gfp

berkowitz is holding a conference call right now. You should listen to it. (there is no new news)

Where does he say it is a net-net? Not being a subscriber to his paid newsletter, there is nothing of substance at the link you provided. Not too long ago it could be said that the company had "net cash" or a "net cash position." But a net-net is much more rare, especially in large US companies.

Seriously? I need to start charging my friend/family when they call me with their computer/network problems.... :) My wifi router is about 3 years old and I think I needed to unplug it and plug it back in once or twice in that time, but other than that no problems. It sounds like this person you know should just buy a new router and fire his tech guy. It's several houses that are attached by breezeway / hallway thingies. With multiple guest structures, etc... I think the stucco wire mesh creates some type of faraday cage that makes the wi-fi system fairly complicated. But old people can't fix that type of stuff. They CAN throw tantrums when the wi-fi doesn't work at their home but works perfectly at an $8/night hostel...

"If I had a few million that I had to spend, but couldn't buy a house/car/boat/rv/lawyer how could I possibly spend the money?" International luxury travel can add up - especially if you are flying private. The most conspicuous consumers I know spend a lot on travel, a lot on renovations of properties, a lot on "pet projects" - exotic tree farm with a 'writing cabin' in the middle anyone?... And a lot on gifts of high-end items to others, including family. Having a family full of private school tuitions and private university tuitions can add up as well. I know someone who spends tens of thousands a year just to have someone on call to fix the wi-fi in their home when it goes out (which is constantly)... It's ridiculous.

They could have purchased Tim Hortons shares in Canada and they wouldn't have to report them on the 13F at all. It is also possible they invested in 3G partnerships directly and received interests in the common that way - but that is not common for Buffett.

Not sure if this was posted elsewhere on the board, but on the same day as the Charter Brokerage acquisition announcement Berkshire sent out a press release confirming the closing of their investment in QSR, Restaurant Brands International (the BKW-THI merger). What was previously unreported about the deal is that Berkshire will hold 4.18% of the common shares (and 14.37% of the votes because of the preferred shares) following the deal. Since the penny warrants were only for 1.75% of the common, this means Berkshire purchased a meaningful stake (over $400 million USD) in either BKW or THI before the merger (or has investments in the 3G partnership itself). 2.43% of the combined company was accumulated by Berkshire and 1.75% was given for almost free. http://berkshirehathaway.com/news/DEC1214-2.pdf

The deal is worth your $62.12 number and you can buy BHI in the market for 55.45. That is the spread. Forget about the 78.62 number.

It's the second bolt-on at Lubrizol in a week. They are going to combine today's two companies with the PSX sub they swapped for. Here is last week's LZ bolt-on - probably a couple hundred million but not disclosed: http://newscenter.lubrizol.com/phoenix.zhtml?c=250972&p=irol-newsArticle&ID=1992404

Hey Liberty, PSH has a website with all the communications in PDF - http://pershingsquareholdings.com/media/2014/09/Pershing-Square-Holdings-Ltd.-Q3-Investor-Letter.pdf

Fairfax just came out - http://www.sec.gov/Archives/edgar/data/915191/000110465914080915/xslForm13F_X01/a14-24274_3informationtable.xml looks like they added to IBM before the drop

He would owe 34% on $4.364 Billion - which comes to $1.48 Billion in tax (which is also the value of the deferred tax liability that would "vanish" from BRK's books)

Heinz 10Q out - http://www.sec.gov/Archives/edgar/data/1600508/000160050814000013/hnz10q92814.htm

"I think Berkshire would love to own this company for ever. " Berkshire owns their main competitor through Mitek. http://www.uspconnectors.com

http://www.cnbc.com/id/102052785 - initial CNBC report http://www.berkshirehathaway.com/news/OCT0214.pdf - Berkshire / Van Tuyl group joint press release No information on price so far, but it looks around the same size as Sonic Automotive.

If sites like Yahoo can't even get simple things like share counts / market caps correct (and they virtually never do), they certainly aren't much use for anything more involved than that. Most of those websites, Bloomberg excepted, don't even attempt a Market Cap any more. It was too advanced for them...

I would start by doing some research on the company and its industry. You would want to use the internet, the telephone and your eyes depending on the industry. Sometimes suppliers can be harder to track down - check the filings for risk factors on supplier concentration to see if they disclose any names or percentages. Otherwise it's gonna take scuttlebutt. (if this word means nothing to you, read a bit of Philip Fisher and maybe some Peter Lynch)

That was only in Canada. The Costco American Express TrueEarnings card is very popular in the United States and Amex is the only credit card accepted at US Costco locations. I thought they ended that or was that only in Costco Canada?

looks like last year

We probably won't know until they make a filing. I would guess that it has his usual redemption premium (~10%) and it is possible that it is a compounding security that earns 9% on accrued dividends (ie, doesn't pay cash dividends) Plus something? Sweeteners?

BRK's $3 Billion preferred shares will accrue a 9% coupon

Man, when is this Buffett guy going to start working on behalf of all shareholders? Enough is enough

here are some basics of the bond: http://finra-markets.morningstar.com/BondCenter/BondDetail.jsp?ticker=C513237&symbol=MLET3677468 Then you can find the prospectus on the SEC Edgar website, although it may take a while to find. It will be under Harrah's / Ceasars / or whatever they are calling the broken off bits these days.

it happened, fwiw

Businessweek has a rare long form article on Byron Trott that's worth a read: http://www.businessweek.com/news/2014-08-08/trott-once-goldman-buffett-whisperer-adds-kochs-to-wealthy-ties

They are rumored to be among the bidders for crop insurer ProAg, although there are quite a few firms looking at it. http://www.proag.com/