sleepydragon Posted January 3 Posted January 3 5 minutes ago, rogermunibond said: this was many years ago , it was a small company that owned a lot of lands in texas and they found oils
sleepydragon Posted January 3 Posted January 3 6 minutes ago, rogermunibond said: this was many years ago , it was a small company that owned a lot of lands in texas and they found oils
Whensthepaintdry? Posted January 3 Posted January 3 @sleepydragon could it be SOC? It looks like it has just about doubled since that time.
sleepydragon Posted January 3 Posted January 3 8 minutes ago, Whensthepaintdry? said: @sleepydragon could it be SOC? It looks like it has just about doubled since that time. I didnt find any article from barrons on SOC though
Whensthepaintdry? Posted January 3 Posted January 3 I didn’t realize the Barron’s comment and the comment about Munger finding a new investment at 99 was related.
Whensthepaintdry? Posted January 3 Posted January 3 (edited) After re reading it i don’t think the Barron’s investment is related to the investment he made at 99. Unless the translation is off. Who knows I was wondering the same. SOC showed up in Li Lu’s last filing. It is definitely hated right now and has doubled. Edited January 3 by Whensthepaintdry?
gfp Posted January 3 Posted January 3 (edited) Charlie mentioned two barrons-sourced investments. The one that he exited with $80m to give to Li Lu was Tenneco and the one at age 99 was the one that he saw double before his death and his heirs still hold. Edited January 3 by gfp
Monsieur_dee Posted January 3 Posted January 3 I don't know think it would be SOC because it would have doubled after his passing. Curious what he bought, considering he doesn't swing often. PDD ?
WFF Posted January 3 Posted January 3 6 hours ago, Whensthepaintdry? said: After re reading it i don’t think the Barron’s investment is related to the investment he made at 99. Unless the translation is off. Who knows I was wondering the same. SOC showed up in Li Lu’s last filing. It is definitely hated right now and has doubled. My understanding is that the latest at 99 was not from Barrons. SOC could be up Munger’s wheelhouse, he understand oil and law/regulations.
gfp Posted January 6 Posted January 6 https://finance.yahoo.com/news/us-regulator-sues-berkshire-unit-140627825.html
Pellom Posted January 6 Posted January 6 On 1/3/2025 at 9:42 AM, sleepydragon said: According to Li Lu, when Munger is 99 years old, he found an idea reading Barron’s and bought a stock that everyone hated and politically incorrect to buy, and the stock has doubled. Any guess what it could be? Another translation I saw says it was a coal stock. My guess is it's Alpha Metallurgical Resources - it doubled in roughly the same timeframe described, and Mohnish Pabrai and Guy Spier bought shares in their funds shortly thereafter.
73 Reds Posted January 6 Posted January 6 2 hours ago, gfp said: https://finance.yahoo.com/news/us-regulator-sues-berkshire-unit-140627825.html Hmm, what's next - is the government going to start suing landlords who rent to tenants who can't afford the rent?
gfp Posted January 6 Posted January 6 48 minutes ago, 73 Reds said: Hmm, what's next - is the government going to start suing landlords who rent to tenants who can't afford the rent? I don't know but we just had to turn down a prospective tenant who applied but couldn't afford the apartment and I was sort of worried he would come back with some discrimination stuff. Dude put his Mother down as his only reference LOL... My first thought was to forward him this article and explain how irresponsible it is for a landlord to trap a tenant in a contract that can't afford but luckily that is my wife's department and I fix the toilets where my strengths lie.
John Hjorth Posted January 6 Posted January 6 3 minutes ago, gfp said: I don't know but we just had to turn down a prospective tenant who applied but couldn't afford the apartment and I was sort of worried he would come back with some discrimination stuff. Dude put his Mother down as his only reference LOL... My first thought was to forward him this article and explain how irresponsible it is for a landlord to trap a tenant in a contract that can't afford but luckily that is my wife's department and I fix the toilets where my strengths lie. I can't stop laughing now!
