Taxing capital gains income and ordinary income at the same rates would get rid of a lot of complexity, said the technocrat turned philanthropist.
Nearly $500 million is a lot of money, but it's important to keep this in perspective. The shares Berkshire sold represented only 1% of its stake.
Since Clifford was anointed the new chief executive offer in February last year, the firm’s stock price tumbled 36% and assets dropped by $2 billion.
“I don’t think he expected to be insulted, profanely insulted by somebody 23 seconds into his coming out party,” the bond king continues.