gfp

If my envelope math is correct he is down to about 400m AAPL shares at quarter end (from 789.37m AAPL shares at Q1 quarter end) Looks like CVX is down to ~ 118.9m shares from 122.98m, another trim there Obviously BYD was being sold in the quarter. Subsequent to quarter-end we have the BAC sales. Seems possible he stopped selling AAPL after quarter-end but we'll see next Q. Tax rate is ~ 20% on these sales. US. Treasury is about to get some big checks from Omaha next two quarters.

10Q is out. Cash and T-bills higher than expected! https://berkshirehathaway.com/qtrly/2ndqtr24.pdf Press release here: https://berkshirehathaway.com/news/aug0324.pdf Share repurchases down to $345m in the quarter. Float up $1 Billion from Q1. Buffett at AGM: "I'm not afraid to pay taxes on realized gains" (or something like that) Proceeds to sell $77 Billion of equities in Q2 - over $25 Billion per month

Thanks for posting - that is interesting. One of my cousins runs a sewer and water business and whenever he asks me about PVC pricing (primarily 20 ft. lengths of schedule 40 PVC pipe in 4" and 6" diameters) I can never figure out why his prices are going up or down while the raw commodity PVC is doing the opposite. Without looking into it further I figured transportation cost of the pipes must be a major component of their cost for end-users but this article doesn't surprise me. Prices for fittings are even crazier. Lately he has been using more HDPE pipes - like you see in large municipal water mains. They fuse them together by melting the edges and clamping them together.

This quarter was helped by a large block purchase of Prem's shares. I wouldn't expect this to be the new open market run-rate for repurchases. It's not a super liquid stock. I'm happy they are being more aggressive now that the dividends are flowing down to the holdco. I didn't hear them mention plans for buying in minority interests in subsidiaries on the call - did anyone catch anything on that or did it go unmentioned?

Thanks - I guess bloomberg was reporting what the Toronto Stock Exchange calls "consolidated volume" - which is now over 84k shares https://money.tmx.com/en/quote/FFH

That is combined volume for both listings. TSE volume was over 50k shares last I checked edit: bloomberg is showing TSE volume over 74k shares presently

What? I don't understand any of that. Volume is approaching 60,000 shares for Fairfax at mid-day. There is a buyer like me for every seller. Far more than $1.2 million worth of stock is changing hands

It's possible that is the reason. Also possible he just wants the privacy of being below 10%. Berkshire has regulator approval to own up to 25% of BAC but things can change I suppose. If I had to guess, he just wants to sell the stock.

Well now I am buying Fairfax again. 1500.50 CAD and 1086 USD And again 1490 CAD and 1078 USD again at 1069 USD - loving this. That might be it for now, seems like someone stepped in to buy

I heard that figure as well but I think its a little bit misleading because it includes extra cash and the construction mortgages through KW are all accounted for as less than 1 year. I think the effective duration of the bulk of the actual bond portfolio is longer than this.

On Crowdstrike claims - not material. Interesting that the patch was provided very quickly and these Business Interruption policies have waiting periods of 8-12 hours built into the policy language.

So the Compulsory convertible preferred Digit shares portion of the investment (separate form the 49% equity interest) will be marked to market, this quarter and going forward.

No surprise, Warren still selling BAC. Down to 12.14%. https://www.sec.gov/Archives/edgar/data/70858/000095017024089567/xslF345X03/ownership.xml

The beginning of Fed interest rate cuts. Ain't nothing good happened in my investing lifetime once that happens

What do the year 2000, the year 2007 and the year 2019 all have in common?

I would expect the results around 5pm eastern time, so a bit more waiting than that

Notice how these press stories don't say, "Delta hired David Boies to file an insurance claim.." ? https://www.cnbc.com/2024/07/30/crowdstrike-shares-plunge-11percent-on-report-that-delta-may-seek-damages.html

Bets on yet another Form 4 showing BAC sales dropping this evening? Say around 8pm Eastern time?

The way Bloomberg is reporting this, it sounds like it would apply to Keith Gill as well. Which is surprising to me. I wonder if the text below represents the actual case against Citron or if there is more to it. “Left knowingly exploited his ability to move stock prices by targeting stocks popular with retail investors and posting recommendations on social media to manipulate the market and make fast, easy money,” the Justice Department said in its statement. Left, according to prosecutors, would also quickly close positions after releasing a research report or making comments. That would let him take advantage of short-term price movements. According to the SEC, Left’s misconduct touched stocks including Roku Inc., American Airlines Group Inc. and Nvidia Corp. “This fraudulent practice deceived investors and allowed Left to use his Citron Research reports and tweets as catalysts from which he could derive short-term profits,” the SEC alleged in the complaint. The mere appearance of research from a prominent bear can send a stock into a tailspin before the market has time to debate its merit, which can be especially hard on small investors who can’t react quickly. Companies and shareholders have increasingly cried foul, prompting US congressional hearings.

That is an enterprise value with assumed debt and lease liabilities. Fairfax is paying $35 CAD per share for 35 million shares so 100% of the equity is around $890m USD. If you are going to use enterprise value, I would use something other than reported net income to see if it is expensive or not.

How do you figure they are paying $1.2 Billion USD for this?

Who knows... But it is important to remember that not everybody is like the nerds on this message board going through the 7 stages all the way to acceptance on the decision to buy a mattress retailer in a matter of hours. Some folks only hear about the mattress retailer a bit later and are slower to progress through the stages... (also Eurobank looked like it was breaking out and reversed lower instead. But the bull steepening in government bonds ought to be a big plus for 'em)

I think it falls under Cyber and not all Cyber policies cover non-malicious attacks. This is just a fuck-up. Not all fuck-ups are insured. That's what lawsuits against the vendor are for! edit: and if anything came out of the pandemic era lawsuits it would be tightened-up Business Interruption policy language. You want coverage for something non-typical BI? Pay for it a-la-carte.

He ran out of personal cash in the 70's at some point. He had come out of the Buffett Partnership wind-down with $16 million in cash but he used that cash to buy more Berkshire and Blue Chip shares. The first Laguna house cost $150k. He probably had a net worth between $25 and 40 million at the time Susie convinced him to buy that $150k house. He was only making $50k a year salary at BRK and he had a little bit of other income - but he was pretty tapped out at one point cash-wise. I think he bought the first Laguna house before he ran low on cash but I don't know for sure.

That is the enterprise value, not the cash outlay for 100% of the equity of the business. I'm not sure if they are including lease accounting as "debt" in that figure but the best I can see there are around 35 million fully diluted shares of ZZZ that FFH is buying for $35 CAD each. 35 times 35 is CAD 1.225B and that is around $890m USD