An expensive way to buy cheap Berkshire Hathaway
Wachovia is offering 10-year structured debt notes linked to the price of Berkshire Hathaway's "B" shares. *At least that's what they're supposed to be linked to, minus a 1% sales fee and an annual 1% ER... *
says "The notes won't pay interest; instead, they will pay an amount equal to the closing price of Berkshire Hathaway's B-shares, minus a daily adjustment fee."
A decade ago this type of finagling is what led Buffett to establish the "B" shares. *I wonder if Wachovia is going to stampede him into "C" shares?
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