gfp Posted June 30, 2018 Share Posted June 30, 2018 One of the key points is that all of these re-powering deals (NextEra is doing a lot of them as well) are gaining eligibility to re-start the production tax credits with today's date. It's a substantial enough rebuild/replacement that it basically counts as a new wind farm after you're getting closer to the end of your original production tax credit period for the old equipment. Also, of course, the new equipment is much larger and generates more power on land you already have control of, infrastructure already built, etc.. - and because of the phase down of tax credits, 2018 is the year you will see the equipment ordered for almost all of the next several years of projects Repowering order from PacifiCorp to Vestas Wind Systems. Quite amazing that it's optimal to scrap nacelles and blades after only approx. 11 years of operation, to get better performance. It says a lot about how the technology in this industry is advancing over time. [Mentioned by Uccmal before here on CoBF.] Link to comment Share on other sites More sharing options...
Cigarbutt Posted June 30, 2018 Share Posted June 30, 2018 One of the key points is that all of these re-powering deals (NextEra is doing a lot of them as well) are gaining eligibility to re-start the production tax credits with today's date. It's a substantial enough rebuild/replacement that it basically counts as a new wind farm after you're getting closer to the end of your original production tax credit period for the old equipment. Also, of course, the new equipment is much larger and generates more power on land you already have control of, infrastructure already built, etc.. - and because of the phase down of tax credits, 2018 is the year you will see the equipment ordered for almost all of the next several years of projects Repowering order from PacifiCorp to Vestas Wind Systems. Quite amazing that it's optimal to scrap nacelles and blades after only approx. 11 years of operation, to get better performance. It says a lot about how the technology in this industry is advancing over time. [Mentioned by Uccmal before here on CoBF.] Yes, technology is evolving (longer blades, more efficient turbines etc) and there is more to come but: -this is a reminder of the intensity of capital involved -the decision to repower, like globalfinancepartners explains, in influenced significantly by the tax implications https://www2.deloitte.com/content/dam/Deloitte/us/Documents/energy-resources/us-er-useful-lives-and-assets-to-qualify-for-tax-credits.pdf Don't want to kill the enthusiasm but helpful to remember that the wind energy business, if you compare to learning how to ride a bike, is progressing but the safety wheels are still on. Link to comment Share on other sites More sharing options...
compoundvalue Posted June 30, 2018 Share Posted June 30, 2018 I didn’t know these. There are a few more actually Link to comment Share on other sites More sharing options...
gfp Posted July 3, 2018 Share Posted July 3, 2018 Clayton Properties picked up another traditional homebuilder. This one in Indianapolis -> http://www.insideindianabusiness.com/story/38565239/tennessee-company-adds-major-hoosier-homebuilder Link to comment Share on other sites More sharing options...
John Hjorth Posted July 3, 2018 Share Posted July 3, 2018 I didn’t know these. There are a few more actually compoundvalue, Here you go, and enjoy! [You'll most likely be occupied a few hours, if your're interested ... [ : - ) ] Link to comment Share on other sites More sharing options...
gfp Posted July 11, 2018 Share Posted July 11, 2018 Bolt on of unknown size (likely small) at TTI -> https://www.electronicsweekly.com/news/business/532037-2018-07/ Link to comment Share on other sites More sharing options...
John Hjorth Posted July 16, 2018 Share Posted July 16, 2018 Berkshire press release about Mr. Buffett's yearly gifts to the five foundations. Now ~USD 31 B in total, in this year ~USD 3.4 B, and counting. Link to comment Share on other sites More sharing options...
bizaro86 Posted July 18, 2018 Share Posted July 18, 2018 Berkshire press release about Mr. Buffett's yearly gifts to the five foundations. Now ~USD 31 B in total, in this year ~USD 3.4 B, and counting. This kind of got lost in the news about the repurchases. Does anyone know how long it takes before the S&P recalculates the free float shares and increases BRK weighting in the index? Link to comment Share on other sites More sharing options...
