John Hjorth
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Posts posted by John Hjorth
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Last week, his transactions even hit the news media here in tiny Denmark in Europe. Honestly, I don't care one whit.
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The very short version of @gfps reply to you above is "yes".
Even Dataroma does not get correctly. All media coverage has been missing this point for so many years that it is simply verging to being lame by now. Same on SA [, at least partly].
You can find some meticulous work on this in some topics in this forum about Berkshire here on CoBF provided by our fellow board member @Dynamic a few years ago with spreadsheets, comments, details etc.
It's very educational.
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19 minutes ago, Gregmal said:
Is it real that NY is allowing marijuana business but ONLY for criminals? Someone told me this and I honestly don’t believe it. It’s almost as if you think of the worst way to implement a solution or something new to solve an existing issue …IE, COVID, taxes, crime, exodus to Florida, homeless, drugs, etc….and they single out the one thing anyone with a brain wouldn’t do, and choose to do that.
@Gregmal, Thanks for posting.
It makes one think.
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34 minutes ago, Phoenix01 said:
With all the volatility in the energy sector, how would you recommend hedging against sudden market sell offs?
Does buying short duration puts options on long positions make sense? Are there better strategies?
Phoenix01,
If you are asking for advice for handling your oil positions related to hedging, I personally think that you [in reality] are on your own here on CoBF. Please get used to it.
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1 hour ago, valueinvesting101 said:
Valuation of BHE as per last repurchases done by the company in 2020 was around $53.3 billion. It seem to have increased a lot to about $87 billion if 1% stake is valued at $0.87 billion . Seems like very high jump and out of step with earlier increases in the BHE valuation. I wonder if it was done at higher valuation to account for taxes.
BHE Annual report mentions:
What is this 'distributions to noncontrolling interests of $488 million'?Valueinvesting101,
Please take a look at BHE Annual report 2021, p. 95.
Several of the subsidiaries are participating in joint ventures related to : Natural gas, coal, solar & nuclear [, but not wind, hydroelectric & geothermal].
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Well, EDGAR as of now contains no filing for Mr. Abel for a BRK transaction in June. Thus, It must have been in cash.
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Yesmans great observation is in the 10-Q on p. 20, last paragraph.
Like gfp I would be surprised if this transaction was done on a taxable basis, if the shareholder agreement has had the option to do it as a tax free swap of BHE shares for BRK shares [A or B].
I think that the transaction was perhaps done as a tax free share swap, ref. the horisontal line named "transaction with noncontrolling interests" totalling USD M (1,032) in "Consolidated statements of changes in shareholders' equity" on p. 5.
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And in the mean time the Evergrande saga [soap opera?] continues .
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32 minutes ago, changegonnacome said:
Nord Stream Gas Flows to Drop to 20% of Capacity, Russia’s Gazprom Says
Here we go.....its leverage time.....lets see if its aimed at negotiating a settlement to the conflict later this winter.......the grain deal and this are what I would expect from a Russia looking for 'peace with honor'.
Like it or not Macron is correct in that it is not wise to humiliate Putin/Russia........even in a scenario where the West/NATO/Ukraine has stifled Russia & shown its undoubted superiority.
Source [This topic is so far saturated with this kind of biased information because of lack to primary [first hand] sources.
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For a while, none of the posts in this topic has had anything to do with the topic title in this topic.
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Astrid looks great on the photo.
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1 hour ago, Gregmal said:
Crazy isn’t it? That the overwhelming majority of WS money guys make decisions based on their interests even if they are detrimental to the interests of the people paying them?
Perhaps, @Gregmal - In a way it does not matter. Please just continue here on CoBF to be you - yourself.
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9 hours ago, Spekulatius said:
He has got 30% of his fund in it. If he puts much more in it, why would anyone invest in this fund rather than buying BRK stock himself?
@yesman182, this argument by @Spekulatius applies also to several other money managers than Mr. Bloomstran.
Please just try to look up both BRK.A and BRK.B [and look at the data combined for both, too] on Dataroma, for an initial overview.
Qualification : We don't know the exact fee structure of every money manager. But it is likely a lot of money over time in management/performance fees to several GPs, transferred from their individual LPs.
Why pay someone for being patient on behalf of you, when you here can practise it yourself for free by doing squat?
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Within the last few days, there has been thoughts ventilated by @CassiusKing1, @thepupil and @gfp in the General Berkshire News topic related to Berkshires expected future, based on considerations about the future structure of ownership of Berkshire.
For everyone interested in this toic - specifically and in general, I recommend this book.
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The exchange between @CassiusKing1, @thepupil and @gfp above is extremely important longer term for the future development of Berkshire.
I hope one you gents will take the initiative to a topic split from here - to a separate topic - for further discussion.
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Thank you, @gfp & @ValueMaven, for the above exchange.
If one think about it a bit more and a bit deeper, the issue at hand is simply mind provoking, because Berkshire is actually gradually and over time catching and gobbling up its "surroundings" - like a black hole or like the span of the tentacles of a hungry octypus.
Absolutely incredible what the mathematical laws for exponential functions and uninterrupted compounding - plus buy more or sharebuybacks, or both in combination - can produce of longer term economic outcomes.
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Today, I went back the memory lane, to the end of Berkshires quarter when I bought the first few Berkshire shares, almost a decade ago:
Total cash and cash equivivalents at hand : USD 47,776 B [, now USD 39,113, 2022Q1]],
Equity securities : USD 87,088 [, now USD 390,538], &
Equity accounted investments : USD 0 B [, now USD 17,596].
Add to that the reduced Berkshire share count because of share buybacks.
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1 minute ago, greenwave said:
... As I understand it , the additional number of shares gifted this year to the Gates Foundation was significantly more than in the past.
greenwaveIt's not so. 5% of the last years position after giving is donated each year.
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So around USD 19 M for a dinner with an almost 92 years old geriatric [one of the best of his age, that is, however]. Insane capital allocation.
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Priceless reading, gfp! lol! Thank you for sharing.
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Get real & f**c bonds.
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Mike,
I hope you care to elaborate on "nuking up" in your post above.
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Thank you very much for sharing, gfp,
It's very much appreciated. Interesting stuff to dive into.
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On another note, related to what has been posted in this topic recently, the mystery about the omission KO in the notes to the BRK 10-Q about material stock positions has been revealed in the BRK EOP 2022Q1 13F-HR.
A KO stock position valued at USD 29.8 B is now considered immaterial, so that it doesn't qualify to be considered material in the notes of the BRK 10-Q, based on its value, or Mr. Hamburg has decided "the limit" to the "material"-podium to be restricted to five.
Personally, I think we need to get used to things like this going forward. [Berkshire's reporting has been "cartoon-figures" for years now.
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Best wishes for an enjoyable vacation in Spain.
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Ref. gfp's posts above, it appears as Mr. Buffett has been extremely busy with capital allocation during the quarter.
What about the position in Coca-Cola? - Please see p. 8 in the 10-Q. It appears as one of the big positions at year end 2021, but is omitted at end of 2022Q1 in the specification.
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Off topic:
Thank you for your post. You are as always so kind. It's warming. Please read PM from me.
Russia-Ukrainian War
in General Discussion
Posted
@changegonnacome,
Your post above is first level thinking. Second level thinking is about what options do Russia have remaining for now.