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5 hours ago, KPO said:

This is kind of an interesting article:  https://www.cnbc.com/2024/05/31/warren-buffett-worried-about-huge-losses-in-booming-insurance-market.html

To the extent Berkshire desires exposure to cyber coverage I think I’d prefer it be through minority holdings, like Chubb and/or AIG.

It's an interesting market but it's hard to put bounds (especially upper bounds, of the aggregating type) concerning future development.

The market has hardened in a very unusual way, attracting a lot of capital but the market has softened ++ (price and contract terms) so who knows (with accuracy)?

cyber1.thumb.png.5607f828e23be9c82be424c672a40f85.png

Early to tell and maybe not significant but (anecdotally) there have been people around me (personal and commercial) who had to deal with security breaches (privacy violations and ransomware) with varying levels of consequences and for those who follow these developments, some ransomware activity appears to be on the rise:

cyber2.thumb.png.b04bbd19075b4b71553fae76060d0ef0.png

cyber3.thumb.png.1fc31eee1b095321b3ea96a7fbd498f8.png

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28 minutes ago, aws said:

Looks like over 3k volume too. Someone's algorithm made a $2b mistake? Better not be Citi again

 

There wasn't 3k of volume at the 185.10 price.  There wasn't really 3k of volume at all, since most 1 share volumes reported on A-shares are actually tiny fractional share purchases.  The stock is halted for the glitch and no shares will actually be transacted at 185.10

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6 hours ago, gfp said:

 

There wasn't 3k of volume at the 185.10 price.  There wasn't really 3k of volume at all, since most 1 share volumes reported on A-shares are actually tiny fractional share purchases.  The stock is halted for the glitch and no shares will actually be transacted at 185.10

 

I'm aware of that dynamic and I'm sure some trades will get busted, but it wouldn't be the first time large trade volumes went through at erroneous prices. On the flip side, the snap back to a real value is biting some not so savvy people who placed market orders during the halt. The top trade was 742k when fair value was more like 630k. I have no idea how many are full shares, but I've seen at least one screenshot of a market order fill for 648k a share by a guy who had nowhere near that amount in his account, but his broker allowed the trade. 

Edited by aws
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https://www.oxy.com/news/news-releases/occidental-and-bhe-renewables-form-joint-venture-to-commercialize-terralithium-extraction-technology/
 

For those that haven’t made the trip to the Salton Sea, it’s a wild and interesting place that happens to have on the order of 100 years of potential lithium supply for North America. This is a somewhat hidden Berkshire asset. If all goes well and lithium continues to be the long term source of EV energy that it is today, this could move the needle for Berkshire. 

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  • 2 weeks later...

This is rather insane. I hope it gets reversed by some clear headed judges. Are you aware of any other country that would have such a news item come up for a car insurance? In every country on Earth they'd laugh you out of the court-room, both the judges and the government.

 

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37 minutes ago, scorpioncapital said:

This is rather insane. I hope it gets reversed by some clear headed judges. Are you aware of any other country that would have such a news item come up for a car insurance? In every country on Earth they'd laugh you out of the court-room, both the judges and the government.

 

It got thrown out by the initial trial judge; this is an appeal of that initial ruling, so you're hoping it's not reversed. (IANAL but I presume that the fact that the district court judge didn't buy it is a good sign that GEICO's contract is not so sloppily written.)

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On 6/13/2024 at 2:25 PM, adesigar said:

https://www.foxbusiness.com/fox-news-auto/eighth-circuit-decide-should-car-insurance-cover-stds
 

I guess GEICO may have to increase insurance rates even more. 😂

 

 

Can you imagine being the lawyer that had to write this:

Attorneys for GEICO disagree. "The Auto Policy does not cover liability for injury caused by the transmission of a sexually-transmitted disease merely on the basis that a covered vehicle was used as a shelter for, or as the situs of, sexual activity," GEICO wrote in its brief. 

 

Or being the court reporter for this:

"It's foreseeable that people are going to have sex in the car, I mean, that's clearly foreseeable, right?" one of the judges asked. 

 

 

Kinda funny until you realize its ultimately just going to end up with much more restrictive language on automotive policies. 

