5 Comments

I have to object to your comparison of Snowflake's buy-back policy with that of Buffett and Munger at Berkshire. The two are nothing alike.

Here is your clue from your article:

Mike Scarpelli -- Chief Financial Officer: "...given the $5.1 billion we have, we think it'd be great to manage dilution through that. "

The word "dilution" being the operative word.

Stock Based Comp is one of the most abused aspects of corporate finance today and Snowflake is one of the worst offenders. (Read: https://rockandturner.substack.com/p/a-free-lunch-no-such-thing).

Because of this abuse, Snowflake needs to manage dilution. So the repurchases are not for the benefit of investors, they simply mask the enormous benefit to insiders at the expense of shareholders (It is shareholder capital being allocated to offset that dilution)

Berkshire Hathaway is one of the best run businesses on the planet. They wouldn't dream of screwing their investors and never engage in stock based comp. In fact, Buffet has confirmed "We will have a significant part of our net worth in Berkshire shares, bought with our own money.”

There is a right way and a wrong way to do buy-backs. Henry Singleton was the best (read: https://rockandturner.substack.com/p/henry-singleton-learn-from-the-best).

Until the SBC issue is resolved at Snowflake, I would caution "caveat emptor!"

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It is so cool that you would receive envelopes of credit card and hotel receipts from pro golfers and tennis players while you interned! Its crazy to think that nowadays, it would all be done virtually.

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author

Okay, sure. I follow your question. All you have to do is put a $ before the ticker and hit a space bar after it. So like Microsoft ticker is MSFT, and in order to get it to do the lookup on the price in your edition you enter it as $MSFT and it will/should do the rest.

Another example would be Amazon, AMZN... enter is as $AMZN and it should provide the price.

Good luck and Cheers to you.

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