Get over it Warren and pay a dividend

Warren Buffett doesn’t want to pay a dividend – geddit? The Sage of Omaha devoted almost three pages of this year’s shareholder letter to an uncharacteristically dry explanation of his dividend policy – a small matter of 2000 words – but it was hard to escape the conclusion that he was protesting too much.Ironically, in the third paragraph, referring to occasional mistakes made by Berkshire’s managers, he wrote: ‘The usual cause of failure is that they start with the answer they want and then work backwards to find a supporting rationale.’  Swimming in capital  Hmm...Simple argumentsBuffett’s arguments can in fact be...

Warren Buffett doesn’t want to pay a dividend – geddit? The Sage of Omaha devoted almost three pages of this year’s shareholder letter to an uncharacteristically dry explanation of his dividend policy – a small matter of 2000 words – but it was hard to escape the conclusion that he was protesting too much.

Ironically, in the third paragraph, referring to occasional mistakes made by Berkshire’s managers, he wrote: ‘The usual cause of failure is that they start with the answer they want and then work backwards to find a supporting rationale.’

 

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