Gregmal

Thats certainly plausible, but is also a significant deviation from his attitude in early May. In May, he wasn't even certain the cash hoard would be sufficient. The stock was cheaper, by his own admission, at 225 in February. I'd suggest rewatching the AGM. There were folks here and other places, who were debating selling their stock because of how downbeat he sounded. Going from that to then potentially repurchasing the same amount of stock they did in all of 2019, inside of what was a 4-6 week window....definitely something changed. Put another way, if the stock was cheaper in February(when they bought 1.75B for the ENTIRE quarter), and the cash on hand wasn't enough under some scenarios, no way this guy is pouring money into buybacks at a record pace.

Typically a non 105b would dictate you must wait 3 days after an earnings announcement as a start. Then you also have to consider 2 weeks before the Q ends, up until you announce. Obviously there are ways around this, but if you want to see what the most aggressive scenario here could be, it is that. BRK did all of their repurchases between May 6, and June 16th....

Well, when we excuse protests because "theyre protesting", this is the other side... https://www.yahoo.com/entertainment/donald-trump-claims-members-golf-005822741.html These people are hardly protesters, but theyre also not using BLM as an excuse to have this decades Woodstock moment...nevertheless, you make excuses for when/where the rules should be followed, you get blatant cases like this, where people just say "fuck you, I get to do it to"...

It is indeed very thought provoking. Theres a few things to look at and wonder. -Buffett said, in a not so veiled way that BRK was effectively "more cheap" at 225 in Feb than it was at 175 or so in early May at the time of the AGM. -Buybacks had stopped -His tone at the meeting was death -He sold airlines and WFC -BUT! Bought back a record number(in absolute terms, and in terms of pace) shortly thereafter -Has been adding aggressively to BAC If we eliminate the idea that he was laying it on thick, and trying to scare people into selling their stock...all Im left with is that he basically came to a radically different conclusion than he had previously, (big thing for some here)---->Admitted he missed the big opportunity in March/April, but also, seems to believe there is very different potential outcomes, even within similar sectors...IE WFC is so rotten its not even worth holding but BAC is still steaming cheap....And that, BRK is in pretty damn good shape....There's more too, but all in all there is a lot to process here but it does seem compelling in terms of garnering insight into how the man is thinking.

So I am sure WEB wasn't lying, or doing his best Billy Boi Ackman impression, but given the figures....he'd have to have started buying back a more reasonable chunk of stock....right around the time of the AGM. Which, given what his tone was...is surprising.

NJ has 1793 deaths/million NY has 1687 deaths/million Texas has 280 deaths/million Florida has 361 deaths/million Are you saying NY & NJ listened to Trump and Texas & Florida did not listen to Trump? IF you go by deaths per million, the top 10 states are New Jersey, New York, Massachussetts, Connecticut, Rhode Island, Louisiana, District of Columbia, Michigan, Illinois, Missisippi. https://www.worldometers.info/coronavirus/country/us/ Exactly. There's certain areas where politics plays a bigger part than others, and theres many where its just a convenient narrative. Any idea why, say, NYC, despite a rather negligible number of new daily COVID cases(for months now) has seen such muted recovery and virtually no uptick in many areas? Yet, say Georgia and Florida, despite basically experiencing similar daily case # as NY/NJ did during their peaks...continue to hold up better?

Would 15% inflation not more or less guarantee a massive socialist policy change? Deflation/crashes they print money. Runaway inflation they'd have no choice but to take control of resources and "fairly" distribute/regulate them. Regardless of "the stock market" I see that scenario as what could ultimately cause America to implode.

Truly a gem this clown is! Makes me LOL every time! Always posts about me wherever I go and can’t help but follow me even when I am not having a conversation with the clown or posting about a stock he is invested in. I get to live rent free in his head (not like the real estate is in high demand anyway!). As they say: “Have enemies; but make sure that they think about you much, much more than you think about them.” BAHAHAHAH Oh...thank god! Whew. I was worried you wouldn't respond. Or worse, feared that you had "left for good"....

Oh man. This continues to get better. He's taking his ball and going home because all the quality posters have left and it s a waste of his time. Then he comes back. He doesnt respond to certain types of people, but then responds every time. Its been a true pleasure watching the shape shifter and "Houdini of Accountability" in action. In April, emboldened by predictions that coronavirus cases and death figures would go up! remarks "I hope you and your kind are invested in the market"! Now? humbly he/she/they "admit that I myself do not know how to time bubbles or short term market movements". Has the market humbled this squirmy fellow? Or does the narrative just continue to shift, one by one, falling like dominos...

sold some EDIT

Probably the fact that there is significantly more clarity now and in some stocks, such as banks, only a marginal price improvement. The $17 low wasn't really an actionable price as it was more or less intra-day(s). Basically a low $20s number on BAC could be called the lows. So he's been a buyer at basically the same prices give or take 5-10%.

Why buy any bank? Just buy BRK.

There is "ridiculously overvalued" and then there is "Im kinda uncomfortable about the valuation". The later is where I think Apple falls. Unless you are predicting a giant macro pullback, I dont see how AAPL doesnt at least hold its own. Further, if you sell, I hardly want to think of what it will take to become bullish enough to redeploy that capital, especially given what we saw from Buffett in March/April. Would probably be waiting an eternity. In which case, just stay the course.

4:40 mark is pure awesomeness! Yea, those are 100+ lb fish.

Looks interesting. If interested, check out the earnings release/info today. Pretty solid stuff. Board authorized a $75M repurchase program(vs ~$500M market cap). This is a great business with the risks being mismanagement and stupid acquisitions, but it seems thats been slowed down a bit over the past couple years. I'll try to start a thread on it soon.

