals because it’s an illusion since Berkshire itself will never give me as a shareholder anything. I would rather hold a stock of a company that pays me 100% dividend. I don’t care how they do it. You can argue they need revenue but that’s false. There’s many ways to generate revenue (loans, selling more stock, sell assets).

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