Buffett/Berkshire - general news

[backtothebeach]

Year-end BV should be around $260 per B-share.

[gfp]

More out with the old at Pilot -

https://www.reuters.com/business/pilot-energy-business-president-marketing-chief-out-shakeup-2024-01-30/

[xo 1]

On 1/30/2024 at 5:02 PM, gfp said:

More out with the old at Pilot -

https://www.reuters.com/business/pilot-energy-business-president-marketing-chief-out-shakeup-2024-01-30/

I have long avoided learning anything about energy trading, so I ask from ignorance, but can someone explain what the point of the energy trading operations were/are for Pilot?  Do all these changes signal that BRK is shutting down, or at least scaling back, the petroleum trading desk?

[Gamecock-YT]

9 hours ago, xo 1 said:

I have long avoided learning anything about energy trading, so I ask from ignorance, but can someone explain what the point of the energy trading operations were/are for Pilot?  

 

Goosing the Haslam's EBIT number

[yesman182]

10 hours ago, xo 1 said:

I have long avoided learning anything about energy trading, so I ask from ignorance, but can someone explain what the point of the energy trading operations were/are for Pilot?  Do all these changes signal that BRK is shutting down, or at least scaling back, the petroleum trading desk?

I assume so. Buffet has long said if he thought he could make money trading oil futures he wouldn’t need to operate a railroad that requires billions of capex. I assume that carries over to pilot as well. 

[ValueMaven]

Forest River made a $300M acquisition ... 

 

https://stnonline.com/news/starcraft-parent-company-forest-river-acquires-collins-bus/

[gfp]

1 hour ago, ValueMaven said:

Forest River made a $300M acquisition ... 

 

https://stnonline.com/news/starcraft-parent-company-forest-river-acquires-collins-bus/

 

Thanks for posting the article.  Strange that they would say this out loud (I'm sure not uncommon but probably illegal) - "Forest River and Starcraft agreed to stop making school buses in 2020, when it acquired REV Group’s competing shuttle bus business."

[yesman182]

@gfp how do you think Peter Liegl of Forest river gets the cash for that purchase. Obviously forest river makes a lot of money, but I doubt they keep 300M around for a potential purchase. It seems like Greg has implement more of a sweep account system. Do you think Peter calls Warren and ask for the money or does he call Greg? 

[gfp]

12 hours ago, yesman182 said:

@gfp how do you think Peter Liegl of Forest river gets the cash for that purchase. Obviously forest river makes a lot of money, but I doubt they keep 300M around for a potential purchase. It seems like Greg has implement more of a sweep account system. Do you think Peter calls Warren and ask for the money or does he call Greg? 

 

These days he would call Greg not Warren.  In the zirp years they might have just used a bank line but I think Omaha has been clear that they would prefer the subs come to BRK for cash instead of using high rate bank financing.  Greg is the guy all of these CEOs are dealing with (except Ajit).  I think he's doing a good job but not everyone is sold on the Greg Abel show.

[gfp]

Homeservices would really like the Supreme Court to help with their little issue -

https://news.bloomberglaw.com/health-law-and-business/berkshire-hathaway-unit-asks-high-court-to-review-antitrust-suit

[jbwent63]

I'm looking forward to tomorrow's 13-F filings....in particular if there are amendments to the 9/30 filing to remove the requested permission to not disclose a position, or if that permission is still granted. Is there any scuttlebutt as to which name it could be?

[gfp]

5 hours ago, jbwent63 said:

I'm looking forward to tomorrow's 13-F filings....in particular if there are amendments to the 9/30 filing to remove the requested permission to not disclose a position, or if that permission is still granted. Is there any scuttlebutt as to which name it could be?

 

There is no scuttlebutt on what it could be except that it almost certainly falls into the category "Banks, insurance and finance" on Berkshire's filings.  We couldn't figure out what it was by looking at the NAIC filings because it was hidden within the Harney Investment Trust.  

[DooDiligence]

I'd crap my pants if it was Nintendo.

[gfp]

1 minute ago, DooDiligence said:

I'd crap my pants if it was Nintendo.

Well he can buy Nintendo any time he wants and it won’t show up on a 13-F. 

[DooDiligence]

29 minutes ago, gfp said:

Well he can buy Nintendo any time he wants and it won’t show up on a 13-F. 

 

That'll save me a pair of underwear.

[jbwent63]

Still requesting confidential treatment.....dammit.

[bt1]

https://www.wsj.com/finance/stocks/warren-buffetts-berkshire-hathaway-trims-its-massive-stake-in-apple-1d577d8a?mod=hp_lead_pos2

"Berkshire sold about 1% of its Apple shares in the final three months of 2023, leaving it with a 5.9% stake in the iPhone maker worth about $167 billion on Wednesday, according to Dow Jones Market Data"

Edited February 14, 2024 by bt1

[Sweet]

2 hours ago, jbwent63 said:

Still requesting confidential treatment.....dammit.

Can’t remember the posters name, but there is a guy in the Citi thread who believes Buffett has been buying the stock.

[gfp]

2 minutes ago, Sweet said:

Can’t remember the posters name, but there is a guy in the Citi thread who believes Buffett has been buying the stock.

 

It is Dazel who thinks Warren Buffett is secretly adding to Citi despite Citi showing up in the 13F quarter after quarter.

[Parsad]

3 minutes ago, Sweet said:

Can’t remember the posters name, but there is a guy in the Citi thread who believes Buffett has been buying the stock.

 

Might be right.  Buffett has had a couple of meetings with Jane Fraser, CEO at Citi.  Cheers!

 

https://www.reuters.com/business/finance/warren-buffett-tells-citigroup-ceo-fraser-keep-going-with-overhaul-source-2024-01-20/

[fareastwarriors]

https://finance.yahoo.com/news/berkshire-sheds-holdings-mum-investment-213748123.html

 

Quote

In its third-quarter report in November, Berkshire hinted that its confidential investment may involve a bank, finance company or insurer because it had recently spent $1.2 billion on stock in that sector. It has yet to reveal where the money went.

 

[Hektor]

They also exited StoneCo, which is (was?) a Todd Combs position. Earlier last year, he also exited One97, which own s Paytm in India. Both have similarities with Alipay/WeChatPay.

[LC]

3 hours ago, Hektor said:

They also exited StoneCo, which is (was?) a Todd Combs position. Earlier last year, he also exited One97, which own s Paytm in India. Both have similarities with Alipay/WeChatPay.

 

I just sold my LEAPs as well (StoneCo) two days ago. Rode that one up from ~9->15 in shares, then LEAPs from there to like 18.50. Thanks, Todd.

Edited February 15, 2024 by LC

[ValueArb]

HEADLINE: SHOCKING NEWS! BUFFETT SELLS APPLE! READ ALL ABOUT IT! IN A STUNNING TURNAROUND THE WIZENED WIZARD OF INVESTING HAS TURNED ON TIM APPLE AND DECLARED HIS COMPANY MUSHY, BRUISED AND NO LONGER EDIBLE !

 

Body: Berkshire sells 10M out of 900M AAPL shares it owns or barely 1%.

[John Hjorth]

Ohh, please, stop!