**OT** Here's an interesting snip i found:
Imagine how much this guy could have made if he traded more.<G>
While you wouldn't know it from the vast ordinariness of the
fans in Rosenblatt Stadium, many of those in attendance are
millionaires as a result of their holdings in Berkshire
Hathaway. Nestled among the millionaires from around the
globe are people like Bill Cushman. Cushman is a dairy
farmer in Jefferson, Wisc., a small community equidistant
from Milwaukee and Madison. He's no Johnny-come-lately,
having owned Berkshire Hathaway stock since 1959 -- that's
about five years before Buffett purchased the company.
"Aren't you going to ask me what I paid for my shares?"
Cushman queried proudly. "Seventeen dollars," he added.
"Seventeen dollars."
This is only his fourth annual meeting, as he prefers to allow
Warren and Charlie (Munger, the company's president) to do
it on their own. "However, since I've quit milking cows, I'll
probably make it more often," the seventysomething
Cushman added.
When asked how he chose to purchase Berkshire stock, he
told a story that would even make Buffett proud. "I bought a
stock -- I saw a very depressed business with tremendous
reserves," said Cushman. "It was selling below book value
and I just figured some white knight would see it and buy it. I
didn't know it would be Buffett, but it was and I was just
fortunate."
When asked about the possibility of taking profits, Cushman
barked, "Never sold any, probably never will. How could I --
$17 to $70,000." Now there's an argument for real capital
gains reform. |
