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Charlie

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    Two recent articles by Francois Rochon

    in General Discussion

    Posted

    I find Mr. Rochon doings and writings always interesting, too and always learn something.  :)

     

    I thought his arguments about the index investing were a little bit weak and his comparison with 1998. He wants to keep his clients.  ;)

     

    I have no idea, but it looks like he bought the additional US banks in 2019. As a Buffett student I would guess he bought BAC, US Bancorp and

    Wells Fargo.

     

    Annual Letter 2018

    in Berkshire Hathaway

    Posted

    "I thought the letter was short and sweet. We should get used to that anyway. "

     

    +1

     

    I liked this part:

     

    "Let’s now look further at Berkshire’s most valuable grove – our collection of non-insurance businesses – keeping in mind that we do not wish to unnecessarily hand our competitors information that might be useful to them. Additional details about individual operations can be found on pages K-5 – K-22 and pages K-40 – K-51.

    Viewed as a group, these businesses earned pre-tax income in 2018 of $20.8 billion, a 24% increase over 2017. Acquisitions we made in 2018 delivered only a trivial amount of that gain.

    I will stick with pre-tax figures in this discussion. But our after-tax gain in 2018 from these businesses was far greater – 47% – thanks in large part to the cut in the corporate tax rate that became effective at the beginning of that year. Let’s look at why the impact was so dramatic."

     

     

     

     

    berkshire - cheap?

    in Berkshire Hathaway

    Posted

    The gift still keeps giving.

     

    It´s good to be 100% in Berkshire.  :)

     

    I love the Apple position and the earnings increase. I regret that I didn't have bought more Berkshire or Apple for my parents (40% invested in Berkshire, 0% in Apple).

     

    We will see if the share price will move up fast or if there are enough people willing to sell with the good possibility to selling shares to Warren and Charlie. It´s a No-Brainer not to. ;-)

    There´s a good chance that Warren and Charlie will pay up to 1,40-1,45 P/B and with P/B of 1,399 now it will be interesting to watch.

    The buybacks can begin next Monday....

     

    Cheers!

    Buffett/Berkshire - general news

    in Berkshire Hathaway

    Posted

    "While I think Semper has done some great work on Berkshire, I'd say Tilson has provided a good service of updating this valuation over the years.  It makes sense, doesn't require 50 pages of explanation, and is within the range of a reasonable IV.  As Buffett says, you don't need a scale to tell if a man is overweight."

     

    +1

     

    Everybody has their misses: Tilsons hedge fund performance, his $3000 investing seminars and Semper Augustus discussion about

    Index Funds.  ;)

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