Big Larry Guru should purchase the assetmanagement business of emerging superallocator Sanjeev "Cash Bar" Parsad. Recognizing the resulting fifty cent dollapalooza, I am certain CharlesTMunger himself would be buying shares of BH.
I have heard enough. It is one thing to insult one Indian legend in Sardar. Now you are insulting Parsad, and that is where I draw the line. You are not just an awful investor, but an awful human being.
Apologize you w trash or I will report you. You have really crossed the line doody face.
Regarding Big's incentive arrangement: I have been to all the annual meetings and Big has said consistently, on more than one occassion, that investing in BH is analogous to investing in a publically traded hedge fund. Now if you evaluate his compensation on that basis it may be considered reasonable. While most hedge funds get 2 and 20 without any hurdle, BH gets 25% of the increase in book value after a 6% hurdle. In addition he is obligated to use 30% of his incentive compensation to buy BH stock on the open market within a specific period of time after the incentive is paid. Although I would have liked the 25% to be 15%, and the hurdle to be 10% because unlike a hedge fund the investible money in BH is captive, I am willing to live with this arrangement because he has a strong incentive to increse the price of the stock.