Memo from Warren Buffett on Insider Trading Sent in May 2010

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A memo from Warren Buffett to Berkshire Employees, sent last May and in place for over 10 years H/T to It would seem from a quick glance that Munger did not violate the code of ethics, but Sokol might have. Munger bought the BYD shares years before Berkshire bought them, while Sokol bought the shares around two months before Berkshire announced plans to buy out Lubrizol, and almost immediately recommended the company to Buffett. This is just my take from a quick reading of the document.  I am curious if readers think David Sokol with Lubrizol, and or Charlie Munger with BYD violated these principles?


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