> When pressed on the issue, [Warren Buffet] has told shareholders that a lower price would bring unsophisticated short-term investors into the stock.

With respect to Buffet who has talent and is not a total fraud he gets a large fraction of his outsized returned in trades not available to you and me. Off market placements for example. Do you think your returns would have improved if you could buy Goldman Sachs at a 20% discount to market? Yeah me too.

Marketing and promotion is one way he gets those offers you and I don't. (No not the only way, he has billions to invest too, but his name helps). Having the highest share price for a single unit of stock is something else to talk about and color a story if you're reporting it. He's very good at this promotion. His annual letter was a previous generation's version of Elon Musk's tweeting, hiring onion writers, flame throwers and so on that gets Elon so talked about.

It's a skill, a talent. Finding the opportunities and exploiting them in a way that doesn't significantly blow back at you. Buffet executes it brilliantly. Something to consider in your own business. Is there something else you can exploit like that which would make for a paragraph in the story of your company?