thanks jad, good read but Salmon doesn't raise the critical issues either. The Sokol lz mess no doubt made the SEC aware of the BYD compliance issues while Sokol was defending himself. Has the SEC completed the investigation yet ? The 64 BILLION dollar question is, did Munger, the partnerships, or any affiliate of Munger trade BYD, did they ever sell any byd while brk was buying or after brks buys were completed ? IF, IF, they sold any BYD was it DISCLOSED and how was it DISCLOSED ? If, IF, with many FFFFFFFFFFs, IF Munger or any affiliates sold any BYD, Munger should be gone, period, end of story. Buffett is loyal to a fault, we have seen that in the past but we need transparency and disclosure with respect to these questions. IF Munger or the LU partnership did trade BYD , Munger should be a decent enough guy to have already resigned but Munger is so clueless and sloppy when it comes to compliance it won’t shock me if we find out he did trade the stock or if LU did. Did Sokol ever buy byd in his own acct before brk did another question I asked long ago ? Some day Buffett will feel we deserve transparency and disclosure, some day. Maybe next year Becky will ask some substantive questions , lol. This area of the SEC regs I know, been there, done that, trust me.
Disclosure I retired in 1992 so I have no idea what the RULES and REGS are today and I have no idea if any RULES apply to buffett or munger anyway ? As long as Obama wins I doubt we’ll get any serious SEC heat, going forward.