AUDIENCE MEMBER: Good morning, Mr. Buffett, Mr. Munger. If you want to trade a share of Berkshire A for 30 shares of Berkshire B, as you had mentioned before, a personal stock split, or vice versa, is this considered a wash sale for tax purposes? Also, I’d like to ask you a question which you’ve heard before, but in a slightly different context. A few years ago, you said you had made a mistake by not buying shares of the major pharmaceutical companies around 1993.
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2001: Should Berkshire basket investment in…
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AUDIENCE MEMBER: Good morning, Mr. Buffett, Mr. Munger. If you want to trade a share of Berkshire A for 30 shares of Berkshire B, as you had mentioned before, a personal stock split, or vice versa, is this considered a wash sale for tax purposes? Also, I’d like to ask you a question which you’ve heard before, but in a slightly different context. A few years ago, you said you had made a mistake by not buying shares of the major pharmaceutical companies around 1993.