cubsfan Posted May 26, 2021 Posted May 26, 2021 ^ Yup, I like them too - met both of them at Berkshire meetings. Good guys. But I have tuned them out as well - as previous guys said - if you don't like the focus on macro calls, like oil or crypto, which I don't, then it's just too much guessing.
Xerxes Posted May 26, 2021 Posted May 26, 2021 On 5/25/2021 at 10:05 AM, nickenumbers said: Yes, I like listening to the TIP podcast from time to time too. I particularly like when they have a quarterly mastermind conversation, with the 4 different perspectives. I wonder if Stig's partner Preston wore out everyone's patience with his mental anchor on Bitcoin and crypto. I think it is one tool to consider, but it is not the whole tool box. I wonder if Stig had enough of Preston's crypto monolog and that might be why they are not doing the podcast together as much.. I like it better this way with Stig. I like Preston when he has an open clear mind to everything... but he was becoming a bit myopic. Does anyone have thoughts or information about the status of their co-hosting? my 2 cents: i am voracious listeners of business/investing podcasts, but i am not free 24/7 to listen to them as i have a day job. So i listen while driving somewhere or jogging (run about +50-60km per week). Giving my limited time to soak up podcasts but large supply podcast that is only ever increasing, i have felt that since last summer i am listening less and less to some, and building concentration in others. I don't plan it like that, but the market (i.e. my brain) just goes for the most interesting ones as i leave my house for my daily run. On TIP, i am actually enjoy listening to some of the older ones, if i want to look an interview with someone who peaked my interest. On the BTC focus, they should just separate them, because even if the episodes shows up as BTC, it still comes under the same banner. And some people get turned away from potential gems, if it is surrounded on screen with the Bitcoin. People usually make their decision in span 5-10 seconds on what to listen or not listen to. On the pivot itself, it is their business, who am I to complain. They provide a public service (with advertising so maybe not that free), but i am guessing with so much investing/business podcast coming in 2020, they probably have to remain competitive, and Bitcoin is the where eyeballs are (eardrums). But I agree that in a specific episode at TIP, when they were talking about Brookfield, you had Preston judging it by comparing it return to NASDAQ and to crypto by extension. I understand what he is getting at, but this is like me crashing a Bitcoin party, by telling them how Resolute Forest outperformed Bitcoin since March 2020, so we should be talking about lumber and not crypto. Comparing the return of Brookfield to NASDAQ is not correct.
Xerxes Posted May 28, 2021 Posted May 28, 2021 Now a business case in business schools Berkshire Hathaway: Covid-19 and the Great Disconnect | Harvard Business Publishing Education "We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful." Warren Buffet, 1986 Letter to Shareholders. This investment strategy had proven powerful for Berkshire Hathaway, Inc. It had transformed a bad textile company into a diversified investment company, ranked as the 12th largest company in the world in 2019, right behind Apple. It had made Warren Buffet a billionaire and countless of his shareholders millionaires. At the end of 2019, Berkshire's shareholders included Fidelity Investments and the central bank of Norway. The company's stock was considered the number one retirement stock in America. Amid the 2020 coronavirus pandemic, U.S. financial markets crashed at record speed (-35% between February 12 and March 20, 2020), including the biggest single-day drop ever of -12.9% on March 16, 2020, eclipsing the record of October 28, 1929. Expected to be greedy when others are fearful, Buffet was a net seller of stocks and remained on the sideline during that period. His inaction, combined with an unusually cautionary tone at the annual shareholders' meeting, triggered heavy criticisms. Some of his loyalists sold their stocks. As he was approaching his 90th birthday, many started to wonder whether Warren Buffet had changed his time-tested strategy. Was he disconnected from reality? Was he fearful himself?
John Hjorth Posted May 28, 2021 Posted May 28, 2021 Thank you for sharing, Xerxes, However, useless & clear hindsight bias. Nobody knew back then - except perhaps Mr. Buffett & Mr. Hamburg [on overall level, & gradually over time] - how the liquidity needs of the Berkshire subsidiaries evolved over time, at that time.
dcollon Posted May 28, 2021 Posted May 28, 2021 I have a filter for reading things about Mr. Buffett. When they can't spell his name correctly, I don't read it.
John Hjorth Posted May 28, 2021 Posted May 28, 2021 1 minute ago, dcollon said: I have a filter for reading things about Mr. Buffett. When they can't spell his name correctly, I don't read it. Thank you for sharing, dcollon, -Fun on a Friday! [ : - D ]
ValueMaven Posted June 5, 2021 Posted June 5, 2021 Looks like Blackstone is going to acquire Medline. Depending on valuation, this is just the type of business that would have been a perfect home for Berkshire. https://www.wsj.com/articles/group-including-blackstone-nears-deal-to-buy-medline-for-over-30-billion-11622910788?mod=markets_lead_pos1
Xerxes Posted June 7, 2021 Posted June 7, 2021 Come one, Blackstone, give me a chance again, this time I promise I will buy !! I will not be stupid this time around.
