John Hjorth
-
Posts
4,883 -
Joined
-
Last visited
-
Days Won
14
Content Type
Profiles
Forums
Events
Posts posted by John Hjorth
-
-
Thank you for sharing, sleepydragon.
-
The book landed here at me yesterday morning. Pretty amazing how great word wide logistics is working nowadays! - From what I've read in the Twittosphere, that's one day later than in the US.! [I'm a Northern European citizen [Denmark]].
- - - o 0 o - - -
It immedially jumped Kilpatricks "Of Permanent Value - 2020 Elephant Edition" [the green edition] on the small table between the TV-chairs of ours! - I got some "snake eyes" from the Lady of The House for doing that - ... to which I responded : "I can't really judge if this is a horny two-days-old, or "the green one" is a really "yacky" phedophile!". Response [again] : More snake eyes!
- - - o 0 o - - -
I've started reading it - really seriously! -With "seriously" I mean : Every spare moment I have, I grab the book and continue reading, and so far, I'm turned on! -I passed out last night in the bed with the book! I'm already sure this book is very different than other recent books about Berkshire, however it will take some time "to take it in" and digest it! - It's really a "brick"!
More to come here from me!
-
Thank you for reposting and sharing anyway, gfp.
-
gfp & sleepydragon,
Please repost! - Personally, I'm all ears! [please read : "All eyes!"], -thank you in advance! [ : - ) ]
-
ValueMaven & backtothebeach,
No matter what the reality is [we will see soon], the observation by ValueMaven is still interesting. I've been following Statens Petroleum Fond Utland for many years now, but have not looked at it in the last two calendar years. I will take a look at it again in due course, and report back here in this topic.
Here, it's not [related to the management principles for Statens Petroleum Fond Utland] only about Berkshire ESG matters, but also about Berkshire Corporate Governance.
I'm personally really, really tempted here to go fully invested [which I haven't been since the autumn of 2017], in Berkshire, with new additions considered a trading position.
-
I'm actually not totally sure that I to the full extent understand the last post by Jurgis here in this topic,
I mean, shoudn't this poll be two dimentional? [The "second dimension being "old members" [from before the migration to the new software platform], who will maintain their privileges from "the old forum platform"], and new members?
-
Within the last couple of days, I've :
1. Added to BRK.B,
2. Added to BAM,
3. Added to MC.PA, &
4. Added to SCHO.CPH,
[all, small additions],
Furthermore,
5. Added to NORTHM.CPH, [North Media A/S]
6. Started a new position in SPG.CPH [SP Group A/S], &
7. Started a new position in RTX.CPH [RTX A/S].
- - - o 0 o - -
All small portfolio movements.
-
Thank you for sharing, gfp,
It certainly appears to be an interesting acquisition candidate for Berkshire. I really can't imagine a company with this kind of activity ever loosing its relevance for societies going forward long term.
It'll be interesting to see what the founding family does here. Is it about maximizing the economic outcome of a sale [where the buyer[s] suck[s] every drop of blood out of it, with the intent afterwards to flip it], or will it be about finding a new good & permanent home for the company, with a new & supportive owner, also willing to support new ventures with capital, if needed.
-
For those of my fellow CoBF members, who continue to try to distort a topic like this into a political discussion, here we go :
1. Enter the main page [www.thecobf.com],
2. Hover over "Forums",
3. Then your are opted to choose between "INVESTMENT FORUM" or "POLITICS FORUM", &
4. Make your choise, according to what's on your mind!
- - - o 0 o - - -
It's that plain simple [,and then, yet not, based on what your purpose of holding an account here on CoBF really is!].
-
ValueMaven,
You'll likely get some feedback in this topic, when the CoBF members, who have ordered the book, will post their experience while reading this book.
- - - o 0 o - - -
NB : -& personally honestly [& likely very biased] : Snowball up where the sun doesn't shine! - I simply hate that book!
-
Here is a podcast interview with Adam Mead about the book :
It's pretty evident from the interview, that Adam is extremely well wandered in Berkshire, and that his Twitter handle BRK_Student dresses him well! [ : - ) ]
-
23 minutes ago, DooDiligence said:
This new platform seems similar to the Joomla CMS. There should be lots of plugins, coms and mods which allow extended functionality and I'm guessing the design can be rapidly re-slicked using different templates.
