ValueMaven

really dump question - but why didnt Warren buy aggressively when prices where in the $10 - $15 range and the company was in serious trouble?? Have things changed THAT much vs. the price apperication to buy aggressively in the mid-$50s. Which is a better risk-reward, OXY at $14 when oil was $40, or OXY at $55 when oil is $110????

Is this a good level to get into DJCO given the BABA blow-up??

Thanks Bill!! @wabuffo

https://tipswatch.com/2022/03/10/u-s-inflation-soared-0-8-in-february-hitting-annual-rate-of-7-9-highest-in-41-years/ For I Bonds. The February report is the fifth of a six-month string that will determine the I Bond’s new inflation-adjusted variable rate, which will be reset on May 1 for all I Bonds. So far, inflation from September 2021 to February 2022 has been running at 3.43%, which translates to a variable rate of 6.86%. One month remains, and March inflation is likely to be quite high. It’s easy to see the possibility of a variable rate approaching or exceeding 8% at the May reset, higher than the current rate of 7.12%.

You are at 5% already with 2 more reports left. Gas prices are up huge m/m so that is going to add to the next inflation print for sure ...Figure 6-7% at a minimum ... https://tipswatch.com/tracking-inflation-and-i-bonds/

I was unaware and didnt see her this AM

Prem's letter was great!!!!!!

I wouldnt touch IEP with a 10-foot pole ...

Wow. Right near the $60 strike Berkshire has...plus another 8 years to go. At one point 18 months ago these warrents were 90% OTM I see the preferred is now carried at $10.7B. 8% coupon plus the warrents struck at $60 per share. OXY up about 17% right now on huge volume. This is turning into a classic Warren investment & looks to be a very solid energy related deal for Berkshire!

wow - the OXY 8% preferred plus 10yr warrents @ $60 is turning into one hell of a deal for Berkshire!

Thank you @gfp !!

That is a great point actually. I highly doubt they sold out given Ted's conviction in the stock - he also personally owns 2M shares. I've also wondered why DaVita isnt accounted for using the Equity Method given that Berkshire now owns close to 40% of the shares outstanding

1.4x BV on a BV that is CLEARLY massively understated ... hmmm ... also how about a biz that is generating a durable $25B+ in Operating Earnings. @RiskAdjReturn Try again...

Call it 1.4x B.V. give or take a touch ... seems fairly reasonable

Neither one has worked at Berkshire for 14 years - so not sure what you are referencing here...

Todd and Ted are mentioned as managing about $32B in total

wow Greg Abel has his own letter starting at A3 in the 10K

Yes - buybacks have slowed materially. Warren suggested as much in the letter. OXY preferred was written up and is now carried north of $700M profit. Im still working my way through...interesting story on TTI and BNSF...I didnt know that!

'BH Energy worth perhaps $90B and $140B EV'

This made my day. Thanks!

Let's get this started. 1 week away. Hoping for another quarter with a decent amount of share buyback. I would expect comments on the state of the economy, inflation, and the strength of the operating businesses. Really interested in seeing managements buyback activity/price levels. I actually like to look at the 10K first and then read the letter.

Likewise! Should be any day now really. Looking forward to the Berkshire update he generally provides

I wonder if BHE has been selling BYD - given DJCO has been selling it ... the realized gain in BYD for BHE has been massive

May-22 reset rate is looking to be well north of 5%. Right now you are at 4.98% with TWO months left. Looks to be in the 6%+ range or higher.

How about Fairfax vs. Markel?