Buffett/Berkshire - general news

[Dynamic]

I suspect they wanted to take the opportunity of him commenting on Berkshire to tag both companies and attract more clicks, so it could be a human. I see the same with Selling Alpha where somebody quotes Buffett and mentions Berkshire as an aside when writing about a different company so the link shows up on my daily email.

[rolling]

20 hours ago, sleepydragon said:

13F is out. Any guesses what the secret stock(s) is/are?

 

Only certainty is that it is a financial stock (1,2B increase in cost basis for financial stocks but no financial stockes added on the 13-F).
Schwab?
Fairfax has been mentioned but seems unlikely (canadian stock and a big position could attract regulatory attention)

 

Other? (I must admit financial stocks are not my beach)

[Whensthepaintdry?]

I will guess DFS. 

[sleepydragon]

I am thinking FIS - a finance company with a new female blonde ceo..  Buffett like blonde:)

 

and FIS just splited out their “sexy” business and what’s left is the stable, moaty business of bank back office. Baupost also owns shares in this company.

 

 

[UK]

https://www.cnbc.com/2023/11/16/charlie-munger-says-there-isnt-the-slightest-chance-buffett-traded-own-account-to-enrich-himself.html

[John Hjorth]

3 hours ago, UK said:

https://www.cnbc.com/2023/11/16/charlie-munger-says-there-isnt-the-slightest-chance-buffett-traded-own-account-to-enrich-himself.html

 

*BS* article by CNBC, by logic. Only objective, documented facts rules here for judgement. It [Mr. Mungers statement] just proves that Mr. Munger is [naturally] fading.

 

Please make sure to be very aware of the concept of geriatric-related loss of cognitive abilities in your own personal sphere.

 

[ValueMaven]

He was also unaware of the article - which is odd for a corporate board member. 

[sleepydragon]

I agree with Munger. Munger has what nowadays many people lack: common sense.

 

There’s nothing wrong unless 1. Buffett’s trade either the same direction and immediately preceding Berkshire’s trade, or 2. opposite directions and after Berkshire’s trade. Almost all portfolio managers at mutual funds or hedge funds can trade their personal account, as long as you are not trading against your clients. 

 

And you can look at how long he hold his positions. Was he flipping right after Berkshire bought or sold? He was not. All those stocks he had for decades. 
 

[yesman182]

22 hours ago, Whensthepaintdry? said:

I will guess DFS. 

This is what I was wondering. They love their American Express, but can’t buy anymore. They also aren’t scared of consumer finance with ally and cof. 

[John Hjorth]

On 11/16/2023 at 1:10 AM, rolling said:

Only certainty is that it is a financial stock (1,2B increase in cost basis for financial stocks but no financial stockes added on the 13-F).
Schwab?
Fairfax has been mentioned but seems unlikely (canadian stock and a big position could attract regulatory attention)

 

Other? (I must admit financial stocks are not my beach)

 

It does not really matter with a balance sheet of USD 1 T and an equity of north of USD 0.5 T.

[rolling]

1 hour ago, John Hjorth said:

 

It does not really matter with a balance sheet of USD 1 T and an equity of north of USD 0.5 T.

I am not invested in BRK and do not think of investing soon (I do not like the big Apple position), but I might be interested co investing with them.

[dealraker]

21 hours ago, sleepydragon said:

I agree with Munger. Munger has what nowadays many people lack: common sense.

 

There’s nothing wrong unless 1. Buffett’s trade either the same direction and immediately preceding Berkshire’s trade, or 2. opposite directions and after Berkshire’s trade. Almost all portfolio managers at mutual funds or hedge funds can trade their personal account, as long as you are not trading against your clients. 

 

And you can look at how long he hold his positions. Was he flipping right after Berkshire bought or sold? He was not. All those stocks he had for decades. 
 

Zero logical motivational reasons for Buffett to do trades for his personal benefit.  I don't doubt though that wierd stuff like confusion could crop up at some point in the future.

 

I'm just shy of 70 but my mental declines, even while trying my best and my wife's push to keep me sharp...well declines are perfectly obvious.  They show up in places not expected, nearly always that.  

