yesman182

“Once again” Damn.

I didn't think I would be able to keep buying below $1600 USD today

@SafetyinNumbers have you thought much about the GFR rights offer? Seems like it’s a good way for FFH to increase their ownership via WEF, but I’m nervous it won’t work out well for minority holder. Who will be the marginal buyer once WEF owns like 60-70% of GFR?

Here is what Evan at Chubb said about their prospects: I hope the future for Chubb is as bright in reality as it is in Evan's mind.

Last quarter they were at like 2.4 years, right? What are you hoping they moved to 3 year? 4?

3-4 years ago this was called the crown jewel of oxy. I am happy for BRK to get it. Sure the sales are lumpy, but its hard to imagine a world with out PVC and other products they produce. Seems like this will be producing chemicals after oxy's wells run dry.

I know someone mentioned earlier this year that Fairfax was added to Value Line. I just noticed that Fairfax has been added to Value Line’s list of 12 stocks for “long term gains” . I don’t usually read this part of the report, so I am not sure how long it has been listed here.

I wish we had more of the story. It seems very odd for Warren to fly with Greg and Howard to some little office in Wisconsin, to buy a company that is no doubt worth a lot to the sellers, but not material for Berkshire. The ladies selling the business must have got his blood flowing. It feels to me like Warren and the sellers must have a prior relationship?

Why do you think they will write down OXY? I doubt buffet thinks that business is permanently impaired the way he thinks Kraft is. Yes the price is down, but the price will shoot back up the next time oil hits $100.

I wouldn't put it off. I read it this year for the first time and was one of the better books I have read in a while. Interesting family history and investment advice. Helped me size up FFH.

Why is now the time to buy? Everytime I have looked it’s too expensive, then 2 years later it doubles. Why is it down in the last year?

Interesting listening to him say no retailer, insurance company or manufacturer has a moat.

What about Hess? He obviously likes Chevron and also loves these arbitrage bets. The discount was over 10% a few months ago and it could close in less than 6 months.

My thesis is that the new management will be successful in the turn around and will make the company 1/3 as profitable as AZO and ORLY and the stock with double in the next few years. They made a few acquisitions a few years ago and never integrated them. They duplicate legacy systems and fell behind in every aspect of their business. They are selling good that don't really go bad and as inflation picks up, the inventory becomes worth more. Since new cars cost more, people are likely to repair what they have. It will be ugly the next few Q's, hopefully we start seeing positive sales data near the end of the year.

AAP

He seems to hint in the articles that he don't want to take GFR private because then WEF would need to find a buyer of the company in order to get the cash to return to his fund investors. As WEF did with Strathcona, if GFR remains public, WEF can return GFR shares to WEF investors. Others have speculated that GFR might be rolled into Strathcona.

Here is another article with a few more quotes in WSJ PRO. https://archive.is/5w47u As an aside does anyone know how to read WSJ PRO Private Equity for free? Can you get a library login, or is it available from any brokerage accounts?

I thought the US might fill the SPR with Russia oil if they end the war. Seems like a way to extend an olive branch, not sure how other opec nations would feel about that.

in my area the solution is more and more apartments.

Buffett is loosening the standards for his NCAA tournament pool. Hopefully he is able to give away $1M. Seems like he is still finding small things to keep his job fun. Although I don't like all the references to "while I'm still chairman", but I guess some things are inevitable. https://archive.is/SBb0i

So will Howard and Susan “control” a 5% position when they turn 80 in 9 years?

Now that is what you call ticking the bottom, if you jumped in sub 160.

Why is it down? Because of not being added to the index, or people mad because the letter didn't indicate we would grow at 30% forever?

Warren and Charlie wouldn't be able to handle the opulence of the EPIC campus and art collection! The place is ridiculous.

Why not build that northern pipeline and get more oil to tidewater ASAP. Seems like the sooner you can lower the differential the better. Not only does your tax revenue go up, but it makes investing in infrastructure more attractive. Hopefully they do both.