gfp Posted November 4, 2018 Posted November 4, 2018 Article on coming Q4 Michael loss estimates at BRK: https://www.reinsurancene.ws/berkshire-hathaway-pegs-hurricane-michael-loss-at-up-to-550m/
Orchard Posted November 5, 2018 Posted November 5, 2018 Matt Levine has a very short take on BRK share buybacks which has an interesting quote: But it feels presumptuous to think that Berkshire’s shareholders would be better stewards of their cash than Buffett is. Full take is in the middle of his today's Money Stuff column: https://www.bloomberg.com/opinion/articles/2018-11-05/expensive-stocks-make-for-good-bonds
Cigarbutt Posted November 7, 2018 Posted November 7, 2018 This article is an update on the ballot item in Nevada to open up NV Energy's regulated monopoly to more choice. Obviously NV Energy would still own the distribution infrastructure. BHE has been spending a lot of money on lobbying / advertising. Some large individual casinos had already won the right to pay a termination fee and buy their power from an independent producer. https://www.politico.com/story/2018/10/27/adelson-buffett-nevada-890190 https://www.rgj.com/story/news/politics/2018/11/06/63-million-spent-defeat-nevadas-question-3-worked/1908835002/
gfp Posted November 8, 2018 Posted November 8, 2018 Greg Abel already running the place! https://www.bloomberg.com/news/articles/2018-11-08/berkshire-s-egan-nabs-a-more-delicious-position-at-see-s-candies
gfp Posted November 8, 2018 Posted November 8, 2018 Don Graham article on the recent accounting changes that result in goofy net income figures at Berkshire: https://www.wsj.com/articles/i-cant-see-berkshires-bottom-line-1541636012?mod=searchresults&page=1&pos=1
Dynamic Posted November 9, 2018 Posted November 9, 2018 A new SEC filing of type SC 13G has appeared, disclosing an 11.3% stake in StoneCo Ltd. (ticker: STNE) of São Paulo, Brazil (14,166,748 shares of Common Stock) None of this is attributable to Berkshire's pension funds - all is held via National Indemnity Company. The IPO came after 30th Sep 2018 so it will not appear in the 13-F filings which are likely to be released in the middle of next week. The price since IPO on 25th Oct has been between about $27 and $31 per share. At current price of $27.70, the stake is priced at $392 million USD. The IPO price was $24 per share, Berkhire's stake presumably having cost $340,001,952. The 13G filing must be made within 10 business days of acquisition of a 5% stake, so it's likely to have been acquired on 25th October at IPO.
gfp Posted November 9, 2018 Posted November 9, 2018 Yeah, Berkshire's involvement was in the IPO prospectus (which doesn't help you get a lower price - wonder why they did that?) The Walton family VC vehicle Madrone owned a lot and added 2.75m shares in the IPO and management at Madrone told Todd Combs about it and Todd decided to invest. There are some 3G principals invested in it as well - I believe from an earlier round.
Jurgis Posted November 9, 2018 Posted November 9, 2018 Todd and Ted would (might?) be great if BRK was 10-100 times smaller. At this size it's going to be tough ... for anyone, even Buffett himself.
John Hjorth Posted November 9, 2018 Posted November 9, 2018 Todd and Ted would (might?) be great if BRK was 10-100 times smaller. At this size it's going to be tough ... for anyone, even Buffett himself. Jurgis, they just have to deliver, according the their signed contract with Berkshire. No soft feelings here from me. They are hired to deliver.
rb Posted November 9, 2018 Posted November 9, 2018 Nah, they'll be ok. This is how it goes. One Monday Todd walks into the office and goes.... Hey Ted, let's go talk to the old man about buying GE. Done. See... it's not that hard.