 

But even I, at my tiny net worthy compared to Buffett, have zero interest in trades for personal gain for the most part now.  I pretty much (again) stay active to be able to stay active, not to gain $.  

[John Hjorth]

On 11/17/2023 at 11:49 PM, dealraker said:

Zero logical motivational reasons for Buffett to do trades for his personal benefit.  I don't doubt though that wierd stuff like confusion could crop up at some point in the future.

 

I'm just shy of 70 but my mental declines, even while trying my best and my wife's push to keep me sharp...well declines are perfectly obvious.  They show up in places not expected, nearly always that.  

 

But even I, at my tiny net worthy compared to Buffett, have zero interest in trades for personal gain for the most part now.  I pretty much (again) stay active to be able to stay active, not to gain $.  

 

It would be nice with a separate topic somewhere here on CoBF to discuss geriatric bladders [sorry, pardon : matters!] for those of us both shrugging, sighing and / or perhaps even whining about geriatic issues.

 

The issue at hand here is : Who is going to start it?

[formthirteen]

Mrs. B ”I don't know education, books, percentage”.

……

Buffett: ”Of the 25 top graduates of the top business schools in the country and the 25 picks from the top CEOs of the Fortune 500…or I could take Mrs. B. I would take Mr. B.”

 

 

[Munger_Disciple]

Fantastic letter from Buffett on the eve of Thanksgiving! We are lucky to have the  running Berkshire. Wonderful human being too.

 

https://www.berkshirehathaway.com/news/nov2123.pdf

[Charlie]

"Fantastic letter from Buffett on the eve of Thanksgiving! We are lucky to have the  running Berkshire. Wonderful human being too.

 

https://www.berkshirehathaway.com/news/nov2123.pdf"

 

+1

Edited November 22, 2023 by Charlie

[dymanojbabu]

This is fantastic.  

 

"My three children are the executors of my current will as well as the named trustees of the charitable trust that will receive 99%-plus of my wealth pursuant to the provisions of the will. They were not fully prepared for this awesome responsibility in 2006, but they are now"

[WFF]

Looks like Berkshire exited Paytm position in India, taking an estimated 40% loss.  I think this was a Todd position.

[giulio]

Today is a sad day

[bizaro86]

30 minutes ago, giulio said:

Today is a sad day

 

I had this thread open already and saw your post, and thought "selling PayTM doesn't seem like tha big deal a deal".

 

Then I clicked back to the main forum.

 

RIP Charlie.

[Munger_Disciple]

Very sad day. Charlie was a father figure to me. I had the joy of meeting him twice in person & he was just an amazing and a very wise human being. We will miss him.

[gfp]

RIP Charlie.  

 

Also, the plot thickens in Brk vs Haslam/pilot flying J

 

https://www.reuters.com/legal/buffetts-berkshire-countersues-billionaire-haslams-battle-over-pilot-valuation-2023-11-29/

[Spekulatius]

36 minutes ago, gfp said:

RIP Charlie.  

 

Also, the plot thickens in Brk vs Haslam/pilot flying J

 

https://www.reuters.com/legal/buffetts-berkshire-countersues-billionaire-haslams-battle-over-pilot-valuation-2023-11-29/

Imagine being worth $8.8B and then coming up with this low life scheme to squeeze out the last few hundred million $ from the remaining 20% of the business they agreed to sell already. WEB misjudged the character of the sellers here.

[KPO]

1 minute ago, Spekulatius said:

Imagine being worth $8.8B and then coming up with this low life scheme to squeeze out the last few hundred million $ from the remaining 20% of the business they agreed to sell already. WEB misjudged the character of the sellers here.

Agreed. Makes me wonder about the level of scum correlation to sports team owners as they immediately used the latest tranche of selling off the family business to buy the Milwaukee Bucks. 

[CassiusKing1]

Haslam has always been a pill popping, alcoholic, train wreck.  Hard to not know what you're dealing with here.

 

Buffett, needs to back out of the entire deal, give Haslam his company back and then WEB can go BUY Bucee's! LOL.