Buffett/Berkshire - general news

[Spooky]

On 4/4/2025 at 7:34 PM, Hektor said:

 

https://finance.yahoo.com/news/berkshire-dismisses-false-reports-buffett-191724855.html

 

Berkshire dismisses 'false' reports on Buffett comments after Trump shares video

 

(Reuters) - Berkshire Hathaway said on Friday that reports on social media regarding comments allegedly made by its chairman are "false," after Donald Trump's account on Truth Social shared a video suggesting that Warren Buffett endorsed the U.S. president's economic policies.

 

The video, posted by a user named AmericanPapaBear, said Trump was intentionally "crashing" the market to force the U.S. Federal Reserve to lower interest rates while making stocks more affordable to middle-class investors.

 

"This is why Warren Buffett just said Trump is making the best economic moves he's seen in 50 years," the video said.

Berkshire said in a statement: "There are reports currently circulating on social media (including Twitter, Facebook and Tik Tok) regarding comments allegedly made by Warren E. Buffett. All such reports are false."

 

Buffett told CNBC that it was important to quickly knock down misinformation, and that he is not talking to anybody about the markets, the economy and tariffs between now and Berkshire's annual shareholder meeting on May 3 in Omaha, Nebraska.

 

 

Can't wait for the annual meeting this year.

 

[Spooky]

On 4/4/2025 at 3:34 AM, nwoodman said:

Couldn’t resist, not perfect, but I really liked your analogy

 

 

Love the post and the photo! This is exactly how I feel. Got 25% of my net worth in BRK.

[ValueMaven]

 

Do we crash on Monday?  And if so, what are you buying?  

[Sinbius]

I sell BAC and convert to euro....you will have a recession  good luck...

 

‘They’re terrified:’ Detroit-area Stellantis workers brace for layoffs after tariffs – The Oakland Press 

 

 

.... the beginning...

Edited April 6, 2025 by Sinbius

[crs223]

@Parsad please delete tariff posts

[Parsad]

50 minutes ago, crs223 said:

@Parsad please delete tariff posts

 

Done.  There were about 20 of them...stop ruining threads guys...keep the tariff and political talk to those threads.  Cheers!

[Hektor]

https://www.bloomberg.com/news/articles/2025-04-09/hackers-breach-berkshire-hathaway-s-netjets-steal-client-data

 

Hackers Breach Berkshire Hathaway’s NetJets, Steal Client Data

• Private jet company says the breach didn’t impact operations
• ‘Limited amount of data’ stolen from company’s ‘owners’

NetJets Inc., a private jet company owned by billionaire investor Warren Buffett’s Berkshire Hathaway, is investigating a data breach after a hacker stole information about some of its clients, according to two people familiar with the incident and an email seen by Bloomberg News.

 

The attacker successfully “phished” an employee to steal their work account credentials and used that access to steal more information from NetJet’s systems sometime last month, according to one of the people, who asked not to be named because they were not authorized to talk about the breach.

 

A NetJets spokesperson confirmed the breach, saying the company “recently detected and addressed a security incident involving an employee’s account.”

 

“We found that a limited amount of data for a very small number of owners was obtained, and we contacted each of these owners,” the spokesperson said. “The activity did not affect our operations or our ability to service our customers.”

[Eldad]

You think he bought anything? 
 

I realize the turmoil could be far from over, but I’m not really confident he pulled the trigger in a big way. 
 

I was having to hold my nose and buy stuff that wasn’t really even cheap yet so I could see WB skipping the whole thing. 

[gfp]

1 minute ago, Eldad said:

You think he bought anything? 
 

I realize the turmoil could be far from over, but I’m not really confident he pulled the trigger in a big way. 
 

I was having to hold my nose and buy stuff that wasn’t really even cheap yet so I could see WB skipping the whole thing. 

 

 

Warren's been around a few of these.  He knows we're closer to the beginning than the "bottom."  That said, he may nibble on his old stand buys like OXY.  We'll see.  I doubt he bought much of anything.  Chubb was attractive again below 270 but it was gone in a flash!

[Hsmpanl]

23 minutes ago, gfp said:

 

 

Warren's been around a few of these.  He knows we're closer to the beginning than the "bottom."  That said, he may nibble on his old stand buys like OXY.  We'll see.  I doubt he bought much of anything.  Chubb was attractive again below 270 but it was gone in a flash!

