The B-Stock Is a Low-Denomination Product Far Superior to Berkshire, Only Trusts

The B-Stock is a low-denomination product far superior to Berkshire, only trusts. It was created in response to the threatened creation of unit trusts that would have marketed themselves as Berkshire look-alikes. The firm arranged for its offering to carry a commission of only one and a half percent. Its investment bankers understood perfectly what we were trying to achieve.