Buffett's Baffling Billion-Dollar Buyback

Warren Buffett has been a critic of companies that use their capital to buy back stock instead of investing for future growth. He also hasn’t been a big fan of millionaires and billionaires trying to minimize their taxes. None of that stopped him from spending about $1.2 billion to buy back 9,200 Class A shares of his Berkshire Hathaway holding company from what the firm described as “the estate of a long-time shareholder.”