I tend to agree with this sentiment. If for some reason this pullback is over and it's nothing but marching higher from here then I certainly missed an opportunity by just nibbling. I tend to think there will be more shoes to drop and would rather keep a reasonable allocation to cash until better opportunities appear. I imagine Berkshire did the same.

[sleepydragon]

WEB's phone is probably ringing none stop and he didn't have a chance to put in any order yet. Hopefully he get a whole company to buy

[gfp]

BASF not happy with Duracell ->

https://www.reuters.com/legal/basf-sues-berkshires-duracell-allegedly-stealing-battery-secrets-2025-04-09/

[gfp]

We all know Berkshire as a mostly domestic enterprise, but this WSJ article had a nice visual comparison this morning ->

 

https://www.wsj.com/economy/trade/us-exports-services-trump-tariff-calculations-fe481e2b?mod=WSJ_home_supertoppermiddle_pos_4

 

[DooDiligence]

I wish they wouldn't have shown that.

Here's to hoping no one reads any more.

[Spekulatius]

I imaging this to be Warren  Buffett  raising cash:

 

Edited April 12, 2025 by Spekulatius

[Eldad]

1 hour ago, Spekulatius said:

I imaging this to be Warren  Buffett  raising cash:

 

Haha. He needs some lubrizol grease on that bad boy. Imagining a castle siege sounding like a loud flock of geese for months on end.
 

“Ok ok we surrender stop the noise!!!”

[LC]

https://www.denverpost.com/2025/04/11/norguard-insurance-workers-compensation-colorado-jury/

[Cigarbutt]

11 hours ago, LC said:

https://www.denverpost.com/2025/04/11/norguard-insurance-workers-compensation-colorado-jury/

Short version: NorGUARD 'deserved' a financial penalty, an appeal will be made and, if history is any guide, the amount owed will be much much less.

-----

Longer version (optional read)

There is strong evidence that inpatient rehab results in better results (pain, functional recovery) in such brain hemorrhage cases and NorGUARD put itself in a (legally) vulnerable position.

From a certain point of view (long BRK), the amount awarded may seem outrageous.

But one could say that (excess) meritocracy comes with an (excessive) price tag. Lower court verdicts are influenced by the people (populist) instincts (growing inequality etc etc) and now with social media and growing case law at lower courts supporting such high awards. It's just another channel for the growing resentment to be manifested..

Ways to reform:

-Establish stricter criteria versus the capacity of people (and their very capable lawyers) to sue their workers' comp insurer in the context of acting-in-bad-faith cases. Historically, the foundation of workers' comp insurance has been based on the premise that, in exchange for such coverage, people lose a significant part of their capacity to sue their employer or insurer.

-Establish a framework that can be applied (including in lower courts) so that aggravated and punitive damages are capped with some kind of 'reasonable' multiple.

But then, at the society level, adults in the room may need to remember that the resentment will not disappear if one simply caps it with a set of 'rules'. Then, some people wired in a certain manner may even find ways to channel that resentment against institutions at large. 'We, the people' will get there somehow. Anyways.

-----

Another interesting aspect in that trial is the use of artificial intelligence (used by the plaintiffs) in order to 'predict' the odds of winning and the likely amounts obtained, thereby improving the negotiating leverage at pre-trial 'meetings'. It seems artificial intelligence can also be used for other aspects like jury selection. Interesting unless, of course, if you sit on the other side.

Edited April 13, 2025 by Cigarbutt

[KPO]

https://www.businesswire.com/news/home/20250415280744/en/HomeServices-of-America-Announces-Leadership-Transition
 

You have to wonder if the rumored sale and this move are related?  If so, why make the old CEO chairman vs. simply showing him the door? 

[Buffett_Groupie]

First time, I have heard of BRK trading in Canadian dollars beginning Feb 6, 2025: https://finance.yahoo.com/quote/BRK.TO/ 

[ValueMaven]

'My legacy is peanuts' -- there will NEVER been another WEB

 

 

[schin]

On 4/12/2025 at 4:42 PM, Spekulatius said:

I imaging this to be Warren  Buffett  raising cash:

 

 

"Incoming...."  I hope his calculations is right...  It'll either be famous or infamous....  Because that's tailor-made for a "Darwin Award".

[schin]

On 4/16/2025 at 8:33 PM, ValueMaven said:

'My legacy is peanuts' -- there will NEVER been another WEB

 

 

 

@ValueMaven - If his legacy is peanuts, what about us .... that are the other 99%.... Our legacy are the peanut shells left on the floor...... *pause* at a Hooters bar.... 

