My goal is to get an investment that never needs to be sold and eventually provides a return on investment through rising dividends or share buybacks. The ITIC dividend, though modest now, sends the signal that management is not opposed in principle to letting shareholders actually receive a return on their investment.
Once I posted a hypothetical question on the PNRA board about whether or not a stock could have any value at all if it were known for certain that the company and any successors would never, ever pay a dividend or buy back shares. I believe that such a stock would be worthless. What's the difference between a stock certificate in such a company and a mere piece of paper?
Summary: I want eventually, with hindsight, to regret not having purchased even more!
Your hypothetical question has the aura of a grad-level college philosophy course. I have consulted Wittengenstein and Kant and they tell me that they don't have an answer.
Closer to reality, I don't think Berkshire Hathaway has ever paid a dividend or bought back shares. Of course there is no "certainty" that they never will. Nevertheless, Astral and I are insulted that you are hinting that Berkshire is almost worthless.
If you want to redeem yourself in our eyes, you will place market orders on Monday morning for 10,000 shares of ITIC and 10,000 of BRKA. We are counting on you. Put it on your visa card if you have to.