mistakenpoint

I think these moves are meant to prepare Abel for the CEO role. Buffett has said that Greg will be responsible for capital allocation. If Buffett were in Greg’s position, he wouldn’t want large legacy positions from a prior CEO hanging over his head. Historically, when Berkshire acquires insurance businesses, Buffett almost always liquidates the existing investment portfolio and starts fresh. He appears to be applying the same principle here, clearing out outsized positions so Abel can step into the role with a relatively clean slate.

Use the Quartr App!! It has recordings and transcripts of most conference calls. It's one of the greatest inventions.

An interesting question raised on the call concerned the potential for prediction markets to disrupt traditional insurance. A non-response was given, but I believe there is a genuine risk here: market makers such as the Jane Street types could use superior models to offer more accurate pricing on certain types of insurance-like risks.

In the latest 10Q, the increase in cost basis of the consumer products section can be explained by the increase in stake of Constellation Brands. So the confidential company should be in the Commercial, industrial and other category. Will run some screen to make a guess.

Buffett thinks the 5 trading houses were and are cheap and should grow at reasonable rate. His thesis probably does not involve any currency views. Oh, and he can borrow at very very cheap rate. The dividend from these investments more than covers the cost of borrowing. What's your foreign currency margin rate?

The prices payed on that list of acquisitions are wrong for many of them. For example, McLane was a 1.45 billion acquisition from Walmart.

I think Alphabet issues GOOG for stock comp and buys back a lot more GOOG. So more demand for GOOG could be the reason.

FRFHF, MELI

Just closed this now. I generally find puts around 1.5 months out are generally very underpriced for things such as BRK.B, AAPL, COST, when their relative strength is above the high 70's. These opportunities come around a couple times a year. Bought FRPH and Fairfax with proceeds.

Added to MELI

Nice! I used the Oct-25 425 puts.

exited this position and bought some glasf and googl with the proceeds.

It's just a short-term swing trade. With the RSI over 80 and a P/B ratio in the 1.7 range, the recent outperformance is statistically rare

Bought some Berkshire puts in the morning.