ValueMaven

BABA this AM ...

ATH on Apple this morning. This is turning into the greatest trade ever. Up $110B+ ... plus dividends ... I wonder how Berkshire is going to handle this high-class problem.

He is speculating ... that is all

Great recap: simple, direct, and to the point. Some of his assumptions are conservative in my view. Even still Greg is one of the better analysts on Berkshire.

awesome. thank you!!

Doesnt work

Behind a pay-wall ?!

C'om.... being early = wrong Short bets ARE investing ... just in a different direction ... Didnt they have a sizable position in GE in 2014/2015 too??

Thanks for the heads-up! Very interesting

Home Services is missing from BHE!! What gives!!

Who made this?? This is awesome - I'm going to frame it!!

This guy is a great AAPL analyst ... it is now 50% of Berkshires equity portfolio. Warren even said trimming AAPL by that $10B amount was a mistake. This is now a massive homerun for Berkshire...

https://www.houstonchronicle.com/business/energy/article/Oxy-expects-higher-asset-sales-to-pay-down-debt-16364919.php

Great recap. Thanks for sharing! I'm starting to think: 6% organic growth + 5% share buyback + cash optionality = 10% - 13% over the long-term - I dont think that is unrealistic, and I dont think the shares are currently pricing in this high-level assumption

Clayton Homes is on total fire right now ...

Anyone else surprised by how strong MSR has been? Hard to really know what is going on there... Also BNSF reported its largest quarterly profit since Berkshire acquired it.

Just starting to go through this - high level - very solid quarter ... not amazing, but extremely solid across the board. Buyback has averaged $6B in Q and is at a FY run-rate at $25B+ ... we are looking at $50B over the trailing 24M if this occurs ... remarkable. The stability of the underlying businesses remains ... resilient but also some cyclical exposure as well. Insurance still continues to post profits but reinsurance had a loss (??) Bought back the largest amount in 2Q at over 8.5M B-shares at basically $280 --- just were the stock is now ($2.5B) - which is a positive sign. Maybe the goal is to return all excess capital that the business generates to shareholders this way?? Keep the large $140B of cash - but use operating income less CAPEX and return it to shareholders. I'm all for that. This is always my favorite 10Q to go through - I always learn a lot!

Thought I'd start a thread for 2Q 2021 earnings which comes out tomorrow at 8am EST

Liberty Media's ownership of Sirius now stands at 78.1% as of July 23rd. Management bought back 3.2M shares of LSXMA/K during the quarter at an average price of $44.27. This is a really interesting mixture of SIRI aggressively buyback back stock and the tracker buying back its own stock at a ~30% NAV discount. Next few quarters should be interesting.

Agreed. Very nice Q here. I've been out of FFH for YEARS given all of the macro nonsense. I may need to start a position again.

This is pure gold. Thank you!!

Thank you for posting. This was a great acquisition by Berkshire. Hopefully more to come.

Isnt the catalyst here that once Liberty owns 80% of SIRI - it can take SIRI's cash-flow (tax free) and use it to aggressively buyback the tracker at a massive discount?? Also - it is possible that Liberty simply merges both the tracker and SIRI together in early 2022.

Very solid beat across the board by SIRI. Ahead of expectations of paid sub growth. FCF higher then expected, and buybacks slightly lower then expected. This is still a 4Q21/1Q22 story for LSXMK. Liberty will likely cross 80% ownership sometime in late 3Q/early 4Q at this rate. NAV discount is around ~38%