indythinker85 Posted January 22, 2014 Share Posted January 22, 2014 http://www.bloomberg.com/news/2014-01-22/berkshire-said-to-face-start-of-u-s-scrutiny-on-systemic-risk.html Link to comment Share on other sites More sharing options...
fareastwarriors Posted February 20, 2014 Share Posted February 20, 2014 http://www.bloomberg.com/news/2014-02-20/in-buffett-we-trust-as-berkshire-annual-report-lacks-disclosure.html Berkshire Investors Lacking Data Take Buffett on Faith Link to comment Share on other sites More sharing options...
JBird Posted February 20, 2014 Share Posted February 20, 2014 The disclosure is “sufficient for his shareholder base at the moment,” said Jeff Matthews, a Berkshire investor and author of books about the company. “Once he’s gone, people are going to say, ‘What’s here? What do I really own?’” That is hilarious. As an aside, the article cites Richard Cook, founder of Cook & Bynum. I find that firm's story interesting. It began on July 1, 2009, when the S&P 500 traded at 879. He and his partner couldn't have dreamed of a better time to start with 100% cash. Today the firm lags the performance of the S&P 500 since inception by 5.84% compounded annually. And yet today they are managing ~$290 million. I contrast that to a firm like Arlington. Their AVM Ranger fund started exactly 1 year prior to Cook & Bynum's, when the S&P traded at 1,262. The Ranger fund, between '08 and '12, outperformed the S&P 500 by 25% compounded annually, net of fees. Today they are managing ~$350 million. Both espouse Buffett and Graham principles. Now compare the websites of the two firms. http://www.cookandbynum.com/ http://arlingtonvaluemanagement.com/ It's disturbing to me that window dressing attracts capital about as well as outperformance. Link to comment Share on other sites More sharing options...
Ham Hockers Posted February 20, 2014 Share Posted February 20, 2014 As an aside, the article cites Richard Cook, founder of Cook & Bynum. I find that firm's story interesting. It began on July 1, 2009, when the S&P 500 traded at 879. He and his partner couldn't have dreamed of a better time to start with 100% cash. Today the firm lags the performance of the S&P 500 since inception by 5.84% compounded annually. And yet today they are managing ~$290 million. It's worse than that, the figures on their website (where I think you got the -5.84% relative performance) is only through 2012. Through 2013 it's more like -7.9% Link to comment Share on other sites More sharing options...
Ham Hockers Posted February 20, 2014 Share Posted February 20, 2014 As an aside, the article cites Richard Cook, founder of Cook & Bynum. I find that firm's story interesting. It began on July 1, 2009, when the S&P 500 traded at 879. He and his partner couldn't have dreamed of a better time to start with 100% cash. Today the firm lags the performance of the S&P 500 since inception by 5.84% compounded annually. And yet today they are managing ~$290 million. It's worse than that, the figures on their website (where I think you got the -5.84% relative performance) is only through 2012. Through 2013 it's more like -7.9% Sorry, more like -6.4% Link to comment Share on other sites More sharing options...
KinAlberta Posted February 21, 2015 Share Posted February 21, 2015 Just couple intelligent points made here on Berkshire Hathaway's disclosure practices... http://brooklyninvestor.blogspot.ca Link to comment Share on other sites More sharing options...
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