WarrenI should make a little news here. So, you've all come, and you may or may not see this, but it's very possible. One of the things we bought, one of the things I bought, was bought for a different purpose by a different manager months earlier, he bought roughly 15 million shares of Activision. And I never paid, I knew about the company, but I would just see it at the monthly report. But then on January, I don't know, 17th or 18th, something like that, Microsoft announced they were going to buy Activision for $95 a share. Now, when they announced that, at that point, Activision becomes a different kind of security. It becomes what Charlie and I used to call. Well, everybody didn't. Fifty years ago, we call them workouts or something like that. And they become known as arbitrage. Well, they're not really arbitrage. But their securities, in those cases, a common stock, whose value depends not on what the market price does, but whether a given corporate event occurs, an announced corporate event occurs. Well, Microsoft wants to buy, Activision will say, well, they'll say. they've had $95 a share. And they've got the money. And obviously, mergers and big mergers, tech companies, all kinds of things. They've got all kinds of problems with the world generally in terms of opinion. So you don't know what the Justice Department will do. You don't know what the EU will do and all kinds of things. Now, every now and then, I see something that I want to do in that field. and but very seldom because they got to be big the profit is limited you know if they say you're going to get 95 you're not going to get 96 and you may the deal blows up you may have a stock that's at 40 or something so in any event on September whatever I mean on January whatever it was 17th 18 19th Microsoft announces it and the stock which had done that's 60 let's see what it I may have a slide here I'll find, but in any of the stock, which had been in the 60s, went up to the 81 or 2. And that looked like not a big enough spread to me for a few days. Then it settled back a little. So anyway, we now own 9.5%, something like 9.5% of Activision. And if we went over 10%, we would file a report. uh in order that the news people don't feel that there's no news there i can tell you that as of uh yesterday we own about nine and a half percent if we go past 10 percent there'll be a form file with the SEC and so on but it is it is a it is my purchases not the manager who bought it some months ago
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Otheruh and uh if if the deal goes through we make some money and if the deal doesn't go through we make some money and if the deal doesn't go through who knows what happens. But that's, I just want to be sure that if we do file that report, people understand very clearly because there's been some very mixed up stories on that in the past. We want to be very clear that it was Warren Buffett's decision in that particular case and he doesn't know what the Justice Department is going to do. He doesn't know what the EU is going to do. He'd never talked to anybody. Markers thought about it or anything. He's just read a a document he's made his own assessment and it can change and uh one time i think we sold a few shares even uh when i thought it was a little higher than it should be and turn out those sales were not bad sales and so i just want to i want to create a little news for you