John Hjorth Posted June 7, 2021 Posted June 7, 2021 43 minutes ago, Xerxes said: Come one, Blackstone, give me a chance again, this time I promise I will buy !! I will not be stupid this time around. Thank you for making my day, Xerxes!
nwoodman Posted June 8, 2021 Posted June 8, 2021 (edited) https://www.wsj.com/articles/berkshire-hathaway-to-buy-500-million-stake-in-brazils-nubank-11623153600 Brazil’s digital bank operator Nu Pagamentos SA said Berkshire Hathaway Inc. BRK.B -1.05% agreed to buy $500 million of its shares, as digital banking expands quickly in Latin America’s largest economy. The investment is accompanied by another, $250 million deal that includes various domestic and foreign investors, Nu said. Both deals were signed late Friday and put the company’s value at $30 billion, Nu said. The São Paulo-based, privately held firm operates via its Nubank brand. It is the largest fintech in Latin America and one of the largest in the world, with 40 million users in Brazil, Mexico and Colombia, the company said. It has raised around $2 billion since its inception in 2013, Nu said. The company said Berkshire’s is the largest single investment it has ever received. Nu didn’t disclose the size of any investor’s stake. Todd Combs? Edited June 8, 2021 by nwoodman
hasilp89 Posted June 8, 2021 Posted June 8, 2021 would assume so, believe he was the one behind StoneCo.
gfp Posted June 8, 2021 Posted June 8, 2021 ProPublica has a not-that-enlightened article on Billionaires' tax bills, which may or may not be worth your time. But some might find Warren Buffett's detailed written response to the journalist of interest. It does come from the man himself after all. Another item of interest is a look into Michael Bloomberg's personal tax situation, since his company is a pass through LP. Orignal article: https://www.propublica.org/article/the-secret-irs-files-trove-of-never-before-seen-records-reveal-how-the-wealthiest-avoid-income-tax spoiler alert: extremely wealthy people pay a low "tax rate" on their annual increases in net worth if they don't realize gains or pay dividends. Buffett letter: https://www.documentcloud.org/documents/20798866-buffett-statement-june-2-2021
Munger_Disciple Posted June 8, 2021 Posted June 8, 2021 (edited) 4 hours ago, gfp said: ProPublica has a not-that-enlightened article on Billionaires' tax bills, which may or may not be worth your time. But some might find Warren Buffett's detailed written response to the journalist of interest. It does come from the man himself after all. Another item of interest is a look into Michael Bloomberg's personal tax situation, since his company is a pass through LP. Orignal article: https://www.propublica.org/article/the-secret-irs-files-trove-of-never-before-seen-records-reveal-how-the-wealthiest-avoid-income-tax spoiler alert: extremely wealthy people pay a low "tax rate" on their annual increases in net worth if they don't realize gains or pay dividends. Buffett letter: https://www.documentcloud.org/documents/20798866-buffett-statement-june-2-2021 The propublica article is truly idiotic. The reporters use a flawed metric namely the ratio of income taxes paid in a period spanning a few years to increase in wealth of the individual during that period. It is conflating wealth with income. The right metric is (obviously) the ratio of income taxes paid to income earned. By this measure if someone owns a piece of land or a painting that produces no income, she is paying too little in taxes. What if wealth decreases in that period? It is not like that person doesn't need to pay taxes. She still has to pay income taxes during that period based on earned income. Looks like click-bait to me. Edited June 8, 2021 by Munger_Disciple
Munger_Disciple Posted June 9, 2021 Posted June 9, 2021 WSJ editorial board on the propublica article & the IRS: https://www.wsj.com/amp/articles/return-of-the-irs-scandal-11623191964
petec Posted June 9, 2021 Posted June 9, 2021 Interesting! https://www.wsj.com/articles/berkshire-hathaway-to-buy-500-million-stake-in-brazils-nubank-11623153600
IceCreamMan Posted June 12, 2021 Posted June 12, 2021 Nothing new here, but collects a few old quotes from/about John Malone, Warren Buffett, and Bill Gates. https://markets.businessinsider.com/news/stocks/warren-buffett-bill-gates-microsoft-stock-ipo-john-malone-liberty-2021-6-1030496996
alpha Posted June 14, 2021 Posted June 14, 2021 Large fire at Chemtool Plant in Illinois today.... Berkshire not having good luck with fires recently https://ph.news.yahoo.com/explosion-fire-chemtool-facility-forces-181714372.html
Gregmal Posted June 14, 2021 Posted June 14, 2021 On 6/8/2021 at 11:26 PM, Munger_Disciple said: WSJ editorial board on the propublica article & the IRS: https://www.wsj.com/amp/articles/return-of-the-irs-scandal-11623191964 Yea if you arent with the movement, your civil rights are free to be violated. Its a real shame.
gfp Posted June 15, 2021 Posted June 15, 2021 Less and less is actually material to Berkshire parent company these days, but in the news yesterday is a large fire at an Illinois Chemtool plant. Chemtool is a subsidiary of Lubrizol (purchased in 2011). https://www.google.com/search?q=chemtool&client=safari&sxsrf=ALeKk014l-R38ukUgBp_ETy-qYpx__RDiA:1623773872280&source=lnms&tbm=nws&sa=X&ved=2ahUKEwi22uiGhZrxAhWXXc0KHWAvCtAQ_AUoBHoECAEQBg&biw=1341&bih=1287 In other news, TransRe (an Alleghany subsidiary) and GenRe are not renewing their 5 year underwriting partnership - https://www.reinsurancene.ws/transre-and-gen-re-break-off-underwriting-partnership/
Thelilyinvestor Posted June 18, 2021 Posted June 18, 2021 Will we see a big number of share buybacks in Q2 2021 or a clear slowdown because the share price went up? Anyone any thoughts? I personaly think Berkshire Valuation as pretty much fair so I expect a clear slowdown of buybacks by Buffett. On the other side, I prefer to see them keep doing buybacks even at fair value rather than the cash balance keep going up up and up.
ValueMaven Posted June 18, 2021 Posted June 18, 2021 I'm glad the stock stopped running higher actually.
gfp Posted June 18, 2021 Posted June 18, 2021 Its a teeny tiny acquisition at Clayton properties group - https://huntsvillebusinessjournal.com/lead/2021/06/17/goodall-homes-acquires-huntsville-based-legacy-homes/
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