John Hjorth Posted November 9, 2018 Posted November 9, 2018 Nah, they'll be ok. This is how it goes. One Monday Todd walks into the office and goes.... Hey Ted, let's go talk to the old man about buying GE. Done. See... it's not that hard. OK, rb. My reply to Jurgis was actually about that I [in general] worry more about myself than Ted & Todd. [ : - ) ]
Jurgis Posted November 9, 2018 Posted November 9, 2018 Nah, they'll be ok. This is how it goes. One Monday Todd walks into the office and goes.... Hey Ted, let's go talk to the old man about buying GE. Done. See... it's not that hard. LOL. 8)
redskin Posted November 10, 2018 Posted November 10, 2018 Berkshire's cost basis in 'Banks, Insurance, Financials' increased by $15 billion in Q3. $5-6 billion can be attributed to the increased stake in BAC. Will be interesting to see the additions he made.
John Hjorth Posted November 14, 2018 Posted November 14, 2018 Yes, and it seems that the prayers by globalfinancepartners and I have been heard : JPM shares for USD ~4 B. [ : - ) ]
gfp Posted November 14, 2018 Posted November 14, 2018 Look at that.. You CAN buy JPM if Todd's on the board, since it wasn't Todd buying the shares. He's getting his banks after all. Better late than never!
gfp Posted November 14, 2018 Posted November 14, 2018 Extra holdings not captured by dataroma, from General Re New England Asset management - https://www.sec.gov/Archives/edgar/data/1004244/000108514618002756/xslForm13F_X01/form13fInfoTable.xml BAC +1.75 million shares BK +11.063 million shares JPM +545,000 shares ORCL +1.287 million shares PNC +1.1 million shares TRV +43,000 shares In addition to the stuff reported at Dataroma from the regular 13F: https://www.dataroma.com/m/holdings.php?m=BRK ------- So, Berkshire owns exactly 900 million shares of BAC, or 9.17%
gfp Posted November 14, 2018 Posted November 14, 2018 Who the hell bought oracle? In total it is 42.7 million shares of ORCL. If it keeps getting bigger, I would guess it's Warren. At this size (over $2 Billion), it could technically be any of the 3.
John Hjorth Posted November 14, 2018 Posted November 14, 2018 The exposure to US banks is now enormous - about USD 70 B [getting to USD 67.8 B alone from Dataroma, exclusive New England Asset Management]. It better go well.
sleepydragon Posted November 14, 2018 Posted November 14, 2018 The exposure to US banks is now enormous - about USD 70 B [getting to USD 67.8 B alone from Dataroma, exclusive New England Asset Management]. It better go well. The big four banks are trading at depressed PE, buying backs stocks each year using 70-80+% of their profits. If it keeps going, they will be no shares left after a decade.
SHDL Posted November 14, 2018 Posted November 14, 2018 The exposure to US banks is now enormous - about USD 70 B [getting to USD 67.8 B alone from Dataroma, exclusive New England Asset Management]. It better go well. The big four banks are trading at depressed PE, buying backs stocks each year using 70-80+% of their profits. If it keeps going, they will be no shares left after a decade. I cannot wait to sell them their last share in 2028!
sleepydragon Posted November 14, 2018 Posted November 14, 2018 So WEB is going to own 10% of the entire banking industry in USA? Maybe FEDs shall invite him at their next meeting. Haha
boilermaker75 Posted November 14, 2018 Posted November 14, 2018 The exposure to US banks is now enormous - about USD 70 B [getting to USD 67.8 B alone from Dataroma, exclusive New England Asset Management]. It better go well. I sure hope so! My four largest holdings are 1. BRKB 2. WFC 3. BAC 4. BK
sleepydragon Posted November 14, 2018 Posted November 14, 2018 The exposure to US banks is now enormous - about USD 70 B [getting to USD 67.8 B alone from Dataroma, exclusive New England Asset Management]. It better go well. I sure hope so! My four largest holdings are 1. BRKB 2. WFC 3. BAC 4. BK How funny. These are my top 4 holdings too, and at the same order. There only difference is these four are also my Only holdings.
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