Buffett/Berkshire - general news

[scorpioncapital]

Interesting. I thought insurance policy terms where standardized by the rating company like Verisk - https://www.verisk.com/siteassets/media/downloads/iso/isos-policy-forms.pdf

 

Maybe someone should sue them! 

[CassiusKing1]

Hopefully Warren is revving up the buyback machine.

[Eng12345]

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. 

[DooDiligence]

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.

[Xerxes]

From Bloomberg

 

 

[xboojum]

https://www.seattletimes.com/seattle-news/climate-lab/judge-orders-bnsf-to-pay-wa-tribe-400m-for-trespass/

 

BNSF found to have violated terms of an easement regarding access to Snohomish tribal land, fined $400 million. (BNSF apparently admitted the violation but didn't think they should pay that much.)

[Hektor]

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.

[Munger_Disciple]

Pacificorp paid out another $150mm. Total payout to-date is $1 billion.

 

https://finance.yahoo.com/news/warren-buffetts-pacificorp-reaches-150-214105974.html

[DooDiligence]

Wonder if BRK insured this too?

 

https://www.ktiv.com/2024/06/24/train-bridge-north-sioux-city-partially-collapsed-rising-water/?outputType=amp

[boilermaker75]

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.

[schin]

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.

[Hektor]

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.

[longlake95]

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…

 

[LC]

I guess the "giving pledge" can be expanded to "I pledge to give all my money to my kids"  

[Eng12345]

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 June 28, 2024 by Eng12345

[adesigar]

From what I recall Buffett believed more in Melinda gates for the philanthropy than Bill Gates. With her gone it makes sense that he doesn’t want to give the rest of his money to the Bill and Melinda gates foundation. Also his kids can probably handle it better now than they would have been able to almost 20 years ago. 

[longterminvestor]

Its all in the letters written in 2006, 2012, and 2021.  You don't need to have a reported parrot it back to you for a fee, just read what's already there.  One of the conditions of Mr. Buffett's "irrevocable" gift to Bill & Melinda Gates Foundation (BMG) was 1 of them is actively involved.  So when BMG broke up because of divorce, and Melinda started her own foundation, this change was inevitable.  Maybe one of the reasons why Gates marriage took as long as it did to break up, because of Mr. Buffett's pledge?  (Pure speculation)  

 

This just further shows how much thought and consideration of the future Mr. Buffett puts into his actions.  His actions had huge implications with simple instructions.  This is the model I strive for every day.  Simple to understand and well thought through to the end.  Its a work of art.  

 

LETTERS

https://www.berkshirehathaway.com/donate/webdonat.html

FORTUNE ARTICLE ATTACHED

fortune071006.pdf

[schin]

On 6/28/2024 at 8:34 AM, longlake95 said:

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

 

 

It's crazy how much they raved about each other and Warren backpedalling from Bill like he and David Sokol.

 

[Gamecock-YT]

he's a reputation risk now

[John Hjorth]

14 hours ago, longterminvestor said:

Its all in the letters written in 2006, 2012, and 2021.  You don't need to have a reported parrot it back to you for a fee, just read what's already there.  One of the conditions of Mr. Buffett's "irrevocable" gift to Bill & Melinda Gates Foundation (BMG) was 1 of them is actively involved.  So when BMG broke up because of divorce, and Melinda started her own foundation, this change was inevitable.  Maybe one of the reasons why Gates marriage took as long as it did to break up, because of Mr. Buffett's pledge?  (Pure speculation)  

 

This just further shows how much thought and consideration of the future Mr. Buffett puts into his actions.  His actions had huge implications with simple instructions.  This is the model I strive for every day.  Simple to understand and well thought through to the end.  Its a work of art.  

 

LETTERS

https://www.berkshirehathaway.com/donate/webdonat.html

FORTUNE ARTICLE ATTACHED

fortune071006.pdf 6.95 MB · 14 downloads

 

Related to the above very nice post by @longterminvestor, source LinkedIn, June 29^th 2024 :

 

Edited June 30, 2024 by John Hjorth

[Spooky]

Any recent news driving the share performance lately? Haven't found anything but this mini value / small cap rotation has been excellent for my portfolio.

[Kizion]

1 hour ago, Spooky said:

Any recent news driving the share performance lately? Haven't found anything but this mini value / small cap rotation has been excellent for my portfolio.

safe heaven for index/mag7 investors maybe 

[gfp]

1 hour ago, Spooky said:

Any recent news driving the share performance lately? Haven't found anything but this mini value / small cap rotation has been excellent for my portfolio.

 

Definitely seems to be a rotation out of the recent mega cap winners and into everything else.  This is just how Berkshire's stock moves though.  Flat for a long time and then it rips to the upside and then it's back to flat for a long time.  My theory for years was that people sold covered calls against their BRK position and when those strikes start getting violated they buy the calls back in rather than pay the tax on getting their stock called.

[adesigar]

Hope part of it is Buffett doing a large buyback.

[Munger_Disciple]

30 minutes ago, adesigar said:

Hope part of it is Buffett doing a large buyback.

 

I highly doubt that.