wescobrk

I'm not copying the cnn article in case there are copyright issues, but the headline was he bets big with a $430 million short bet. The article also says his net worth is $25 billion. How the hell is 2% a "big" bet? Sounds like a almost zero conviction bet to me. I guess I'm getting cranky as I get older, but how the hell do these articles get written? I guess they got me to click and that is all that matters. Who cares about quality of writing now?

For those of us that might not be able to make the BRK meeting, will Peter's book be available on Amazon?

Easy to say in hindsight, but curious, how much less does the board think Buffett could have gotten the purchase if he waited till February of this year?

Who will be the first person to post notes from Munger's DJCO meeting? Thank you a million times, in advance, for the wonderful soul that posts. I hope Munger makes it at least one more year so I can attend next year.

what was twocfa's option trade for BRK he talked about? It'll probably never happen as this board has probably already forever removed the possibility. It was nice of him to share, though.

In a couple of months, I may have access to my 401k as I may start a new job. I would love to put a huge amount in BRK if it were to go below 1.2. Even in this volatile market brkb doesn't seem to go below $125. This seems like waiting for Godot. Hopefully it drops below in March or April. Anyone know the 1.2 number. Does it have to drop another 4% or so? Edit as I should have put prospective 1.2 book over the next quarter or so, as a 2 second google search I can pull up the last q number. I don't want to come off as a lazy ass. Thanks.

I finally started indexing in my 401k last year. It took me almost twenty years to not be so stupid. My cost in that fund (S&P 500) is two basis points. If I switch jobs ,I may lost access to that fund, unfortunately.

hilarious, I'll join in. .0000000111111111111% I get a date with Scarlett Johansson in 2016.

Correct, cnbc misreported it

I just mean you don't need an Investment IQ of 150 to do well in real estate. Same goes for indexing. These are smart investments for most people (say 99%). And micro-caps are dumb investments for most people. I agree about micro-caps being dumb for most people. I definitely fall into that category. It's far easier for a simpleton like me to buy a great company after a big drop. Buying a micro-cap seems extremely difficult to have 15%> CAGR long-term. At least for my feeble qualifications.

Not exactly the sharpest tool in the shed to take on Buffett of all people. What the hell was he thinking?

How do you do the math on $500 million with a company that has a market cap of roughly 800 million?

Hi Sanjeev, I will be visiting Seattle for the first time next year. I also want to come to Premier's meeting. My guess is it will be in April? Any chance you can provide the date and location very soon? I apologize if it is already in a letter or post somewhere. I didn't see it. Thanks!

Thanks, Gio, for the recommendation. I finished it rather quickly. It was a good read.

' Bernanke stole that quote from Buffett. He should have given credit (he said almost the same words regarding QE)

Hi Gio, Is this from Stiles' First Tycoon book? If so, which page?

I bought the last shares of MCF at $12.80. It's a full position now. So far my timing has been brilliant, ha.

I saw Miller speak about a year ago and he said he was the happiest he's ever been. He's extremely bright but his weakness has always been he's always bullish and aggressive. He always keeps the pedal to the floor. Obviously that will at some point almost destroy you over a long enough time frame.

When BAC was at half of tangible book, the posts on here were gold, mainly from eric. It's a tough environment with BAC above TBV and the market at 17x forward earnings. It's hard to generate alpha in this environment.

I don't like posting to the FT for copyright reasons but I 100% agree with Dimon calling out shareholders. The shareholders that turn their brain over to Glass Lewis and other firms are lazy. They should just abstain if they are too lazy to read a 10q and k.

I bought more mcf today at $13.80. Now I need to figure out how to raise some cash as I get nervous when I don't have any.

I'm certainly no expert on it but they don't have any debt or derivatives that can be called this year. Their debt should stay stable and their working capital will improve throughout the year all this is from the call a week ago roughly. Tangible book is $550 million. My average cost is $15.30. I bought around 55% tangible book. I think it's similar to what Buffett thought of Berkshire. An easy 30-35% upside. We'll see if i'm brain dead or not.

It was downloaded to my kindle at 11pm on Monday. I can't wait to read it.

I don't but I always get interested on close to a 10% drop in a single day.

I'm sure a lot of people more able than me figured this out a long time ago but it finally hit me why Moynihan gave away 8% of BAC to Buffett when he swore he didn't need capital--job security. His job is immensely more safe with Buffett in his corner, thus, it was rational for Moynihan to do the deal. Obviously, the shareholders are on the other end. Citi has ROA of .9 (I think based on last q)without any fed approval and BAC is still around .6 after buybacks and dividends in the past.