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19 minutes ago, Eng12345 said:

 

 

Can you imagine being the lawyer that had to write this:

Attorneys for GEICO disagree. "The Auto Policy does not cover liability for injury caused by the transmission of a sexually-transmitted disease merely on the basis that a covered vehicle was used as a shelter for, or as the situs of, sexual activity," GEICO wrote in its brief. 

 

Or being the court reporter for this:

"It's foreseeable that people are going to have sex in the car, I mean, that's clearly foreseeable, right?" one of the judges asked. 

 

 

Kinda funny until you realize its ultimately just going to end up with much more restrictive language on automotive policies. 

 

TBF, that shifter knob's just asking for it.

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https://www.barrons.com/articles/buffett-sees-ice-cream-1477f391

 

Warren Buffett’s Candy Company Is Trying to Scoop the Competition

 

Warren Buffett has seen all kinds of mergers in his time, but here’s a sweet deal that’s a first even for him: See’s Candies is getting into ice cream. The iconic candy company, owned by Buffett’s Berkshire Hathaway , is launching a limited-time collaboration with McConnell’s Fine Ice Creams, a 75-year old Santa Barbara, Calif.-based company, starting this Friday—just days before July, which is national ice cream month.

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15 hours ago, Hektor said:

https://www.barrons.com/articles/buffett-sees-ice-cream-1477f391

 

Warren Buffett’s Candy Company Is Trying to Scoop the Competition

 

Warren Buffett has seen all kinds of mergers in his time, but here’s a sweet deal that’s a first even for him: See’s Candies is getting into ice cream. The iconic candy company, owned by Buffett’s Berkshire Hathaway , is launching a limited-time collaboration with McConnell’s Fine Ice Creams, a 75-year old Santa Barbara, Calif.-based company, starting this Friday—just days before July, which is national ice cream month.

 

McConnell's is fine ice cream, although I try to avoid anything with sugar in it these days.

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On 6/25/2024 at 8:05 AM, boilermaker75 said:

 

McConnell's is fine ice cream, although I try to avoid anything with sugar in it these days.

 

Never been to a McConnells...but, collaborations are generally good. Broadens the customer base by a little bit.

 

I'm surprised See's didn't do a collaboration with Dairy Queen..... keep it in the family.

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https://www.wsj.com/finance/warren-buffett-gives-us-a-preview-of-his-will-419ad46d

 

Warren Buffett, who owns nearly $130 billion in Berkshire Hathaway stock, will direct his fortune into a new charitable trust overseen by his children.

 

In an interview with The Wall Street Journal, Buffett—the chairman and chief executive of Berkshire Hathaway said that after his death nearly all of his remaining wealth will go to a new charitable trust overseen by his daughter and two sons.

 

The legendary investor also made clear his giving to the Bill & Melinda Gates Foundation, to which he has donated billions, will come to an end.  “The Gates Foundation has no money coming after my death,” Buffett said.

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3 minutes ago, Hektor said:

https://www.wsj.com/finance/warren-buffett-gives-us-a-preview-of-his-will-419ad46d

 

Warren Buffett, who owns nearly $130 billion in Berkshire Hathaway stock, will direct his fortune into a new charitable trust overseen by his children.

 

In an interview with The Wall Street Journal, Buffett—the chairman and chief executive of Berkshire Hathaway said that after his death nearly all of his remaining wealth will go to a new charitable trust overseen by his daughter and two sons.

 

The legendary investor also made clear his giving to the Bill & Melinda Gates Foundation, to which he has donated billions, will come to an end.  “The Gates Foundation has no money coming after my death,” Buffett said.


I’m not surprised. I guess Warren changed his mind on what he thinks of Bill…

 

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11 hours ago, longlake95 said:


I’m not surprised. I guess Warren changed his mind on what he thinks of Bill…

 

The Bill & Melinda Gates Foundation Trust is receiving Class B shares worth about $4 billion as of Thursday’s closing price, while the Susan Thompson Buffett Foundation is receiving about $400 million.

 

 

Don't you love "journalism"?

 

Tell the whole story WSJ. I'm paying for it. 

Edited by Eng12345
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