[jbwent63]

On 4/16/2025 at 4:00 PM, Buffett_Groupie said:

First time, I have heard of BRK trading in Canadian dollars beginning Feb 6, 2025: https://finance.yahoo.com/quote/BRK.TO/ 

 

Berkshire Hathaway CDR to trade on TSX

 

2025-02-03 19:32 ET - New Listing

 

The Toronto Stock Exchange reports that it has approved the original listing of Canadian depositary receipts (CDRs) issued by Canadian Imperial Bank of Commerce. According to the TSX, Berkshire Hathaway CDR (CAD Hedged) will be listed and posted for trading on the TSX at the open on Feb. 5, 2025. There will be 9.8 million CDRs issued and outstanding, and 50,000 CDRs reserved for issuance. The CDRs will trade under the symbol BRK, in Canadian dollars and with Cusip No. 08465W 10 0. The designated market-maker is CIBC World Markets Inc., and the transfer agent and registrar is TSX Trust Company at its principal office in Toronto.

The TSX reports that the CDRs are securities that represent a beneficial ownership interest in a pool of shares of common stock of Berkshire Hathaway Inc. The underlying shares are listed on the New York Stock Exchange under symbol BRK.B. The CDRs are designed to provide Canadian investors with a fractional ownership interest in the underlying shares in Canadian dollars with a currency hedge. The CDRs have been listed on Cboe Canada since Dec. 1, 2021, under the symbol BRK.

Each CDR is equivalent to owning a fractional interest in the underlying shares. This is represented by the CDR ratio. The CDR ratio is adjusted on a daily basis to provide a notional currency hedge. As the ratio increases or decreases, the number of underlying shares represented by one CDR increases or decreases. So, if the Canadian dollar strengthens, the CDR will represent a larger number of underlying shares. Conversely, if the Canadian dollar weakens, the CDR will represent a smaller number of underlying shares.

For example, if on a given day a CDR holder owns 100 CDRs and the CDR ratio is 0.10 on that day, then the CDR holder's interest in the pool provides entitlements that are based on the entitlements that would arise from beneficially owning 10 of the applicable underlying shares with a notional hedge into Canadian dollars of the market value in the applicable foreign currency in which such underlying shares are listed for trading on their principal securities exchange or other trading market. The CDR ratio for each series of CDRs will be calculated daily and will be available at the CDR website under the CDR directory tab.

The TSX notes that CDR investors will be entitled to vote the underlying shares through CIBC's on-line voting portal. CIBC Mellon Trust Company, as the depositary, will then vote the underlying shares in accordance with the instructions provided on a commercially reasonable best-efforts basis. The number of underlying shares that each CDR holder can vote will depend on how many CDRs they hold and how many underlying shares each CDR reflects.

Dividends paid on the underlying shares will be passed through to CDR investors in Canadian dollars when received by the depositary. The record date for determining which CDR holders are entitled to receive any dividends in respect of CDRs will be the record date set by the relevant underlying issuer. The depositary will notify CDR holders of any record dates via the CDR website under the corporate actions tab.

The deposit agreement sets out the terms of CDR holders' undivided co-ownership interests in the pool of underlying shares held for the relevant series of CDRs. Each CDR represents an equal undivided direct beneficial interest in the underlying share pool. CDR holders do not have any ownership interest in any particular underlying shares or number or fraction thereof, and CDR holders will not be considered to be shareholders of the underlying issuer for the purposes of Canadian or U.S. securities laws.

For more information, see CIBC's short form base shelf prospectus dated Aug. 15, 2023, as amended by amendment No. 1, dated May 24, 2024, and amendment No. 2, dated Jan. 23, 2025, and prospectus supplement No. 1 dated Aug. 15, 2023, which are available on SEDAR+. Reference should be made to the deposit agreement dated as of July 16, 2021 (as amended), and amended and restated with effect as of May 28, 2024, among CIBC and CIBC Mellon, as the custodian, for the complete attributes of the CDRs.

[bizaro86]

Does anyone have an opinion on whether the CDR would be a US situs asset for US estate tax purposes? I'm a Canadian and am wanting to make sure I stay under the limit. If this doesn't count it might be worth it for non-registered BRK shares. Otherwise I don't see much if any advantage...