This stock is both ridiculous and special.
It is ridiculous that someone as a shareholder would pay directors fees and other expenses when they can set up an international brokerage and replicate it for virtually free.
It is special because the structure is so ridiculous that intelligent people might refuse to buy it and therefore you may be able to purchase Berkshire Hathaway at a good discount to NTA during periods of volatility.
The question is at what discount to NTA does this deserve to trade at?
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