Berkshire has one major equity position that is not included in the table: We can buy 700 million shares of Bank of America at any time prior to September 2021 for $5 billion. At yearend these shares were worth $11.8 billion. We are likely to purchase them just before expiration of our option and, if we wish, we can use our $5 billion of Bank of America 6% preferred to fund the purchase. In the meantime, it is important for you to realize that Bank of America is, in effect, our fourth largest equity investment – and one we value highly.
伯克希尔一个重要持仓并未列入上表：2021 年9 月之前任意时刻，我们有权以50 亿美元的价格买下美国银行7 亿股股票。截至去年年底，这些股票价值118 亿美元。我们打算在期权到期日前再购入，如果我们愿意，还可以将美国银行50 亿美元利率为6%的优先股投资作为购买资金。与此同时，各位必须认识到，实际上美国银行是我们第四大的普通股投资，也是我们十分看重的一项投资。
