David Rosenthal: evaluation

Transcript context

…Yeah. Who else? The Google guys I imagine are concentrated, but I don’t know that, I can’t speak for anybody else. Obviously, Bloomberg is concentrated. Well, I think in practice it all works out the same way of, there’s one thing that is everything. Yeah. And look. If you sell it, you’re just going to pay capital gains taxes. If you’re really just being a financial monster about it, you got to decide, will Microsoft underperform the index by enough to offset the capital gains taxes. I don’t need the money. I got plenty to live on without selling anything. That’s number one. Financially, where’s that money going to go? Some will go to my kids, but most of it’s going to go to the government or to philanthropy. Why would I sell, so we have less to give to philanthropy someday, unless I really think Microsoft’s going to underperform the market by essentially the capital gains rate.…

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