The site is out of the sandbox now & I imagine Sanjeev & the devs will be tinkering to get things just right.
I like it when things change. It forces me to work differently.
Yes, Jeff,
I, too, am comfortable this will be a leap forward for CoBF as a whole, to become a better place for everyone here. We need to give Sanjeev the time to set up things to our purpose.
-
Posted as a draft by me in the morning my local time [Denmark] on March 31st 2021, without pressing "submit":
"Woah! , -thank you, Sanjeev! [ ; - D]
-Earlier today [this morning, my local Northern European Time], I noticed the site going off line, with an unusual reponse message. It looks great! - Much more phone & tablet friendly!"
- - - o 0 o - - -
Now, going back to this topic, -what I then wrote, is "still here", as a draft! [cached].
- - - o 0 o - - -
All migrations to another software platform are challenges. I've spent the last few days just looking around for myself to see what - over time - will come to be available to us CoBF members. -Holy-Go-Molly! [ : - ) ] -It sure looks good! [ : - ) ] -A quantum jump compared to the former Simple Machines forum platform!
- - - o 0 o - - -
We solve the challenges with the new platform by cooperation and sharing af experiences - as we always do here on CoBF! - simple as that.
- - - o 0 o - - -
Sanjeev, We're all in need of test topic, - or a test forum [sub board] - to mess around with things here on our individual accounts - to get going! -I hope you'll open one!
-
Paul,
In way, it's beyond me, why you're interested in people, who have [basically] folded, and closed up shop. What value do you get out of the information about the late innings?
-
[size=2]When I read longlake's post a few days ago, I applied to TICKR.com, wihtout any invitation. I got the invitation to create a new account today [a bit surprising to me].[/size>
[font=Verdana][size=2]Now it's up me what I get out of it.[/size][/font>
[size=2]Thank you for sharing, longlake.[/size]Now, I have had enough of this topic. To me, a perfectly reasonable topic to start, with good intentions, now drowned in all kind of political *BS* & "vanilla" [understood as "plain"] *BS*.
After this post, I'll press the "Unnotify" button , & do my very best never to read - nor post in - this topic again, and let you all - my fellow CoBF members - live your lives according to your personal opinions & personal choises.
Those of you, who want to discuss still, to me, suffer from a personality disorder about aiming control over other people's behavior & doings.
In short, you have nothing to sell - there is no demand - and no gross margin on - demand from those of a different opinion compared to your own.
So, let it go. It's waste of your time discussing it here. Every CoBF member has [naturally] already given this matter meticulous & careful consideration, each to their own.
It's beyond me, what the impact & influence of discusssing this issue with others, has to do with the outcome of our own personal decisions.In slide ‘BHE GT&S Acquisition Overview ‘, it is stated “BHE financed the acquisition with 4.0% perpetual preferred stock issued to certain subsidiaries of Berkshire Hathaway Inc. for $3.75 billion, ”
Would anyone know if this is a common tax advantageous move or something more…
cheaper source of capital and highlights the capital allocation between and under the Berkshire umbrella ...
Interesting to note that Greg Abel owns 1% of BHE - or $570M stake in the business.
Please note Berkshire Hathaway 2020 Annual Report, p. K-101 :
Note 17 : Outstanding notes and other borrowings :
A bit processed [& thereby simplified]:
BHE : USD B 52.153, &
BNSF : USD B 23.220,
Total : USD B 75.373.
And then [same page]:
... BHE subsidiary debt represents amounts issued pursuant to separate financing agreements. Substantially all of the assets of certain BHE subsidiaries are, or may be, pledged or encumbered to support or otherwise secure debt. These borrowing arrangements generally contain various covenants, including covenants which pertain to leverage ratios, interest coverage ratios and/or debt service coverage ratios. In November 2020, BHE’s subsidiary debt increased $5.6 billion for the debt assumed in connection with the Dominion pipeline business acquisition. See Note 2 to the Consolidated Financial Statements. During 2020, BHE and its subsidiaries also issued new term debt of approximately $7.6 billion with maturity dates ranging from 2025 to 2062 and a weighted average interest rate of 3.2% and repaid $3.2 billion of term debt and reduced short-term borrowings. ...When you have read so far, and taken it in ... - please read it again!
