In a somewhat-elaborate hypothetical, a shareholder asks via Carol Loomis whether the board would repurchase shares if Berkshire stock falls after Mr. Buffett's death.
Mr. Buffett objects to the first part of the question. "If I died tonight, the stock would go up tomorrow," he says.
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(For what it's worth, Wall Street analysts tend to disagree. Many Berkshire watchers highlight the CEO transition as one of the biggest risks facing the company.)
But if the price did fall in that scenario, Mr. Buffett said, the board would act appropriately if it bought back shares. "If for some reason it went down to a level that was attractive, I don't think the board would be doing anything in the least reprehensible by buying it."
Click here to see the full live coverage of Warren Buffett at Berkshire Hathaway's annual meeting:
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(END) Dow Jones Newswires
May 06, 2017 15:58 ET (19:58 GMT)