Warren Buffett’s Unsuccessful Attempt To Buy Oncor

I am quoted in a Wall Street Journal article: “Return on Warren Buffett’s Attempt to Buy Oncor: Zero“.

“It’s a large cost certainly to Berkshire, in the time and effort put in which is not resulting in any return,” said David Kass, a professor at the University of Maryland’s Robert H. Smith School of Business and a Berkshire shareholder. “But [Mr. Buffett’s] main concern would have been his expected rate of return over time from his $9 billion price, and he wasn’t willing, of course, to go any higher from that.”