Jump to content

dual_bid

Member
  • Posts

    85
  • Joined

  • Last visited

dual_bid's Achievements

Newbie

Newbie (1/14)

0

Reputation

  1. Max, where exactly will you sell the poster at the meeting?
  2. With WeB's new idea ("credentialed bear") coming into the lights on the biggest capitalist show on earth and Munger's publicly showing his attitude towards Carl Icahn on DJCA meeting ("I'm not sure we want everything in America taken over by Carl Icahn. Would that be a great outcome for the country? I don't think so."), one might say the Elders implicitly favor Ackman's side on the HLF west side story?
  3. Would any of you ascribe any importance to the word "rapidly"? The word "rapidly" also caught my eye when I read it the first time. I really thought it was both in poor choice and poor taste for Sokol to say that. That being said, Buffett is now in his early 80's and none of us are going to live forever...except Ericopoly, because he can now afford his own cryogenic freezer and monitoring system for the next 50 years! ;D Cheers! Terrible taste indeed... saying it to a cancer patient. However this is a written response and this guy probably had time to think over his words. Did he also try to indicate something else with this dirty punch below WeB's belt?
  4. Would any of you ascribe any importance to the word "rapidly"?
  5. With such clear conviction, why in your opinion didn't WeB invest directly in the equity? does the preferred route not suggest it's not that clear to him? When Buffett invested the $5B, BAC was in a much more precarious position. Did he not recently say he wishes now that he had invested more? Buffett invests with Leucadia in things such as Berkadia, but he never invests directly in Leucadia...does that say something about how he feels about Leucadia equity, or is there just some things that Buffett chooses to invest in one way, and perhaps not another. Don't spend all your time wondering why Buffett did or not do something. Like everyone, including you or myself, there are things he will miss and many things he will get right. Investing is as much an art and based on your comfort level, as anything else...Buffett had much more comfort in preferreds rather than equity at the time. I would not be the slightest bit surprised if he buys equity at some point, and let's not forget we still don't know what Munger bought for DJCO...alot of people think it was BAC common...but would that matter?! Not one iota to me. Cheers! One can of course disregard buffet's doings, at his peril. However, his past preferreds investments were based, as you say on - not enough comfort. I do not understand banking well, too many moving parts to my taste, so I ask... why the discomfort? (and re LUK, yes, I think it says something about how he feels about Leucadia equity). I honestly think Buffett invested in the preferreds because it was a better deal than the equity. He gets 6% annually, while having the option to convert to shares at $7. Little risk on the downside and plenty of upside. I think if he didn't get the preferreds, he may have just bought equity...but the preferreds were a better deal. And I disagree about Leucadia. I suspect he didn't invest directly in Leucadia because of the fact there was no succession plan for a very long-time...Buffett had no interest in stepping in and running a company. What they do is very unique, and if they didn't already have the right person in place, he wasn't going to be able to try and find the right person if both Cummings and Steinberg dropped dead...whether he owned a minority share or majority share. In general, I think you could come with various questions about why Buffett didn't invest in one thing or another, and never actually know the real reason why he did or didn't. He's invested in White Mountains, but why has he never invested in Fairfax or Markel? You could presume a dozen scenarios on his motivation, and none of them may be right. Cheers! I really do not have a bias in the equity game (again, too complex to my taste), but WeB probably preferred the preferreds over the commons, because he'd locked up $5B for 5 years, and needed the interest and the kicker. All in all in does show great confidence in BofA.
  6. With such clear conviction, why in your opinion didn't WeB invest directly in the equity? does the preferred route not suggest it's not that clear to him? When Buffett invested the $5B, BAC was in a much more precarious position. Did he not recently say he wishes now that he had invested more? Buffett invests with Leucadia in things such as Berkadia, but he never invests directly in Leucadia...does that say something about how he feels about Leucadia equity, or is there just some things that Buffett chooses to invest in one way, and perhaps not another. Don't spend all your time wondering why Buffett did or not do something. Like everyone, including you or myself, there are things he will miss and many things he will get right. Investing is as much an art and based on your comfort level, as anything else...Buffett had much more comfort in preferreds rather than equity at the time. I would not be the slightest bit surprised if he buys equity at some point, and let's not forget we still don't know what Munger bought for DJCO...alot of people think it was BAC common...but would that matter?! Not one iota to me. Cheers! One can of course disregard buffet's doings, at his peril. However, his past preferreds investments were based, as you say on - not enough comfort. I do not understand banking well, too many moving parts to my taste, so I ask... why the discomfort? (and re LUK, yes, I think it says something about how he feels about Leucadia equity).
  7. With such clear conviction, why in your opinion didn't WeB invest directly in the equity? does the preferred route not suggest it's not that clear to him?
  8. A ~$25-30M operation, implemented over a fairly short period... it might be a 'one man show' of sort. Not necessarily leading to a squeeze, if this 'man' has some capital and breath... http://www.schaeffersresearch.com/chartfx62/temp/CFT0606_11254537B28.png
  9. Ecolab, a truely entrenched enterprise, is on Gates/Larson's portfolio, to which he added lately. Nalco, a recent merger transaction for Ecolab (http://investor.ecolab.com/releasedetail.cfm?ReleaseID=592813), was on Berkshire's list. Larson, early on (circa 04-05), also originated the trains' idea.
  10. Bloomberg’s weird Buffett spoiler http://blogs.reuters.com/felix-salmon/2012/03/23/bloombergs-weird-buffett-spoiler/
  11. "We do not currently directly generate any meaningful revenue from the use of {our} mobile products, and our ability to do so successfully is unproven. Accordingly, if users continue to increasingly access {our} mobile products as a substitute for access through personal computers, and if we are unable to successfully implement monetization strategies for our mobile users, our revenue and financial results may be negatively affected." Some might think this risk factor is from MSFT's K. It's not :-)
  12. he is no longer buying below intrinsic value? (I think it was something that Tilson quoted from some Students meeting with WeB, but can't remember). Thanks in advance.
  13. this idea was pitched by DM to HF (and made public - http://www.bloomberg.com/news/2010-11-02/hong-kong-should-end-exchange-rate-peg-to-u-s-dollar-deutsche-bank-says.html)
  14. There's an excelent book on the history of Toyota Motor Corp. called Against All Odds. Think it will help you understand. It doesn't help to generally know the story of Toyota. One needs to know its detailed history. So many times it looked hopeless...
×
×
  • Create New...