sleepydragon

The top left of the letter says “Tokyo Japan”, and the time is 8am JST. So I think it’s written by someone in Japan

Anyone know what this site is: http://berkshirehathaway340.weebly.com/

Maybe it’s written by Brk’s Japanese broker

https://berkshirehathaway.com/news/aug3020.pdf Likely because it’s his 90 years birthday?

I think someone on this board (gfp?) mentioned before that a business division has to be one party of the exchange to get the tax break.

NII has revenue per employee of something like 100k, I think? And I imagine it’s not easy for these defense companies to lay-off a lot of workers. Won’t be popular with congress members.

Or he is bearish on the economy and is selling and building up more cash for upcoming acquisition

I am reading this book too. Very interesting book. This guy is a fighter! I also started following him on Twitter

https://www.zawya.com/mena/en/economy/story/Hurricane_Isaias_may_claim_at_least_one_CEO_scalp-TR20200810nL1N2FC0HXX1/ “Hurricane Isaias may claim at least one chief executive’s scalp. Connecticut legislators want the head of James Judge, the CEO of $30 billion New England utility Eversource Energy, on a pike as blackouts linger in the Nutmeg State. “ Stock is down 2% today. I am not emotional about this stock. I just think investors are not realizing how bad the situation is for this company. ED, PEG and NGG (all of them are East coast utes) are all down today in the same 2% ballpark. Likely cause is rising treasury yields, imo. May the power be with you soon. Because all of them are being blamed for the storms. For years they have been reducing labors and saved on maintenance, and shareholders benefited. Now politicians may force them to spend more money, including adding new headcounts, to prepare for future outages.

https://www.zawya.com/mena/en/economy/story/Hurricane_Isaias_may_claim_at_least_one_CEO_scalp-TR20200810nL1N2FC0HXX1/ “Hurricane Isaias may claim at least one chief executive’s scalp. Connecticut legislators want the head of James Judge, the CEO of $30 billion New England utility Eversource Energy, on a pike as blackouts linger in the Nutmeg State. “ Stock is down 2% today. I am not emotional about this stock. I just think investors are not realizing how bad the situation is for this company.

I might be wrong but I think for corporations your long term capital loss can’t be used against income and can only be carried forward for 3-5 years. So if WEB did sold WFC he would need to sell some other stocks with enough profits to harvest the tax loss?

I am tempted to short Eversource. My town and neighboring towns has lost powers for a week now and people are so pissed with them. The regulator is also pissed. https://www.nbcconnecticut.com/news/local/top-state-leader-calls-for-resignation-of-eversource-ceo/2316001/

Look at Apple, Google, Microsoft, Standard Oil (parent of Exxon Mobile).. All had much higher stock price after founder no longer running the company.

May not be a bad idea for Buffett to keep the shares at this price though. Berkshire shareholders can own a big part of the Permian Basin which could be the future Saudi. I just finished reading “ Saudi America: The Truth About Fracking and How It's Changing the World”, which was recommended from the Annual meeting. Interesting Buffett read this book and still invested in OXY.

Bridgewater is the only place in the world where you can still experience what the Chinese Culture Resolution is like. Lol Ray Dalio is likely a true believer of communism. He is a very good person, but I suspect Bridgewater will not last without him as leader. Now China and Russian are withdrawing money from Bridgewater (maybe this is rumor), which is not helping.

I think Apple was moved to S&P500 Value index last year (or could be the year before). So Apple had been a “value” stock for a while

I had a friend who had a call spread on a stock he had a lot of convictions and had done a lot of research. He bet heavily, pretty much 100% of his stock portfolio. He rolls the options and hold on the spread for two years or so, eventually lost 100%. The stock went up a few times in recent years (after his calls expired).

I think you may be missing the big picture, and that is picking the stock that will go up 500%. You don’t have to use leverage or try to save on taxes if you can pick stocks with high hit rate. Why the sarcasm? It's uncalled for. I think you well understand my concern about some sort of tail event short squeeze or technical glitch that would cause problems for a naked call. Sorry, I didn’t mean to. Apologizes. I had struggles with similar issues before. Later, i just found it’s harder to buy the correct stock and if I am wrong I want to be able to unwind quickly. Not using leverage also help me not over think a stock too much.

I think you may be missing the big picture, and that is picking the stock that will go up 500%. You don’t have to use leverage or try to save on taxes if you can pick stocks with high hit rate.

But why play all these mindgames with the market when instead they can just simply announce and execute a massive buyback? At other companies, the purpose of buybacks is to benefit selling shareholders. At Berkshire, the purpose of the buyback is to benefit remaining shareholders.

BRK twice per week during the last four weeks. Today added to WFC (it’s now 10% lower than the CEO’s $5m purchase) Also bought back MTB, SLG

I think BRK did this from Graham

Valueinvestor, would you mind to say what is the 3 stocks in your portfolio?

Thanks! I will check it out