Parsad

If it is is "business" then why did he not buy these shares on the open market? The next time he buys a subsidiary using BRK shares as currency, he can reassure the seller that his/her heirs will be able to unload them upon death. Classy way to treat the people -- just like agreeing to never trade away the company purchased. This cultivates better transactions in the future by showing the world that any business owners willing to sell their company to Berkshire will be treated well till death do us part. Yes, I can see that perspective, as long as it was someone who sold their business to Berkshire. Do we know if that was the case here? Was it Al Uletschi's estate? Cheers!

Complete disconnect in what you are saying. Not only did he pay more by not buying in the open market, the purchase provides a huge tax windfall for someone who obviously does not need one. It wasn't business...it was charity for a long-time shareholder! The GE, GS and BAC deals were business...I have no problem with that. Cheers!

I thought the original comment about what "price to book" they would buy was silly too. Why tell everyone that you are willing to buy back stock at 110% of book? He's never blatantly given away his intrinsic value for Berkshire, so why do it now and handicap yourself to that specific buyback price? If it's a mandate for the board, so they don't even have to think about what to do with capital when he's gone, then fine...but keep it internal so quick adjustments to the threshold don't look silly like this one because they are discussed publically. All he had to do is tell shareholders at the annual meeting or in the letter that we've got a certain threshold that changes over time where we will buy back shares in Berkshire. Simple...just like he stated back in 2000. Cheers!

Most likely! And a nice public advertisement to any other large blocks of stock who now know they can lock in a 15% rate on a lifetime's worth of appreciation at 13x,000/share with a call to Omaha. I hope there are more in the next few weeks. this is a one off imo. in fact the media is going to roast buffett for doing this to help a friend avoid paying higher taxes. he doesn't want to buy back a lot of stock at these levels. this is a token amount. The optics don't look particularly good, but at the same time, if he can't find better investments than his own company, then you can't fault him. I just think the timing wasn't great. He could have bought the same 9,200 shares on the market for less...no reporting, nothing. The fact that there is tax savings for a long-time investor, after Buffett so adamantly stated that taxes for the super-rich should rise, is kind of hypocritical. Cheers!

Interview on Fool.com. Cheers! http://www.fool.com/investing/general/2012/12/11/how-investors-should-think-about-the-economy.aspx

Very funny! I think I just wet my pants. ;D Cheers!

Hi RJ, I think you are correct. Munger has a ton in BYD, thus why I'm thinking this may be it. We'll find out eventually. Cheers!

Buffett's words carved in stone. Cheers! http://www.reuters.com/article/2012/12/11/odd-sweden-buffett-idUSL5E8NB7V720121211?feedType=RSS&feedName=marketsNews&rpc=43

Buffett and Soros issue joint statement to Congress. Cheers! http://www.bloomberg.com/news/2012-12-11/buffett-joins-soros-in-effort-to-raise-taxes-on-estates.html?cmpid=yhoo

Or Japan finally blows up from its debt load, and those Japanese stocks plummet in dollar terms as the yen crumbles. Cheers!

By the way, my guess if you are talking about 10 times to 40 times return, and you know how Mohnish really digs Munger's thought process about disruptive businesses, I would be inclined to say it is BYD. But who knows, you'll have to get it out of him to know the truth! Cheers!

Well, the guess that one of Mohnish's best friend's threw out has been mentioned today. Whether it is the one, I don't know because Mohnish of course was very coy about the idea over dinner a few months ago. But some of the stuff I've heard leads me to believe that the guess may be correct. Although I'm not sure about that 10 times to 40 times return comment regarding this guess...I don't see it...but hey, I'm neither Mohnish Pabrai, nor Guy Spiers! ;D I'm a shameless clone. Cheers!

Ok, sounds like we have eliminated North America and Asia. That narrows it down to: Africa Antartica Australia Europe South America I think we can probably remove Antartica from that list :) Definitely warmer! I agree, I think you can take Antartica off the list. ;D Cheers!

Boardmember "Indirect", who is better at guessing what Mohnish is doing than anyone else on here, has an educated guess which company it is...and as I've mentioned, you guys are on the wrong continent. Cheers!

I think you guys may all be on the wrong continent! Swing again batter, batter, batter. Cheers!

Which would also include "The Economist". Cheers! http://finance.yahoo.com/news/mayor-bloomberg-weighs-buying-financial-042742356.html;_ylt=ArT1De_KJvO9Fn_KZ3t8IG6iuYdG;_ylu=X3oDMTRwYzA3dXFyBG1pdANGaW5hbmNlIEZQIFRvcCBTdG9yaWVzIG1peGVkIGxpc3QEcGtnAzAyMGNhMjc1LWFjYmEtMzRmOS04NmY4LWE0NTcyOTg2MmFmYgRwb3MDMQRzZWMDTWVkaWFCTGlzdE1peGVkTFBDQVRlbXAEdmVyA2RjYjM0MzEwLTQyODctMTFlMi05ZGVmLWQwZjc1NzhlMjE1ZQ--;_ylg=X3oDMTFpNzk0NjhtBGludGwDdXMEbGFuZwNlbi11cwRwc3RhaWQDBHBzdGNhdANob21lBHB0A3NlY3Rpb25z;_ylv=3

