That's the approach that I took in April 2021 (serendipitous timing!
) when I invested in BRK.B and MKL (Markel), given that the taxation and administration of ETFs were too complicated and onerous for me. And I had had some money doing nothing for a while such that waiting to find the non-existent "perfect" solution rather than one that was suitable for my needs on many levels would've been dumb (and I've been dumb/distracted for too many years
). I see these investments as a c. 10 year, proxy ETF investment, and supplementary pension fund (having already maxed the actual pension). Obviously there are some caveats, such as them being largely US investments and subject to currency exchange fluctuations (tell me about it lately!
) but they may suit some people's needs. I did look into other similar conglomerate stocks and may still invest in others at some stage. Although, if ETFs generally eventually become subject to the same taxation as regular shares, I will obviously look at them again. Just my tuppence for what it's worth...