Via Alpha Ideas:
This was in reference to the 2014 sales of Berkshire's position in the British supermarket company Tesco.
It was not Warren's first use of the metaphor.
In 2007 (pre-collapse/conservatorship!) he was testifying in the government's case against Freddie Mac's CEO and asked why Berkshire had bailed on a long-held position in the stock. Buffet mentioned earnings smoothing as the
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