gfp Posted July 18, 2018 Share Posted July 18, 2018 I don't know the answer to your question - since most of the shares end up sitting in the Gates foundation for quite a while they might not consider them to be much of an increase in free float right away. Over time, though, Berkshire will get higher and higher weighting in the index. It already is a big contributor to most days' price moves since many BRK shares outside of indices just sit there with capital gains nobody wants to realize. You do have to appreciate what the timing of the two announcements says about Warren, though... He could have easily made the announcements in the reverse order. His charitable gifts would have been larger. But he would never do that and it doesn't really matter. He can't use the deductions anyway ------------- I found this post from Geoff Gannon in 2010 that summarizes S&P's methodology - "According to S&P Float Adjustment Methodology: In cases where holdings in a group exceed 10% of the outstanding shares of a company, the holdings of that group will be excluded from the float-adjusted count of shares to be used in index calculations. The "groups" they are talking about include current and former officers and directors as well as Foundations. As I understand it - and I may be wrong here - this means shares given by Buffett to the Gates Foundation wouldn't change float in S&P's eyes until Gates Foundation sells shares. You can read the whole document if you google "S&P Float Adjustment Methodology" and click on the PDF." Link to comment Share on other sites More sharing options...
Guest longinvestor Posted July 19, 2018 Share Posted July 19, 2018 https://www.bizjournals.com/dallas/news/2018/07/19/bnsf-railway-cio-muru-murugappan.html Well well well, buzzwords like IOT today are actually 20+ years old at BNSF. Link to comment Share on other sites More sharing options...
Jurgis Posted July 19, 2018 Share Posted July 19, 2018 I don't know the answer to your question - since most of the shares end up sitting in the Gates foundation for quite a while they might not consider them to be much of an increase in free float right away. Over time, though, Berkshire will get higher and higher weighting in the index. It already is a big contributor to most days' price moves since many BRK shares outside of indices just sit there with capital gains nobody wants to realize. You do have to appreciate what the timing of the two announcements says about Warren, though... He could have easily made the announcements in the reverse order. His charitable gifts would have been larger. But he would never do that and it doesn't really matter. He can't use the deductions anyway ------------- I found this post from Geoff Gannon in 2010 that summarizes S&P's methodology - "According to S&P Float Adjustment Methodology: In cases where holdings in a group exceed 10% of the outstanding shares of a company, the holdings of that group will be excluded from the float-adjusted count of shares to be used in index calculations. The "groups" they are talking about include current and former officers and directors as well as Foundations. As I understand it - and I may be wrong here - this means shares given by Buffett to the Gates Foundation wouldn't change float in S&P's eyes until Gates Foundation sells shares. You can read the whole document if you google "S&P Float Adjustment Methodology" and click on the PDF." I wonder if the buyback announcement is related to Gates foundation. Perhaps BRK wants to buyback blocks that Gates foundation plans to sell. Link to comment Share on other sites More sharing options...
rolling Posted July 19, 2018 Share Posted July 19, 2018 I don't know the answer to your question - since most of the shares end up sitting in the Gates foundation for quite a while they might not consider them to be much of an increase in free float right away. Over time, though, Berkshire will get higher and higher weighting in the index. It already is a big contributor to most days' price moves since many BRK shares outside of indices just sit there with capital gains nobody wants to realize. You do have to appreciate what the timing of the two announcements says about Warren, though... He could have easily made the announcements in the reverse order. His charitable gifts would have been larger. But he would never do that and it doesn't really matter. He can't use the deductions anyway ------------- I found this post from Geoff Gannon in 2010 that summarizes S&P's methodology - "According to S&P Float Adjustment Methodology: In cases where holdings in a group exceed 10% of the outstanding shares of a company, the holdings of that group will be excluded from the float-adjusted count of shares to be used in index calculations. The "groups" they are talking about include current and former officers and directors as well as Foundations. As I understand it - and I may be wrong here - this means shares given by Buffett to the Gates Foundation wouldn't change float in S&P's eyes until Gates Foundation sells shares. You can read the whole document if you google "S&P Float Adjustment Methodology" and click on the PDF." I wonder if the buyback announcement is related to Gates foundation. Perhaps BRK wants to buyback blocks that Gates foundation plans to sell. I would bet that would be the cause. A day after anither big charitable contribution they announce the buyback. Seems to me that if you want to do charity you shouldn't make the charities sell too much below intrinsic value. Bill Gates was likely reluctant to sell shares at recent prices. Link to comment Share on other sites More sharing options...
