clutch Posted September 2, 2018 Posted September 2, 2018 there is also one with Bloomberg: https://www.youtube.com/watch?v=gwTeJvLAuxQ
sleepydragon Posted September 2, 2018 Posted September 2, 2018 there is also one with Bloomberg: https://www.youtube.com/watch?v=gwTeJvLAuxQ The interviewer mis spoke about the banks’ reserves but Buffett was very quick correcting him :) Still a very sharp mind
gfp Posted September 7, 2018 Posted September 7, 2018 off topic, but Kiewitt Plaza is for sale for around $20 million. Berkshire has a very long term lease, but I wonder if they end up purchasing the building. On a side note, Omaha real estate appears not too pricey
OnTheShouldersOfGiants Posted September 7, 2018 Posted September 7, 2018 I suspect real estate returns are lower than equity, AAPL or even BRK repurchase at today's prices likely yield higher returns. Guessing they won't be using their capital on this.
Mephistopheles Posted September 7, 2018 Posted September 7, 2018 I suspect real estate returns are lower than equity, AAPL or even BRK repurchase at today's prices likely yield higher returns. Guessing they won't be using their capital on this. If they don't purchase it, it will not be for ROE reasons. $20 million is a drop in the bucket, and the purchase would be more for sentimental reasons kind of like the local newspapers. Having said that I am sure $20 m overvalues the building. Having Berkshire as a tenant means people might be willing to pay up for it.
cubsfan Posted September 7, 2018 Posted September 7, 2018 I suspect real estate returns are lower than equity, AAPL or even BRK repurchase at today's prices likely yield higher returns. Guessing they won't be using their capital on this. If they don't purchase it, it will not be for ROE reasons. $20 million is a drop in the bucket, and the purchase would be more for sentimental reasons kind of like the local newspapers. Having said that I am sure $20 m overvalues the building. Having Berkshire as a tenant means people might be willing to pay up for it. You know, that's a good point - if people are willing to pay $3M to have lunch with Warren, why not buy the building, you might get to have lunch with him a lot more often!
gfp Posted September 7, 2018 Posted September 7, 2018 WSJ video interview posted today - https://www.wsj.com/articles/warren-buffett-recounts-his-role-in-2008-financial-crisis-1536314400
sleepydragon Posted September 8, 2018 Posted September 8, 2018 I suspect real estate returns are lower than equity, AAPL or even BRK repurchase at today's prices likely yield higher returns. Guessing they won't be using their capital on this. If they don't purchase it, it will not be for ROE reasons. $20 million is a drop in the bucket, and the purchase would be more for sentimental reasons kind of like the local newspapers. Having said that I am sure $20 m overvalues the building. Having Berkshire as a tenant means people might be willing to pay up for it. You know, that's a good point - if people are willing to pay $3M to have lunch with Warren, why not buy the building, you might get to have lunch with him a lot more often! Buy the building and install listening devices? Haha
gfp Posted September 10, 2018 Posted September 10, 2018 Interesting to see Berkshire melting up towards an all time high with a major hurricane heading towards North Carolina. Maybe we should start a Hurricane Florence thread...
gfp Posted September 10, 2018 Posted September 10, 2018 Buffett did another video interview for the financial crisis anniversary, this time with Andrew Ross Sorkin as part of a CNBC doc coming out on the 'week that shook the world' -> https://www.cnbc.com/2018/09/10/warren-buffett-2008-financial-crisis-showed-we-are-all-dominoes.html
gfp Posted September 11, 2018 Posted September 11, 2018 Warren continues to sell down his PSX shares. Now below 5%. Had 34.73 million shares at last filing, down to 22.186 million shares now. https://www.sec.gov/Archives/edgar/data/1067983/000119312518270047/d622062dsc13ga.htm
alpha Posted September 12, 2018 Posted September 12, 2018 Warren continues to sell down his PSX shares. Now below 5%. Had 34.73 million shares at last filing, down to 22.186 million shares now. https://www.sec.gov/Archives/edgar/data/1067983/000119312518270047/d622062dsc13ga.htm Has he given any insight into why he's selling?