Quote Graham, buy RobinHood. Go get em champ! EDIT: Oh yea I forgot! I dont respond to certain people but I respond EVERY TIME! LOL Speaking of Jokers...

LOL captain go to cash during the crash and sit on it through the entire rally now back at with it with his "if you look at it like this! I was still right" rhetoric. When you spend your time looking at all the wrong things its easy to be blindsided. Its telling that even now he/she/they chooses to attack even Muscleman, who's been amongst the most balanced contributors the entire time. Amazing what gets triggered when the info conflicts with the agenda!

I've found drinking a lot of coffee in the AM, and seltzer/water in afternoon helps reduce appetite and keeps me focused/fuller. I believe Jack Dorsey has endorsed and adheres to a similar approach as you described above as well, when it comes to fasting/eating 1x a day.

@BG, once COVID is done and we're out of Hurricane season. February is my target as King Mackerel fishing on the Gulf really heats up. Its only a 3/2 but there'd probably only be a half dozen folks here anyway as most are turned off by my frivolous engagement with the politics. Win/win for the thick skin! @Spek This depends on what your own perception on "risk" is. I have HO6 and wind coverage, run a little over a $1000 a year. But the main thing, and benefit is, that most of the typical stuff you'd think of is covered by the HOA policy. I mean you really dont even need wind coverage as when you leave you throw up the storm shutters and you're good. But most carriers in the area won't sell you a policy without wind coverage. All in, condo carry cost is about $14k a year. Includes HOA, insurance, taxes etc. In NJ just my property taxes are $14.5k and the home is in a similar value range. Two side notes. If you like the Keys or just want to explore, Cheeca Lodge is the shit. Used to be so much better a decade or two ago. Got really touristy/catered to the business travel, wealthy finance dude with a flair for European style after that. But still great and a gorgeous resort. MM 82. Yes, be forwarded, there's pictures of Clinton, Bush Sr, Ted Williams, etc catching massive Tarpon and playing golf there all over the walls in the entrance to the lobby. Stay away from Worldwide Sportman as there's a pic of Don Jr(among many others) out of a flats boat with a massive tarpon. Otherwise Worldwide is basically an aquarium that sells fishing/outdoor stuff with an awesome life-size replica of Hemmingway's Pilar in the center of the store and a sick second level bar/lounge that is great to watch the sunset from. Also cool is the Tarpon frenzy at the docks when boats come back around 3pm. Second side note. As the current hurricane rips through NJ/NY, its crazy thinking about how homes here get damaged(often badly) with 30-50 mph winds, while the ones in Florida can withstand 4x that no problem.

That would certainly explain the NY/NJ area death rates. And also explain why so many with obvious biases fell for it and assumed the rest of the country would follow. And also why the narrative has shifted from "see I was RIGHT, absolute number of cases and deaths rose!", when a month or two ago it was "FL and those states will be worse than NY"....

Most of the homes, especially in the Keys are built to avoid that. For instance where I'm at is roughly 8 ft above see level. And the units are an additional 10-12 ft elevated. Most of the complexes and homes look like the one in this link: https://blog.iese.edu/doing-business/2016/08/22/climate-change-and-the-florida-keys/ End of the day, if you are hugely concerned about global warming and not bullish on dredging/seawall type engineering solutions, its probably not the place to buy property. If you arent, there is hardly anywhere like it IMO, especially of you like fishing, scuba, island life, etc.

I think a general rule of thumb is to never mix business and friends/family. That is largely true, but RE is pretty darn simple and easy and also passive. Doing a hands on operation is fertile grounds for failure of the personal relationship though. Ive hired a couple "friends" before and you often run into an issue with entitlement and envy. Better to avoid. But going in on a property where the only major decisions are "dont overpay" and "how will it be managed", is pretty easy.

You seem to have limited knowledge of families... ::) Worst idea ever for non-trivial percentage of people. :-X +1, no +100000000000 That is just about the worst idea I've read here in a long time. Eh, it depends, IMO. I am the oldest of 5 siblings. I have had great situations with several, where rather than paying $1000 a month for shitty student housing, they scout the area, I supply the downpayment, they pay the mortgage, and then after 4 years or whatever, the property either gets rented or sold. The beauty being, many of these are great growth/rental areas, IE Gainesville, Philly, Orlando, Long Island, etc(this is obviously personally relevant but not the same for everyone). The kicker is you have(had) depending on the government programs available, the ability to get on the title via a first time home buyer program, at 3%. So Gainesville for instance, 2012, $15k down(including closing costs) gets a you in the door on a $150k home that is infinitely nicer than the comparable student housing unit. 4-6 years later, with no outlay other than the downpayment(remember the other part of the deal is the family member living there takes care of it), you've got a $250k place with the option to rent at $1500 or cash out and divvy up the gains. The downside is always there, but IMO limited when school controlled housing is "$x" and right next door is "your unit".

1) I've long maintained that Buffetts exit, and thus the step up of the successors, is the catalyst. To some, Buffett's departure is a negative. To me, its hard to say the greatest investor ever, leaving is a positive, but I think it is. This is not to be confused with saying that Warren is "bad" for BRK. But I think new blood sets this thing free. 2) As a shareholder, I'd prefer they pare down some AAPL at 21 vs 28%...but its not really material to me. They dont need more cash, so stay invested.

LOL yea, was looking at a Jersey Shore property last year. Memorial Day through Labor Day you're ripping $4-7k a week. Rest of year? $2500 a month.