ValueMaven

ETP-PD and ETP-PC are two MLP preferreds which are getting serious whacked right now. These are $25 pars - trading in the low-$12 range. What are the pros and cons of MLP Preferreds? Do they issue K1s? ETP's equity is down about 20% right now - but does have a $25B market cap and is lead by Kelcy Warren - who is well known in the MLP space. These might be interesting 'defensive' preferred securities trading 50% of par ValueMaven

Was able to pick up some Berk at $180.40 on Thursday ... I think I got lucky

Trading at x0.78 of BV? What am I missing?

Thx!!! No brainer for the LT investor below $200

What is Book Value for the B-shares ???

It posted .... alll 128 pages - of which Berk is about HALF the letter. Best analysis out there on Berkshire ... his valuation targets are extremely interesting

Extremely poor analysis. I read it again (waste of my time) ... nothing was mentioned on the quality of management, the diversification of businesses, or frankly WEB's homerun in apple recently. I get it - there is a limited amount of space to write...however this was a poor article. Omitted large portions of BRK's overall valuation as well ... the funniest was on the margin side -- ie: GEICO's margins stick vs PGR -- not mentioning the huge market share growth b/c of advertising etc. 'We like to think that Barron’s provides the best coverage of Berkshire anywhere.' --- LOL

really horrible write-up on Berkshire in Barrons this weekend as a cover story. Basically calling for a breakup and a dividend...one of the worst piece I've seen on Buffett and Berkshire for sometime. What did others thing who read it?

I'm giving all 4,500 pages a shot in 2020 ... need to figure out how not to read all of this on the silly screen. Excited + Scared.

AAPL and Cash = nearly 40% of Berk at this point ... insane!

Isnt AYR trading above the $32 per share takeout offer? what am I missing here?

Say what you want about WEB - but he nailed Apple. One of his best investments!

You can only pick one name. Brief bullet point as to why. This will be interesting: Texas Pacific Land Trust (TPL): Stable oil prices in the mid-60s is ideal, factored with a conversion from a Trust structure to a C-Corp will improve investor ownership, and awareness of this unique security. Possibly 1 for 10 split as well to improve liquidity for this self-liquidating Trust. Large cash balance will be payed out sometime in 1Q either through a large dividend, or a tenor offer (co has $350M in cash and zero debt currently). Nearly impossible to value through traditional metrics. 80% margins historically

Stay long -- many catalysts for both commons and preferred holdings in 1Q 2020.

Buffett Watch: search for Fannie Mae - a lot of interesting comments from Mr. Buffett throughout the years! https://buffett.cnbc.com/

I've what Sweeney wrote to be more meaningful for shareholders of FNMA then en banc ... personal opinion I know - but all of this really gives us holders of either prefs or common another angel. Basically speeds up settlement if you ask me.

Thank You!

well, actually, discovery has been performed... Ok then - how big of a deal then was Friday nights news? Seems to me FHFA and Treasury are playing with a ticking time-bomb

Im finally starting to realize that - WOW - this was a big deal. Blew up in the govt face. I just wonder what the govt can block in discovery??? -VM

Anyone actually get through all 4,500 pages?? It's on my 2020 list of things to do ...

Thank you WEB for NOT trying to outbid a silly, second-tier (subjective I know) PE shop. As your loyal investors - we know what principals you stand on and for.

Out of the Malone empire - what is your favorite Liberty compounder? Trackers? Spinoffs?

TPL - self liquidating land trust

talk about dead money!!! wow Pref's are getting killed!!! Politics are impossible to handicap!! FNMAS down -7% over the last 6M's while SPX up 10%

I just finished it -- it is extremely well written - with many practical application...guy is extremely interesting!!