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02/07/24 4:05 PM

#1117 RE: Prudent Capitalist #1116

The subject of BNSF vs UP comes up occasionally at the annual SH meeting Q&A session in Omaha. Shareholders have asked Warren why UNP's numbers are often somewhat better than BNSF's. Buffett has made it clear that he thinks UP's a damn well run operation.

He'd love to own both if the gov't would allow it, which it certainly wouldn't.

I like RRs, the ultimate moat stocks.