calonego
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Posts posted by calonego
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I second the controlled distribution of chewing gum...
I'd like to suggest Wrigley's if anyone is inclined.
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He had a house there he bought in the '60s I believe, then he bought an adjacent house for guests.
I believe he mentioned selling the adjacent home at an AGM 3-5yrs ago (he quickly figured out the replacement cost of the home, backed it out of the sale price and figured out the price paid per acre of land, which was rather irrational).
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Carvel - I've spoken to Stilwell a few times, have spoken to his guys as well (mainly prior to them getting onto the board, etc).
Everything that he said he would like to do here (or did at ACAP) is starting to happen. He also has many routes to go to finalize the control.
What I do know, from following the company for 8 or 9 yrs, is that they would never have done a few of the things announced yesterday (former management, present management, the board). So clearly someone forced their hand. He only has 2 seats, there are ways he encouraged his view (logic or pressure). It's likely similar to how Sardar brought people around to his thinking at SNS, or they left.
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Other parts of the book have inaccuracies or allude to things that are not true, beyond what the media has talked about (the part about Schroeder maybe detailing certain things too much).
Some people likely had unclear recollections that Schroeder tried to piece together (where she likely created errors).
But I'm sure the majority of it lies on the personal side, she seemed to use a ton of facts and data to support the early investments.
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The article paints an overly negative picture of what they actually said today.
The facts are not what they purport, the majority of the "loss" is "water" and an exit from any investment having risk.
They tend to litigate rather harshly, these losses are likely from a few years back SD...
The subs that have problems tend to be American and lines that they expanded irrationally.
Didn't think there was all that much FFH Family overlap where the KFS problems are.
Joseph Stilwell is very smart.
I'd suggest he has a lot more control than it appears.
btw - I own KFS
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CWB has always scared me - I recall them having a ton of construction loans in Van, Calgary and Edmonton.
Western based financial institutions in Canada have worse of a history than Texas banks...
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Many thanks Sanj!
Seems like all the regulars are over -
Is Berkshire Hathaway Under Attack?
in Berkshire Hathaway
Posted
He's likely always been/will be willing to buy back (at the right price).
If you can get a close call on your own IV - a share buyback at a substantial discount is not only highly accretive, it's also as close to a zero risk allocation of capital as one can make (provided you are highly confident in IV).
Why on earth would you buy someone else's company for half IV, if you can buy your own for that ( exc. ego).
You get that really cool reverse compounding situation too - it's permanent and so risk free.
I'm sure he'd rather be back hunting snipe, rather than elephants...
He doesn't even look at small stuff anymore.
Although he does seem to enjoy the spotlight more now though (can this interfere with his rationality??)