Charlie Posted May 1, 2015 Posted May 1, 2015 BNSF poised to turn around 'crummy' year: CEO http://www.cnbc.com/id/102639693?__source=yahoo%7cfinance%7cheadline%7cheadline%7cstory&par=yahoo&doc=102639693 Cheers! :)
Guest longinvestor Posted May 1, 2015 Posted May 1, 2015 You have to wonder how driverless software makes decisions and who has the liability. I think Warren alluded to this last year. Imagine a scenario where a driverless car going at a high speed encounters a child crossing in front. What happens with 3 choices faced. 1 - straight ahead and kill the child 2 - swerve left into on coming traffic - how many potential deaths there 3- swerve right into concrete wall and kill occupants of your car All outcomes are bad - how do those decisions get made and who accepts liability? Stuff like this will take place hundreds of times a year. Hard for me to understand how you easily roll out driverless vehicles with these type of issues. Should be interesting. +1 Driving in Chicagoland or Atlanta, I worry more about the idiot behind me. Boy, they are angry as well. I can picture my self driving car with bumpers all around. But no worries, will be sleeping through all of the road rage,
Charlie Posted May 1, 2015 Posted May 1, 2015 Good interview with Carol Loomis: http://www.thestreet.com/video/13135083/warren-buffetts-friend-carol-loomis-says-buffett-is-driven-by-having-fun-and-not-making-money.html?puc=yahoov&cm_ven=YAHOOV Loomis doesn't expect Buffett to retire anytime soon, and says he keeps a rigorous schedule.
fareastwarriors Posted May 1, 2015 Author Posted May 1, 2015 After Warren Buffett: Berkshire Prepares for Life Without Legendary Leader Berkshire Hathaway’s octogenarian CEO does ‘everything humanly possible’ to make sure culture grows without him http://www.wsj.com/articles/after-warren-buffett-berkshire-prepares-for-a-life-without-legendary-leader-1430414729
fareastwarriors Posted May 1, 2015 Author Posted May 1, 2015 Woodstock of Capitalism’s odd couple http://www.ft.com/intl/cms/s/2/e7cae5e0-ef24-11e4-87dc-00144feab7de.html#slide0
rmitz Posted May 1, 2015 Posted May 1, 2015 Jurgis - with you it's definitely personal. There is a lot to dislike about your lack of civility. In this case, I think you’re actually adding his old arguments to this one and it makes you take his tone worse off than it is. I will add; Jurgis is totally right. What you are failing to account for is that the machines are not limited to the kinds of data that as humans we have to deal with. They can see all around the car, react effectively instantaneously, etc. They will also be able to predict these situations (lack of visibility of potential incoming objects) and reduce their speed preemptively to compensate. There’s no contest. All that said, it’s still going to be a pain to get the regs through, but it will happen.
gfp Posted May 1, 2015 Posted May 1, 2015 1st Quarter results are out - http://berkshirehathaway.com/news/MAY0115.pdf http://berkshirehathaway.com/qtrly/1stqtr15.pdf
Libs Posted May 1, 2015 Posted May 1, 2015 1st Quarter results are out - http://berkshirehathaway.com/news/MAY0115.pdf http://berkshirehathaway.com/qtrly/1stqtr15.pdf Good news: Operating earnings ex investment and derivative gains / losses = $4.2 billion, by far a new Q1 record and up 20% Y/Y. Bad news (?): BV didn't budge. Haven't figured out why.
