Berkshire Hathaway Class B Message Board

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Non-Tech : Berkshire Hathaway Class B

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To: Leroyt who wrote (445)	1/15/1999 12:01:00 PM
From: 16yearcycle	Read Replies (1) of 1652

There can be no longer be any doubt that there is still selling in brk.b related to the grn merger. The spread is $2000 between b and a this am. Now that we know, it is simple a matter of patience. All the shares will have been exchanged by 3/1 or soon after allowing for the transaction to occur. I thought I understood the underlying mechanism of the market better than this. I don't understand why anyone would wait for the merger, get their shares locked up, and then sell when getting b! And why would anyone who hasn't acted yet, get the b shares when the a shares are worth more? You would grab the b shares if you wanted to hold for awhile to allow then to appreciate, and you would get the a shares if you wanted to flip the shares. I can't imagine all this activity is not institutional, and since it must be, how or why would an index fund manager do something this dumb? And I am pretty sure they violated their bylaws by allowing a conversion into a non-index equity. Anyway, the opening imbalance is a view of things to come. I would guess that a huge jump will eventually occur to reduce the spread. I doubt a will drift back to 60,000 to reduce the spread, but what do I know?

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