So with this quote, can you show me where we disagree? IMHO, Buffett here says exactly, word-for-word, what I said.?
What got me started was your saying this:
I'm pretty much with Buffett on this. IMHO, dividends don't matter.
I continue to believe, as the excerpt demonstrates, that Buffett thinks dividends matter a lot. But what specifically triggered my posting the excerpt from the Chairman's letter was this statement, which you asked me to provide examples to refute:
JB: there is no medium. Either pay out all, or reinvest
WEB: In such cases, shareholders would be far better off if earnings were retained only to expand the high-return business, with the balance paid in dividends
I see a contradiction between those two statements. If you don’t that’s fine. Let’s just make money. |