-Covenants related to leverage ratios, interest coverage ratios &/or debt service coverage ratios! -Imagine a debt holder approaching Berkshire with an allegation of breach ... -What do you think would happen? [My bet : Allocation to the [non-existent] department of "Berkshire "Academia""] : Just let BHE issue more preferred capital!, - which Berkshire itself will finance / take on.
- - - o 0 o - - -
This is all about minimizing & reducing "roll over" / refinancing risk [on USD 52 B] in a "100 year "black swan" [frozen financial markets] event" [, which happens much more frequently than every 100 years].
Is it just me or have posts begun getting cut up for ad placement?
If so, Sanjeev...can we solve this problem the way everything else in the world gets solved? Those who dont want to see ads everywhere pay a few bucks to prevent this?
<Off topic> :
Greg,
I suppose ads started popping up embedded into posts [and embedded posts] a few months ago.
Personally, I'm with you on this matter. It would be nice with an optionality here.
[PS: I just visited RedTube ..., At least no "cookie reaction" here by that! [ ; - D ].]
<End off topic> & <Back to topic>
Each to their own,
The whole situation with regard to Texan energy supply is to me so lame. [it's now about 20 years - or so - ago here [Denmark, Northern Europe], that the grid [basically] got burried into the ground - to avoid such situations as in Texas recently]].
I remember Mr. Flatt constantly over the last few years talking about funds to step in to solve basic problems & provide solutions for basic needs, while public authorities or entities simply can't, or won't, deliver the services needed for the population in certain areas.
Castanza,
Please read your fellow CoBF members' posts with an open mind, & a good deal of mental flexibility and tolerance, and from the perspective that every member has the best intentions to contribute in a constructive way.
Calling named CoBF members out for basically calling you an idiot [, to me personally, when they don't do], is just such a "no-go" & bad form. It only leads to conflicts, clashes & the like here on CoBF, causing good people here to leave CoBF, because they've got enough of it.
Please make your own personal choice with regard to receiving a vaccine or not. It's a personal matter [to me, deeply personal, indeed].
Thank you for educating me, Jeff ! [ : - ) ]
Jeff,
You're a Southern US citizen, so it happens - from time to time - that I'm at a loss, to really get what you're posting.
With regard to "grok", I've found this :
... 'Grok' means all of these. It means 'fear,' it means 'love,' it means 'hate'—proper hate, for by the Martian 'map' you cannot hate anything unless you grok it, understand it so thoroughly that you merge with it and it merges with you—then you can hate it. By hating yourself. ..Is this OK with you? [i'm cracking up now!]
On 3/22/2021 at 11:50 PM, bizaro86 said:Quotefair points and appreciate the contributions.
my understanding (from reading long ago and I can't find corroboration of this) is that BNSF is held at National Indemnity for tax efficiency purposes.
For tail risk purposes, I would prefer it be held at the Berkshire/holdco level and away from insurance liabilities (I understand we're getting into wacky / tail scenarios)
it seems it would not drastically impact NI surplus (to distributeidend out the BNSF LLC interest to Berkshire) if BNSF is counted at a discount to book.
On the flip side, this does seem to be a good reason for Berkshire to float a little BNSF and get a public mark. Overcapitalization would become even greater overnight (even if they applied a bigger haircut than to normal stocks).
anyways, this is all very tail / not relevant, so I'll shut up.
Thats something I've never thought about. Does anyone know how much of BRK net worth is in the insurance subs and how much is at the holdco?
bizaro & thepupil,
At the 2012 AGM, there was a question from Gary Ransom [#31]: "Why is BNSF owned by National Indemnity?". It's on p. 3,303 in Joel's Buffett compilation, and should be possible to find on the CNBC website.
Yup. The old man is dollar cost averaging, started buying at $7 in 1965 and is still buying at $400,000 :DThis post of by aceskc made my day! -It reads like a "last man standing" game, if one think about it really long term!
Buffett/Berkshire - general news
in Berkshire Hathaway
Posted
aws,
Please just use the NYSE website directly for BRK.A. It dosen't lie, I suppose, and I think ValueMaven does not exagerate, perhaps more to the contrary [BRK.A is also traded other places than NYSE].