73 Reds Posted January 6 Posted January 6 1 minute ago, gfp said: I don't know but we just had to turn down a prospective tenant who applied but couldn't afford the apartment and I was sort of worried he would come back with some discrimination stuff. Dude put his Mother down as his only reference LOL... My first thought was to forward him this article and explain how irresponsible it is for a landlord to trap a tenant in a contract that can't afford but luckily that is my wife's department and I fix the toilets where my strengths lie. LOL, the irony is when a landlord leases to tenants who can't afford the rent, the landlord is only creating problems for himself. But to the very issue involving Clayton Homes, there is no telling what the buyer might have represented in its financing application or even verbally (i.e., "I'm getting a big raise starting next week"). Home owners who default on their mortgages have many more legal options than defaulting tenants, who can often be summarily removed even if they have a valid defense to an eviction but no money to cover the rent.
gfp Posted January 9 Posted January 9 Not sure where to post this but I found it entertaining and it is a well told narrative of an early 80's Berkshire Hathaway arbitrage investment. Didn't want to put it in 'Buffett's early investments' since that is somebody else's book. This is a free article but the substack offers a subscription. Not a recommendation to pay up for a sub. https://dirtcheapstocks.substack.com/p/how-warren-buffett-earned-a-39-irr?utm_source=post-email-title&publication_id=2329765&post_id=154492215&utm_campaign=email-post-title&isFreemail=true&r=oqhe5&triedRedirect=true&utm_medium=email
WFF Posted January 10 Posted January 10 With the fire in LA, what can we expect the hit to the insurance business? Aside from GEICO, is the exposure pretty limited? Berkshire has exited the home insurance market in California, so we should be fine there. There is probably a hit with small business insurance as well. But how about reinsurance? Has anyone looked into this?
ValueMaven Posted January 10 Posted January 10 (edited) Mercury General is getting crushed right now .. down -25%. They are a very large auto insurance, with very sizable CA exposure and the CEO is well over 100 years old at this point (he owns 45% of O/S). Seems like it would be a great acquisition for GEICO, given the near-term distress. Anyone have thoughts on this? Edited January 10 by ValueMaven
WFF Posted January 11 Posted January 11 https://thehill.com/homenews/state-watch/5079152-california-wildfires-insurance/ So does this mean that the ones the insurer has cancel recently are now stuck with the policy and have to payout?
WFF Posted January 11 Posted January 11 7 hours ago, WFF said: https://thehill.com/homenews/state-watch/5079152-california-wildfires-insurance/ So does this mean that the ones the insurer has cancel recently are now stuck with the policy and have to payout? The good news as I check, Berkshire has limited exposure it seems. With perhaps Three, and GEICO affected, not sure about policy exposures given not everyone will have comprehensive car insurance.
fareastwarriors Posted January 11 Author Posted January 11 WSJ: Warren Buffett Prepares His Middle Child for the Job of a Lifetime
LC Posted January 11 Posted January 11 1 hour ago, fareastwarriors said: WSJ: Warren Buffett Prepares His Middle Child for the Job of a Lifetime Oh boy. From playing dress-up sheriff to dress-up chairman? Warren is a great investor but his succession planning never struck me as outstanding.
sleepydragon Posted January 11 Posted January 11 1 minute ago, LC said: Oh boy. From playing dress-up sheriff to dress-up chairman? Warren is a great investor but his succession planning never struck me as outstanding. that’s not what I concluded from reading this story. Howie is a “do-er”. Takes initiatives and get things done. Who else you know traveled to a war zone a dozen times. He’s compassionate and full of passion, and is responsible.
Munger_Disciple Posted January 11 Posted January 11 (edited) This was a surprise for me: Howie says: Berkshire should continue holding annual meetings at which the leadership takes questions at length from shareholders. "One hundred percent, absolutely. I just hope I can do it and Greg can do it for eight hours like he does.” So Howie will be on the podium with Greg & Ajit post-Warren taking questions from shareholders. Before this, I thought it would just be Greg & Ajit. Edited January 11 by Munger_Disciple
rohitc99 Posted January 11 Posted January 11 1 hour ago, LC said: Oh boy. From playing dress-up sheriff to dress-up chairman? Warren is a great investor but his succession planning never struck me as outstanding. I think warren mentioned he will be the guardian of the culture and maybe his legacy ? not an operating manager per se. So not a true successor in that sense and with the buffett family stock going to charities, the family will not exert control in that manner. Its worked out for some of the other companies such as walmart. maybe it will in berkshire too
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