John Hjorth

I just ordered this book today, based on the book being mentioned by Saluki in the BAM topic in the Investment Ideas forum in post #651. I had to search on three amazon domains [.com, .de & .co.uk] to get it the way I want it: New & hardcover. Found it at .co.uk. [As far as I read it, the last available hardcover specimen.]

Obviously, Miss [or Mrs.] McKenna is by attitude short incompetent auditors and auditors clients, who play the game. That's to me OK. So, basically, here, she's taking on Mr. Hamburg, what ever she has up in her sleeve right now. It'll be interesting to follow going forward, for sure.

Hang Sen looks down this morning, while European indices in general are in black this morning.

investmd, It's discussed in depth in this topic within the last week or so.

That's the correct spirit. It's all about mindset. Even Mr. Munger sometimes stumbles when it's about this: "All I want to know is where I'm going to die, and I just won't go there"? - What does that imply, if your dearest wish is to pass away between the legs of the Lady of the House?

Wichita Business Journal [October 11th 2018] : FlightSafety CEO Bruce Whitman dies at 85.

I actually think about it exactly like you, alwaysinvert. And, yes, it's speculation.

compared to: If this theory is correct then I gather there is no buyback pause during the blackout period? That would be a pretty major drawback to a more actively managed buyback program - 4 months a year where they can't make repurchases. So, last week pretty strong resistance to general market price moves [outside the blackout period], ref. post #109 by sleepydragon, - this week [inside the blackout period] it moves around in the market price spectrum basically [give or take a bit] like any other stock. Thoughts, gents?

That would actually be great, if Berkshire had something listed on its watchlist, that would fit with regard to price in this situation. Time will tell.

Decided to add a bit to BAM today instead - not sure if doing like npk would have been better.

The Investor, I suppose, by inverting the Berkshire Buyback Ammendment of July 17th 2018, that would be when Mr. Buffett & Mr. Munger deems the Berkshire market price to be above intrinsic value per share, as one condition, out of maybe several.

Great explanation of your use of writing puts and the way you think about it, Mike. Thank you for sharing.

I'm still thinking about longinvestor's last post in this topic. From the special [anniversary] letter released February 27th 2015, p. 36: The changed buyback regime going forward was released on July 17th 2018. -So not "probably between ten and twenty years from now", but actually more like 1,236 days, which equals roughly 3.4 years, likely caused by a combination of Berkshire performing well and deal flow drought. [1] © Warren Buffett

Thank you for the elaboration here, longinvestor, Now I understand your former posts here on CoBF on the matter much better. I'll read Mr. Cunningham's book.

Here, I'm focusing on a part of a post made in this topic by longinvestor. I really want to understand longinvestor's line of thinking. The exchange, that longinvestor is referring to here [i assume], took place on June 30th 2018 in the topic "Berkshire - cheap?", posts #195 to #202. Here I'm nitpicking the heck out it - I'm simply bending it in neon, as my understanding now of longinvestor's line of thinking & proposal as I understand it now [longinvestor, please correct me, if I still don't get it correctly]: 1. Mr. Buffett - at his own discretion, based on what he personally considers fit, based on what ever [, including Berkshire stock market price] - decides to donate USD X billion worth of Berkshire stock to 1 - 4 foundations, as a one time gift, - and execute on it - on top of the 2006 pledge with amendment, as an "extra" - converting A shares to B, and to give them away. [with no promise to do it again next year etc. [, but he might perhaps do that actually ... - again, at his own personal discretion]]. 2. The board of Berkshire and management bodies of the 1 - 4 foundations negotiate a private buyback deal for the shares just donated by Mr. Buffett, with every person in those management bodies being disaqualified because of conflicts of interests outside the negotiation room: Mr. Buffett, Mr. Gates & and his wife, & Mr. Buffett's descendants for the three family foundations. [Again, depending on which foundations involved.] Did I get it right this time, longinvestor?

Agreed! - So we'll just have to wait to next 10-Q and see. The observation made by sleepydragon is actually quite striking. I really hope this is a material change in the buyback narrative, as longinvestor has called it. - Wait, wait, wait ...

globalfinancepartners, Would such a filing have to be released on the SEC website, or can it be withheld from release on the request by the filer [here: Berkshire]? I have studied the SEC 10b-1 plan FAQ, it seems to me to be mute on that particular question. [There is no such filing from Berkshire right now on the SEC website.] Your posts on this matter are highly appreciated. I learn a lot.

Boilermaker, I just hope that you - some day in the future - will share your experience over time with these kind of trades here on CoBF. I bet it'll be educational!

That actually reads like you have done a great short term trade in Berkshire, Cigarbutt, To me it reads like you have done 6 - 7 percent within about 3 weeks on north of 10 percent of your total capital. I came across a tweet by Ed Borgato today: A part of it is also about learning about ourselves, right? [ : - ) ]

I received this book from amazon.de today. [Cheapest for me get it there.] -Great timing, up to a weekend! [ : - ) ]

Hick-up by Mr. Powell, I think [perhaps contextual]. He, for one, knows the world isen't working that way [, ref. LongHaul's post]. Mr. Powell actually has a big star at me personally.

That reads likely and makes sense, longinvestor. Thanks.

Do you gents consider this "normal procedure" for Berkshire, not appointing the successor in the same announcement? -Perhaps an external candidate in the binoculars?

Great one, Cigarbutt, From the article: I picture the regulators then sitting scratching theirs heads, boiling the whole thing down to the fundamental question: Q: "How do we regulate a rock?" A: "We don't." [ : - ) ]

Primary source: Bernie Sanders [October 3rd 2018]: Sanders, Sherman Introduce Legislation to Break Up Too Big to Fail Financial Institutions. Links to Bill, summary etc. in lower part. I don't see Berkshire mentioned in the documents [, but it may be embraced by this in case Bill passes]. As we all know, Berkshire did not get help under GFC. I haven't listened to Mr. Sanders' announcement [a 30 min. clip on FB].