John Hjorth Posted July 19, 2018 Share Posted July 19, 2018 We have a separate topic in the Berkshire forum for this discussion, gents. Link to comment Share on other sites More sharing options...
gfp Posted July 19, 2018 Share Posted July 19, 2018 Can you give us the link to the proper place to answer questions about Berkshire’s weighting in the S&P 500 please? Seems fairly general but if it must be in a dedicated thread so be it Link to comment Share on other sites More sharing options...
John Hjorth Posted July 19, 2018 Share Posted July 19, 2018 globalfinancepartners, No, I can't. But you and bizaro could create it! - The topic at hand here is certainly worth separate discussion! [ : - ) ] Link to comment Share on other sites More sharing options...
Guest longinvestor Posted July 19, 2018 Share Posted July 19, 2018 John, This is the nature of message boards and the internet generation that we’re in. The first page (headline) gets all the attention. Page 2 maybe but almost never page 15 or 16. I sometimes dig up past discussions to revive them with current happenings but that’s the exception. We’re dealing with memory recall and impatience. The impatience is with saying what I want to say, no matter in which topic so long as it’s on the top of page 1. Link to comment Share on other sites More sharing options...
gfp Posted July 24, 2018 Share Posted July 24, 2018 This list shows the gist of how much the Gates foundation sells on a daily basis, for those who are curious - https://www.sec.gov/Archives/edgar/data/902012/000110465918046338/a18-17436_1ex99d1.htm Link to comment Share on other sites More sharing options...
Guest longinvestor Posted July 24, 2018 Share Posted July 24, 2018 This list shows the gist of how much the Gates foundation sells on a daily basis, for those who are curious - https://www.sec.gov/Archives/edgar/data/902012/000110465918046338/a18-17436_1ex99d1.htm Interesting...I did some mental arithmetic and over 43 trading days, they have sold just over 3 Million shares worth $500 million. Link to comment Share on other sites More sharing options...
alpha Posted August 1, 2018 Share Posted August 1, 2018 2B deal with Seritage Growth Properties https://www.reuters.com/article/us-seritage-growth-termloan-berkshire/buffetts-berkshire-offers-loan-to-owner-of-former-sears-properties-idUSKBN1KL33U Link to comment Share on other sites More sharing options...
Dynamic Posted August 3, 2018 Share Posted August 3, 2018 BERKSHIRE HATHAWAY INC. Information Regarding Second Quarter Earnings Release August 02, 2018 04:15 PM Eastern Daylight Time OMAHA, Neb.--(BUSINESS WIRE)--Berkshire Hathaway Inc. (BRK.A; BRK.B) – Berkshire Hathaway Inc.’s second quarter earnings release and its quarterly report on Form 10-Q will be posted on the Internet on Saturday, August 4, 2018, at approximately 7:00 a.m. Central time where it can be accessed at http://www.berkshirehathaway.com. Link to comment Share on other sites More sharing options...
DooDiligence Posted August 3, 2018 Share Posted August 3, 2018 Warren Watch (cool little column,) https://www.omaha.com/money/how-s-warren-buffett-doing-on-twitter/article_556f8125-e6ef-50c9-95f0-00d31174494a.html Link to comment Share on other sites More sharing options...
CharlesMunger Posted August 4, 2018 Share Posted August 4, 2018 Second Quarter Earnings 2018 http://www.berkshirehathaway.com/news/2018news.html Operating earnings...................................................... $ 6,893 Link to comment Share on other sites More sharing options...
KFS Posted August 8, 2018 Share Posted August 8, 2018 https://www.valuewalk.com/2018/08/berkshires-intrinsic-value-results-beat/ Value Walk article..... interesting sum-of-the-parts valuation..... Link to comment Share on other sites More sharing options...
John Hjorth Posted August 8, 2018 Share Posted August 8, 2018 Welcome to you here on CoBF, KFS! [ : - ) ] Just for your information, there is also the last three client letters from Semper Augustus, which can be accessed here, just in case you don't already know them. Link to comment Share on other sites More sharing options...
KFS Posted August 8, 2018 Share Posted August 8, 2018 Welcome to you here on CoBF, KFS! [ : - ) ] Just for your information, there is also the last three client letters from Semper Augustus, which can be accessed here, just in case you don't already know them. Thank you.... very good material..... I've been a quiet reader of this forum for some time now, just now emerging from the shadows Link to comment Share on other sites More sharing options...
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