gfp Posted May 1, 2015 Posted May 1, 2015 "BV didn't budge. Haven't figured out why." Page 4 of the Q breaks down the changes in comprehensive income. Unrealized investment losses and foreign currency translation are responsible for most of the difference between the income and the $1.3 Billion increase in net worth. "Other investments" was hit by a little over a billion dollars - remember that BAC was at 17.89 at year end and 15.39 at the end of the quarter... warrants to purchase 700 million shares
Jurgis Posted May 1, 2015 Posted May 1, 2015 Does anyone know offhand where did the share count drop come from? (I might dig later, asking in case someone already did). Thanks
gfp Posted May 1, 2015 Posted May 1, 2015 Graham Holdings stock swap primarily. Does anyone know offhand where did the share count drop come from? (I might dig later, asking in case someone already did). Thanks
bookie71 Posted May 1, 2015 Posted May 1, 2015 Doesn't part of share drop come from gift to Gates Foundation (A shares converted to B shares)?
gfp Posted May 1, 2015 Posted May 1, 2015 I assumed he was asking about total share count (A equivalents or B equivalents) and not changes in the categories that combine for total share count. Doesn't part of share drop come from gift to Gates Foundation (A shares converted to B shares)?
gfp Posted May 4, 2015 Posted May 4, 2015 BNSF 10-Q is out as well - always interesting to see. Another Billion dollar dividended out to Omaha this quarter - http://www.sec.gov/Archives/edgar/data/934612/000093461215000016/llc-3312015x10q.htm
Guest longinvestor Posted May 12, 2015 Posted May 12, 2015 A friend of mine came with me to Omaha, his first time. He is not a BRK shareholder but owns old names like DIS, WMT etc. and has attended those shareholder meetings. He is used to getting shareholder gifts, discount passes (DIS) etc. He was stunned that they don't given out any freebies at the BRK shareholder meeting. "Not even a can of Coke?" I shared with him Buffett's story of one of the early shareholder meetings, where he had vending machines set up. My friend's comment served as an epiphany of BRK ownership.
Mephistopheles Posted May 12, 2015 Posted May 12, 2015 A friend of mine came with me to Omaha, his first time. He is not a BRK shareholder but owns old names like DIS, WMT etc. and has attended those shareholder meetings. He is used to getting shareholder gifts, discount passes (DIS) etc. He was stunned that they don't given out any freebies at the BRK shareholder meeting. "Not even a can of Coke?" I shared with him Buffett's story of one of the early shareholder meetings, where he had vending machines set up. My friend's comment served as an epiphany of BRK ownership. Well, BRK shareholders get discounts as well - at NFM, GEICO, etc. We also get an open bar and free food on Friday night and Sunday afternoon. And a cheap meal on Saturday evening.
ERICOPOLY Posted May 12, 2015 Posted May 12, 2015 Jurgis - with you it's definitely personal. There is a lot to dislike about your lack of civility. In this case, I think you’re actually adding his old arguments to this one and it makes you take his tone worse off than it is. I will add; Jurgis is totally right. What you are failing to account for is that the machines are not limited to the kinds of data that as humans we have to deal with. They can see all around the car, react effectively instantaneously, etc. They will also be able to predict these situations (lack of visibility of potential incoming objects) and reduce their speed preemptively to compensate. There’s no contest. All that said, it’s still going to be a pain to get the regs through, but it will happen. How about driverless cars that have been hacked? They become drones that seek out pedestrians and run them over deliberately. Driverless car technology currently reads the painted lines on the road -- how does this work when a malicious person has deliberately repainted the road to guide the cars straight off a cliff?
Jurgis Posted May 13, 2015 Posted May 13, 2015 How about driverless cars that have been hacked? They become drones that seek out pedestrians and run them over deliberately. Driverless car technology currently reads the painted lines on the road -- how does this work when a malicious person has deliberately repainted the road to guide the cars straight off a cliff? How about human driven cars that have been hacked? Or where malicious people cut brakes? Or put mirrors across the road at night near a cliff? We should definitely ban human driven cars!
