zarley Posted February 26, 2014 Share Posted February 26, 2014 does anyone know when the letter & results will be published? I think Friday after market close is the base expectation. Friday of the last week of the first quarter is the standard, IIRC. Link to comment Share on other sites More sharing options...
rayfinkle Posted February 26, 2014 Share Posted February 26, 2014 does anyone know when the letter & results will be published? I think Friday after market close is the base expectation. Friday of the last week of the first quarter is the standard, IIRC. Thanks zarley, much appreciated. Link to comment Share on other sites More sharing options...
usdtor05 Posted February 26, 2014 Share Posted February 26, 2014 Pretty sure it's Saturday actually. March 1. You get 60 days to file so that would put it on that Saturday. http://www.businessinsider.com/warren-buffett-shareholder-letter-date-march-1-2014-2 Link to comment Share on other sites More sharing options...
zarley Posted February 26, 2014 Share Posted February 26, 2014 Pretty sure it's Saturday actually. March 1. You get 60 days to file so that would put it on that Saturday. http://www.businessinsider.com/warren-buffett-shareholder-letter-date-march-1-2014-2 Interesting. I was under the impression that the saturday release practice ended in 2012. In any event, I apologize for the bad information. Looks like I'll read it with my coffee and not a glass of wine. ;) Link to comment Share on other sites More sharing options...
james22 Posted February 27, 2014 Share Posted February 27, 2014 Then the bubble burst... Again, a bubble had popped... How is this not macro? Link to comment Share on other sites More sharing options...
ragu Posted February 27, 2014 Share Posted February 27, 2014 Then the bubble burst... Again, a bubble had popped... How is this not macro? Technically it is, although I suspect he couldn't have predicted exactly when it would happen. And that's what he is against: Making investment decisions based on macro-economic predictions in the short-term. In the cases above, he simply went looking in areas where the bubble had indeed popped i.e. prices had declined considerably so as to offer value. Best, Ragu Link to comment Share on other sites More sharing options...
rohitc99 Posted February 27, 2014 Share Posted February 27, 2014 Buffett takes his own advice so seriously that he exited the market entirely in 1969 and 1970. Market valuation and analysis is bad :) isn't the advise for the know nothing person ? someone like buffett may not need any advise :) Link to comment Share on other sites More sharing options...
Rabbitisrich Posted February 27, 2014 Share Posted February 27, 2014 Buffett takes his own advice so seriously that he exited the market entirely in 1969 and 1970. Market valuation and analysis is bad :) isn't the advise for the know nothing person ? someone like buffett may not need any advise :) Arguably, Buffett's cautionary is more suited for the experienced investor, who may be lost in models and big picture narratives that impress at dinner parties and client meetings. But the new investor might literally try to ignore macro issues, without understanding that every company specific expectation exists in permissive macroeconomic conditions. Link to comment Share on other sites More sharing options...
jay21 Posted February 27, 2014 Share Posted February 27, 2014 Then the bubble burst... Again, a bubble had popped... How is this not macro? He is looking at FCF yield after a large decline in price. How's that macro? Link to comment Share on other sites More sharing options...
james22 Posted February 27, 2014 Share Posted February 27, 2014 He only had the cash to take advantage of the opportunity because he considers investment opportunities across time. He'd otherwise have been fully invested at the time (in the most attractive opportunities of the time). It's not market timing in that he made no prediction as to when the bubble might burst (or even that it was a bubble), but it's macro given he believed more attractive opportunities would later show. But maybe I quibble. Link to comment Share on other sites More sharing options...
ukvalueinvestment Posted February 27, 2014 Share Posted February 27, 2014 Is anyone else curious as to why Buffett has released this, and released it early? Buffett has never before released part of his letter early, so what does he gain, given he's so resistant to change? And as for writing a handy guide reminding everyone to focus on cash, is he trying to tell us something? Is this some kind of message that the market is bubbly and overvalued, in his opinion? Is there another theory? Or am I reading too much into things? Link to comment Share on other sites More sharing options...
racemize Posted February 27, 2014 Share Posted February 27, 2014 Is anyone else curious as to why Buffett has released this, and released it early? Buffett has never before released part of his letter early, so what does he gain, given he's so resistant to change? And as for writing a handy guide reminding everyone to focus on cash, is he trying to tell us something? Is this some kind of message that the market is bubbly and overvalued, in his opinion? Is there another theory? Or am I reading too much into things? Carol gets to pre-release portions of his letters from time to time. I think they did this last year at least? Link to comment Share on other sites More sharing options...
bizaro86 Posted March 3, 2014 Share Posted March 3, 2014 http://www.berkshirehathaway.com/2013ar/2013ar.pdf Full report is out. Link to comment Share on other sites More sharing options...
Guest wellmont Posted March 3, 2014 Share Posted March 3, 2014 Is anyone else curious as to why Buffett has released this, and released it early? Buffett has never before released part of his letter early, so what does he gain, given he's so resistant to change? And as for writing a handy guide reminding everyone to focus on cash, is he trying to tell us something? Is this some kind of message that the market is bubbly and overvalued, in his opinion? Is there another theory? Or am I reading too much into things? he has a very good relationship with Fortune. Carol Loomis or somebody at Fortune probably suggested it to Warren, who then agreed it would be a good educational piece. Link to comment Share on other sites More sharing options...
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