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Nov 24, 2023Liked by Kingswell

Thank you for the reminder on BRK's earlier debt tranches. Should Japanese interest rates rise meaningfully in the years to come, how likely would Buffett buy back those bonds at a meaningful discount to the issue price. I understand that the bonds do provide a currency hedge, but at (a hypothetical) 50 cents on the dollar would that be something BRK's management would entertain? I recently listened to a great interview with John Malone on CNBC. In the conversation it was clear that he is advising his companies, Charter and Warner Brothers Discovery, that they should delever by buying back their debt a large discounts.

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Great article!

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