Crip1 Posted May 13, 2015 Posted May 13, 2015 Jurgis - with you it's definitely personal. There is a lot to dislike about your lack of civility. In this case, I think you’re actually adding his old arguments to this one and it makes you take his tone worse off than it is. I will add; Jurgis is totally right. What you are failing to account for is that the machines are not limited to the kinds of data that as humans we have to deal with. They can see all around the car, react effectively instantaneously, etc. They will also be able to predict these situations (lack of visibility of potential incoming objects) and reduce their speed preemptively to compensate. There’s no contest. All that said, it’s still going to be a pain to get the regs through, but it will happen. How about driverless cars that have been hacked? They become drones that seek out pedestrians and run them over deliberately. Driverless car technology currently reads the painted lines on the road -- how does this work when a malicious person has deliberately repainted the road to guide the cars straight off a cliff? This could be a problem as well: http://i.imgur.com/2RZrwFZ.gif -Crip
petec Posted May 13, 2015 Posted May 13, 2015 How about driverless cars that have been hacked? They become drones that seek out pedestrians and run them over deliberately. Driverless car technology currently reads the painted lines on the road -- how does this work when a malicious person has deliberately repainted the road to guide the cars straight off a cliff? How about human driven cars that have been hacked? Or where malicious people cut brakes? Or put mirrors across the road at night near a cliff? We should definitely ban human driven cars! Let's face it, driving is a relatively mindless activity and humans aren't good at those. They get bored, panic, rush, text people, fail to notice they're driving too fast, don't see an oncoming motorbike, misread junctions, or simply drive round a roundabout the wrong way like a friend of my mother's did a few years back. Computers with 360 degree all weather vision and nanosecond processing ability will be FAR better at it than we are.
Jurgis Posted May 13, 2015 Posted May 13, 2015 Let's face it, driving is a relatively mindless activity and humans aren't good at those. They get bored, panic, rush, text people, fail to notice they're driving too fast, don't see an oncoming motorbike, misread junctions, or simply drive round a roundabout the wrong way like a friend of my mother's did a few years back. Computers with 360 degree all weather vision and nanosecond processing ability will be FAR better at it than we are. Completely agreed. :)
redskin Posted May 13, 2015 Posted May 13, 2015 BNSF 10-Q is out as well - always interesting to see. Another Billion dollar dividended out to Omaha this quarter - http://www.sec.gov/Archives/edgar/data/934612/000093461215000016/llc-3312015x10q.htm Berkshire has taken $17 billion in dividends since acquiring BNSF. What is BNSF worth? $80 billion? Currently on the books at $35 billion. If it was valued at market, book value per share would increase by $27,000 per share.
Guest longinvestor Posted May 13, 2015 Posted May 13, 2015 BNSF 10-Q is out as well - always interesting to see. Another Billion dollar dividended out to Omaha this quarter - http://www.sec.gov/Archives/edgar/data/934612/000093461215000016/llc-3312015x10q.htm Berkshire has taken $17 billion in dividends since acquiring BNSF. What is BNSF worth? $80 billion? Currently on the books at $35 billion. If it was valued at market, book value per share would increase by $27,000 per share. In 10 to 20 years, Berkshire will not be able to intelligently invest it's cash, raising the possibility of buyback/dividend/both. Along with a giant cash balance, the market value of the wholly owned businesses will be ridiculously different from book value. As they've done before, they would likely be looking for "single transactions" to buyback huge share blocks. With little transactional cost, and literally with a pen stroke.
Guest longinvestor Posted May 14, 2015 Posted May 14, 2015 http://www.cnbc.com/id/102679488?__source=yahoo%7cfinance%7cheadline%7cheadline%7cstory&par=yahoo&doc=102679488 Peltz/Trian defeated. Very pleased that a 200+ year company was spared. Surely this doesn't look like stopping anytime soon. This is about actively managed funds trying their active management tantrums. "Do something, our investors are fleeing to passively managed funds"? The topic of shareholder activism was brought up by Munger as a potential catalyst for businesses seeking a permanent home. Should be interesting to watch as the active folks get their a$$e$ handed to them by the market and long term shareholders and boards
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