"bearing in mind the BB can only buy 5% above VWAP" - It is still confusing.
- 1/ We are to buy back at lowest possible price = good
- 2/ Only buy 5% above VWAP = rule
- 3/ We are not to make market = understood
- 4/ We are to meet market = understood
- 5/ Yet we make market by driving sp lower because of point 1/
- 6/ Thus point 3/ is not met, yet one might argue point 4/ is met, and point 2/ tells us it is following the rule, which was in fact manufactured by point 1/
Confused = Good
Ann: Update - Notification of buy-back - BRK, page-75
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