sleepydragon

I bought load of UNP and some SRG

FAST

Brkb, jpm

EDU and BRK

BYD - Wang Chuan Fu

So they were at strong buy at $10.82 but a strong sell at $9.71? http://www.zacks.com/stock/news/159098/blackberry-limited-bbry-an-offtheradar-potential-winner

In 2008, I listened to a wall street trader friend of mine, and didn't buy AXP at $14. The rest was history... Somehow AXP is misunderstood by many investors, including myself. Visa/Master are actually technology companies, and AXP is a financial company. And thus the PE differences - maybe? AXP has been losing card members to Visa and Master because there's a trend that stores issue their own Visa/Master cards and give customers more rewards directly. AXP boost about their customers service etc.. but I found their customer service is not really that good (two cases for me when I couldn't get refunds for purchases) But maybe AXP makes money from people different than me. I know someone whose wife get her American Express bills in a form of thick book, and there are chapters in it, every month! And of course, they use the $400 fee/year card. I bought a lot of AXP recently. I think it's just getting too cheap, especially after the headlines of losing the Cosco deal. Hopefully this is an catalyst for management to do more. I also noted the Buffett defended AXP on CNBC. He said Berkshire had already hit the limit of the percentage of AXP they are allowed to own. I found that's interesting: maybe Buffett might have added if they could.

AXP is a much better buy now at current price

Like many other hedge fund managers, I bet Loeb also set up his compensation so he is paid through some sort of ownership of His fund. People like him and Ray Dalio pay less tax percentage wise than low and middle class american.

Warren Buffett shows up at Coke's annual shareowners meeting http://www.coca-colacompany.com/stories/warren-buffett-if-youre-looking-for-a-wonderful-business-its-hard-to-beat-coca-cola

Why HOG? It seems a dying business. Younger people dont buy HOG and current fans are retiring.

They'll keep going after him as long as Jamie Dimon acts like Jamie Dimon imo... I have checking, savings, investments accounts with Bank of America, for the last 20 years. I put all my money there. But during the last week, I opened a checking, savings and a credit card at JPM Chase. I got a total of $450 signing bonus for the checking and savings accounts, and 45000 bonus (=$450) from the credit card. That's a total of $900 for just doing a little bit of work. JPM is using some very brutal methods to get clients from Bank of America and American Express. Their top credit card executive was hired away from American Express, who designed the new Saphire card. I liked their Saphire card. it's made of a piece of metal. Pretty heavy. Looks like a AXP blackcard, but only $95 fee (first year waived). When you no longer want it, you have to mail it back to them (and supposedly they will melt it in fire like in what they do in lords of rings). I think it's working. It's costly, but a lot of people who are not willing to move checking accounts can no longer resist. These people are pretty sticky (or lazy) like me. The only thing I think JPM is missing is an investment/retail brokerage. WFC and BAC both offers it. BAC give me 100 free trades/month. WFC charge about $7/trade.

+1 Thank you Mr. Bird. Awesome. :) What? It's free?! I can't believe it. Does this violate any anti-dumping law. Why are you doing this?! J/k :)

"Dammed" fool?! (Pg. 37) Editorial standards, they are a slippin' at Berkshire. Best, Ragu Perhaps not! The context is the extraordinary delegation to the subs. The sentences just preceding..."we don't have depts ...hr, pr, ir, mna...but we do of course have an active audit function..no sense being a dammed fool" reads to me as the foolhardiness of being totally insular or iow "wall omaha in" "damned fool": someone very foolish "dammed fool": a barrier to obstruct the flow of water?

He did sell (somewhat). He used his inflated HNZ equity to buy reasonably priced KRFT equity. Maybe? I don't think he looks at it like he sold Heinz at all. I think he figured adding $10 billion in equity plus Heinz to merge with Kraft was a value creating opportunity relative to Heinz stand-alone because 1) it permits 3G to cut $1.5 billion from Kraft costs, 2) allows Heinz to refinance its debt to investment grade, and 3) provides more product for Heinz's global distribution system to push through. I will add if he wanted to sell, he won't use the cash dividends. he would have used all stocks. he/3G essentially paid for all the premium without diluting his current Heinz stock.

Looks like it's indeed 10b profit! (81 - 16.5) * 588 / 0.49 * 1/4 = 19bn And he has prefered stock in hein as well, right?

The stock is at 81 now. But the new company will have different shares outstanding. So we can only say 81 is only an indication of what the new company will trade at?

Yes :) sorry about the mistake

you forgot to count BUffett has about 200m shares of kraft currently before the deal. He also get dividends on those

does anyone find it's a little odd that Munger would ask a question to Buffett? Aren't they suppose to talk everyday? And what his question really means (does Mr. Buffett has any regret of teaching people about investment)? It's kinda of odd

I am trying to decide if i shall add to my WFC or buy some JPM. JPM seems cheap. I know someone who work at JPM investment banking side whom i considered a high iq low iq idiot. His favoriate activity is to buy the most expensive things and then visit the neighbors. Compesation at JPM investment banking side seems very excessive.

yestoday wsj talked about it. It's about jpm start charging fees for some deposit. Rate raise is not coming, nim getting worse, but legal expense keep rising.

I love this article - if it can maybe bring down the stock by say, 10-15% ? I can buy a load :) And btw, the picture above is BusinessWeek (not newsweek), which is now a magazine bought by bloomberg? This sort of remind me when a Goldman Sachs story was on Rock & Roll magazine.

They amended Q3 13F to show sizeable increase in Deere. They didn't ever sell Deere, just switched it to confidential disclosure, best as I can tell. Could be WEB is selling out XOM and preparing an elephant bid? Could that be Deere?

I remembered Buffet said in an interview something like: "The best business is still those that need little capital but generate a lot of cash". XOM is capx intensive. Or maybe he's selling to get more cash for an Elephant deal. He had said before that he will first sell his smaller holdings when he need cash to get deal down.