gfp Posted September 12, 2018 Posted September 12, 2018 He always says he loves the management and assets. So that leaves valuation. But, then again, Warren tends to keep his critical thoughts to himself - at least for a while. If I had to guess, I would guess valuation. Or maybe he wants to be below 5% for some other reason and will stand pat here.
gfp Posted September 12, 2018 Posted September 12, 2018 Another good interview with Warren - funny in that he mentions a top executive for one of the big investment banks called during the summer of '08 offering to sell him 'many many billions of dollars worth' of stock in Freddie Mac... https://www.cnbc.com/2018/09/12/warren-buffett-on-why-the-next-financial-crisis-is-unavoidable-greed.html
bizaro86 Posted September 12, 2018 Posted September 12, 2018 Some of their assets might be cyclicals at peak earnings. I haven't followed this closely, but their 50% interest in wood river is a big heavy oil refinery in Illinois. It is making money on the spread between canadian heavy (WCS) and WTI. That spread has been at historical highs due to pipeline and rail constraints. While transmountain may or may not get built, the line 3 expansion probably will, and rail is ramping up. A lower differential will lower their profits at wood river. I'm not sure how big a piece of their business refining is anymore, but thought I'd mention that.
gfp Posted September 12, 2018 Posted September 12, 2018 Bloomberg piece on Pilot Flying J -> https://www.bloomberg.com/news/articles/2018-09-12/truck-stop-king-looks-to-corner-crude-hauling-in-chaotic-permian
UK Posted September 13, 2018 Posted September 13, 2018 https://www.bloomberg.com/news/articles/2018-09-11/buffett-s-bottleneck-on-jet-engine-blades-crimps-boeing-airbus
gfp Posted October 2, 2018 Posted October 2, 2018 Berkshire finally closed this acquisition of a previously mutual medical malpractice liability insurer. https://insurancenewsnet.com/oarticle/mlmic-insurance-company-new-yorks-top-medical-liability-insurer-joins-berkshire-hathaway-family-of-companies-2#.W7NwmxZOklQ
alwaysinvert Posted October 3, 2018 Posted October 3, 2018 Matt Rose stepping down in 2019: https://www.reuters.com/article/us-bnsf-moves-matthewrose/bnsfs-exec-chairman-matthew-rose-to-step-down-in-2019-idUSKCN1MD1M6
John Hjorth Posted October 3, 2018 Posted October 3, 2018 Do you gents consider this "normal procedure" for Berkshire, not appointing the successor in the same announcement? -Perhaps an external candidate in the binoculars?
Guest longinvestor Posted October 4, 2018 Posted October 4, 2018 It could also mean that BNSF doesn’t need a replacement for Matt Rose’s post. Carl Ice can work with Greg Abel on strategic initiatives. BNSF needs for capital are modest relative to BHE. Anyone want $5 Billion annually?
John Hjorth Posted October 4, 2018 Posted October 4, 2018 That reads likely and makes sense, longinvestor. Thanks.
John Hjorth Posted October 11, 2018 Posted October 11, 2018 Wichita Business Journal [October 11th 2018] : FlightSafety CEO Bruce Whitman dies at 85.
gfp Posted October 16, 2018 Posted October 16, 2018 https://in.reuters.com/article/stone-ipo-berkshire-hathaway/update-1-brazilian-card-processor-hopes-to-lure-buffett-with-11-bln-nasdaq-ipo-idINL2N1WW0YZ General news / Berkshire / 3G update - an article on the company from SA. Obviously more likely a Ted or Todd deal but who knows with the Brazilians involved: https://seekingalpha.com/article/4212362-buffetts-stock-pick-stoneco-ipo-shows-74-percent-y-y-revenue-growth
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