Luckyciaran

I want to point out there's a 50 basis point yearly currency fee. That's how cibc makes it's money. As far as a your question this is what I found. Hope it helps: No, Canadian Depositary Receipts (CDRs) like CIBC’s Berkshire Hathaway CDR are not considered U.S. situs assets. Here’s why that matters: U.S. situs assets (e.g. U.S. stocks directly held by non-U.S. persons) are generally subject to U.S. estate tax if their value exceeds $60,000 USD. CDRs are traded on the NEO Exchange in Canada and structured by a Canadian financial institution (CIBC). Legally, you're not holding the U.S. shares directly—CIBC is. For Canadian residents, this avoids U.S. estate tax exposure, and CDRs are treated as Canadian securities from a tax and reporting standpoint. So if you're holding something like BERK.B CDR, you get synthetic exposure to Berkshire Hathaway without triggering U.S. situs tax concerns.

Hello, Long time reader of the Forum, First time poster. I will be attending the Ben Graham conference on Wednesday. I would appreciate the opportunity to meet in a smaller group before going to C'est What. if you have room for one more. I attended the Fairfax meeting in 2022 but this will be my first Ben Graham conference. Thanks, Ciaran