According to Reuters, the government is investigating SAC trades in Weight Watcher's...was Stevie Cohen getting inside information from Kirstie Alley? ;D Cheers! http://finance.yahoo.com/news/exclusive-authorities-probe-sac-capital-000004593.html;_ylt=AiIT1fPDvdFoXTvwvHVI2.GiuYdG;_ylu=X3oDMTNyZzJhNGd1BG1pdANGUCBUb3AgU3RvcnkgTGVmdARwa2cDNWQ0ZTUxZmMtMjRkNS0zNTBjLWI3YjUtNzg4ZDEyYzE0MmNhBHBvcwMyBHNlYwN0b3Bfc3RvcnkEdmVyA2U2MmNmYzIwLTQwZjEtMTFlMi1iZmY3LWI1ZGZjZWU3ZmNiNQ--;_ylg=X3oDMTFpNzk0NjhtBGludGwDdXMEbGFuZwNlbi11cwRwc3RhaWQDBHBzdGNhdANob21lBHB0A3NlY3Rpb25z;_ylv=3

November no better for Paulson. Cheers! http://finance.yahoo.com/news/paulsons-hedge-funds-suffer-another-163101441.html;_ylt=Ao0qdI_SXHFpARfqxM7fKTSiuYdG;_ylu=X3oDMTQ4MDgzNGdrBG1pdANDTkJDIFRvcCBTdG9yaWVzBHBrZwNjMWNlNDliMS02ZGU1LTMwNmYtOWVlNi03MmExMjgwYWRmYmYEcG9zAzQEc2VjA01lZGlhQkxpc3RNaXhlZExQQ0FUZW1wBHZlcgNiNGVjZTdjNi00MDhjLTExZTItOGRmNy1hOTMyYzVmYjFiZTM-;_ylg=X3oDMTFpNzk0NjhtBGludGwDdXMEbGFuZwNlbi11cwRwc3RhaWQDBHBzdGNhdANob21lBHB0A3NlY3Rpb25z;_ylv=3

These guys really should not be giving advice on how to buy stocks...yes, yes, they do make our lives a heck of a lot easier with their stupidity! Cheers! http://finance.yahoo.com/blogs/the-exchange/mcdonald-stock-analyst-goes-back-buy-rating-145058610.html;_ylt=AkgYuF2VAz1qkSE4MjbfvryiuYdG;_ylu=X3oDMTRwaXV0MzM2BG1pdANGaW5hbmNlIEZQIFRvcCBTdG9yaWVzIG1peGVkIGxpc3QEcGtnAzEyMTMzYTYzLTYyZDYtMzViNi1iOGE5LTIwYmVhYmM1MTJlOQRwb3MDNQRzZWMDTWVkaWFCTGlzdE1peGVkTFBDQVRlbXAEdmVyAzA2YjVhYmQzLTQwOGEtMTFlMi1iYTJmLTI4YjliMmJiOWI3OA--;_ylg=X3oDMTFpNzk0NjhtBGludGwDdXMEbGFuZwNlbi11cwRwc3RhaWQDBHBzdGNhdANob21lBHB0A3NlY3Rpb25z;_ylv=3

According to this Bloomberg article, Wall Street moneymen seem to be waiting to see what happens with SAC and Steve Cohen, as they are interested in buying his art collection. Cheers! http://www.bloomberg.com/news/2012-12-07/sac-s-cohen-art-watched-by-buyers-as-trading-probe-grows.html

Thanks very much for the article Bookie! Cheers!

Shutter them all...culture of corrupt behavior and a bunch of pompous asses! Cheers! http://www.bloomberg.com/news/2012-12-06/diamondback-to-close-down-as-investors-pull-520-million.html

Actually, that could happen to anyone, so I'm relieved with the amount misappropriated and that they caught it. Even Buffett was fooled by Sokol after all the great things Sokol did at Berkshire. I'm still wondering how the heck did head office, including the CFO and audit committee, not realize that the audited numbers provided from South Africa had not actually been audited before filing 2011's 10-K, as well as 1st and 2nd quarter 10-Q's. Didn't anyone at head office actually talk to the South African auditors, even in a cordial call to see how the audit process went, and ask any questions? I expect that internal control issues have already been evaluated and remediated. They are just lucky it wasn't $1M or more that was stolen. Cheers!

Prem won't quit unless something physically or mentally stops him. He loves his family, but lives for Fairfax! Like Buffett, his life's work and ego are completely tied to his company...not to mention his family's fortune. Cheers!

Stumpf says they will ask to return more money to shareholders...again, not sure what markets need to hear. Cheers! http://www.bloomberg.com/news/2012-12-04/wells-fargo-s-stumpf-affirms-plan-to-return-more-capital.html?cmpid=yhoo