Buffett/Berkshire - general news

[Ulti]

https://brklyninvestor.com/2024/11/06/cash/
 

yay .. excellent read

[fareastwarriors]

FT: Warren Buffett’s Apple share sales and cash pile spark intrigue over motives

[Xerxes]

Buffett had said on record that he has no interest in Occidental.
 

Yet given his view on inflation and the significance amount of liquidation of Apple and Bank of America positions, the pausing of the passive weekly purchases of Occidental, it is possible that Occidental may indeed the target.  
 

The M&A activity should be picking up across the board with the new regime in Washington.
 

[sleepydragon]

1 hour ago, Xerxes said:

Buffett had said on record that he has no interest in Occidental.
 

Yet given his view on inflation and the significance amount of liquidation of Apple and Bank of America positions, the pausing of the passive weekly purchases of Occidental, it is possible that Occidental may indeed the target.  
 

The M&A activity should be picking up across the board with the new regime in Washington.
 

if he has to get regulatory approval to buy up to 50% of shares, would be he allowed to buy the whole company? Also, if he want to buy the whole company, won’t he be buying more now? 

[Xerxes]

1 hour ago, sleepydragon said:

if he has to get regulatory approval to buy up to 50% of shares, would be he allowed to buy the whole company? Also, if he want to buy the whole company, won’t he be buying more now? 

Any offer for the remaining 70% would have always been subject to regulatory approval. It is no different than had he owned none of it, and than made an offer. Like he did with Allenghany.  
 

 

Berkshire owns 30% or so; enough to have influence to block any major making a move toward it, for 3 years now. Maybe that was the reason for the passive stake. 

[LC]

3 hours ago, Xerxes said:

Berkshire owns 30% or so; enough to have influence to block any major making a move toward it, for 3 years now. Maybe that was the reason for the passive stake. 

it does scream classic Buffett to strike some deal where OXY pays him a percentage to accumulate enough stock to block any takeovers. 

[scorpioncapital]

well he could sell his chevron stake and own 100% of oxy, I would imagine the total exposure to oil would be similar yet he'd control 100% of the cashflows. 

 

[sleepydragon]

Crude down 3% , OXY up almost 1%… can someone explain why is that?

[Munger_Disciple]

Nothing new but a good article in WSJ:

https://www.wsj.com/finance/investing/does-warren-buffett-know-something-that-we-dont-48fabc9d

[Charlie]

2 hours ago, sleepydragon said:

Crude down 3% , OXY up almost 1%… can someone explain why is that?

Earnings and investor conference call are coming tomorrow.

So people are buying in the hope of good news. 

 

[John Hjorth]

The Berkshire 2024 EOP Q3 13-F/HR is now available on the SEC website, and on Dataroma, for those interested.

[DooDiligence]

The curse of the noid is lifted.

 

 

Edited November 14, 2024 by DooDiligence

[gfp]

Sorry if this was already posted - long letter from Warren

https://www.berkshirehathaway.com/news/nov2524.pdf

 

"

By not stepping on any banana peels, I now remain in circulation at 94 with huge sums in savings – call these units of deferred consumption – that can be passed along to others who were given a very short straw at birth."

Edited November 25, 2024 by gfp

[73 Reds]

8 minutes ago, gfp said:

Sorry if this was already posted - long letter from Warren

https://www.berkshirehathaway.com/news/nov2524.pdf

 

"

By not stepping on any banana peels, I now remain in circulation at 94 with huge sums in savings – call these units of deferred consumption – that can be passed along to others who were given a very short straw at birth."

Thanks for posting.  There's a lot there under the surface.

[longlake95]

unwavering - class act 

[John Hjorth]

1 hour ago, gfp said:

Sorry if this was already posted - long letter from Warren

https://www.berkshirehathaway.com/news/nov2524.pdf

 

"

By not stepping on any banana peels, I now remain in circulation at 94 with huge sums in savings – call these units of deferred consumption – that can be passed along to others who were given a very short straw at birth."

 

It's an awesome piece!, written by a man of high age.

 

However, I think it perhaps is in need of some conceptual backdrop, to fully realize and to grasp everything here : 'We all, thereby also you, stand with one foot in the grave, so don't also place the other foot on a banana shell.'

[villainx]

"They are now 71, 69 and 66."

 

!

[villainx]

Was talking about BRK.  Or why I don't have any SP500 type holding, and manage a portfolio of stocks instead.  I brought up my portfolio while not 500 companies, is diverse enough to kinda be SP500 lite.  And besides, a large slug of that was in BRK, which is kinda like SP500 but with a big cash pile as a safety blanket. 

 

Regardless of everything, seems like BRK is in pretty good position.  Fair to smidge overvalued?  Operationally seems ok.  Plus a ton of cash.  

[Pauly]

So if Warren and Susie had kept their original amount of shares from 2004 (508,998), they would be worth about $367 billion today. That would be 24th in the S&P 500 and more than the market cap of Bank of America. Amazing.

[DooDiligence]

2 hours ago, gfp said:

Sorry if this was already posted - long letter from Warren

https://www.berkshirehathaway.com/news/nov2524.pdf

 

"

By not stepping on any banana peels, I now remain in circulation at 94 with huge sums in savings – call these units of deferred consumption – that can be passed along to others who were given a very short straw at birth."

 

 

[Munger_Disciple]

3 hours ago, gfp said:

Sorry if this was already posted - long letter from Warren

https://www.berkshirehathaway.com/news/nov2524.pdf

 

"

By not stepping on any banana peels, I now remain in circulation at 94 with huge sums in savings – call these units of deferred consumption – that can be passed along to others who were given a very short straw at birth."

 

Great letter from Warren; oozes sincerity, wisdom, and class! 

[73 Reds]

2 minutes ago, wescobrk said:

I love the letter but disagree with not the ability to nothing with 10 million.

That has to be spending, at a minimum, 500k a year to not touch the principal and if they want to lower the 10 millon before they die they probably need to spend closer to 800k a year.

im pretty frugal so I wouldn’t even know how to spend that and adhere to what he said in the letter to avoid look at me living.

Buffett is a hero of mine but he sounds out of touch and elitist with this 10 million he keeps taking about .

I think it is all relative and his kids were not poor to begin with.  Chances are the $10 million would not affect their lives in any way.

[Parsad]

8 hours ago, gfp said:

Sorry if this was already posted - long letter from Warren

https://www.berkshirehathaway.com/news/nov2524.pdf

 

"

By not stepping on any banana peels, I now remain in circulation at 94 with huge sums in savings – call these units of deferred consumption – that can be passed along to others who were given a very short straw at birth."

 

One of one!  There will never be another like him and the world will be worse off without him.

 

I continue to be in awe of his intelligence, humility and wisdom!  Cheers!

[Eldad]

The grandchildren, who the hell knows what they are thinking. 
 

That was my favorite part. 
 

Enigmatic as always to me. What actually motivates him? Promises and shared values he had with a wife with whom he was separated. Lots of socialist ideas all mixed up with individualistic capitalism. 
 

It’s his money and I’m happy he is doing what he thinks is best. 
 

Edited November 25, 2024 by Eldad

[adesigar]

I don't know what but something about the letter made me feel like either he is planning to retire next year or something else is wrong. Could be why he has raised cash to over 325B.