Buffett/Berkshire - general news

[petec]

Interesting! 
 

https://www.wsj.com/articles/berkshire-hathaway-to-buy-500-million-stake-in-brazils-nubank-11623153600

[IceCreamMan]

Nothing new here, but collects a few old quotes from/about John Malone, Warren Buffett, and Bill Gates.

 

https://markets.businessinsider.com/news/stocks/warren-buffett-bill-gates-microsoft-stock-ipo-john-malone-liberty-2021-6-1030496996

[alpha]

Large fire at Chemtool Plant in Illinois today.... Berkshire not having good luck with fires recently

 

https://ph.news.yahoo.com/explosion-fire-chemtool-facility-forces-181714372.html

[Gregmal]

On 6/8/2021 at 11:26 PM, Munger_Disciple said:

WSJ editorial board on the propublica article & the IRS: https://www.wsj.com/amp/articles/return-of-the-irs-scandal-11623191964

Yea if you arent with the movement, your civil rights are free to be violated. Its a real shame. 

[gfp]

Less and less is actually material to Berkshire parent company these days, but in the news yesterday is a large fire at an Illinois Chemtool plant.  Chemtool is a subsidiary of Lubrizol (purchased in 2011).

 

https://www.google.com/search?q=chemtool&client=safari&sxsrf=ALeKk014l-R38ukUgBp_ETy-qYpx__RDiA:1623773872280&source=lnms&tbm=nws&sa=X&ved=2ahUKEwi22uiGhZrxAhWXXc0KHWAvCtAQ_AUoBHoECAEQBg&biw=1341&bih=1287

 

In other news, TransRe (an Alleghany subsidiary) and GenRe are not renewing their 5 year underwriting partnership -

 

https://www.reinsurancene.ws/transre-and-gen-re-break-off-underwriting-partnership/

 

 

[Thelilyinvestor]

Will we see a big number of share buybacks in Q2 2021 or a clear slowdown because the share price went up?

 

Anyone any thoughts?

 

I personaly think Berkshire Valuation as pretty much fair so I expect a clear slowdown of buybacks by Buffett.

 

On the other side, I prefer to see them keep doing buybacks even at fair value rather than the cash balance keep going up up and up.

[ValueMaven]

I'm glad the stock stopped running higher actually. 

[gfp]

Its a teeny tiny acquisition at Clayton properties group -

https://huntsvillebusinessjournal.com/lead/2021/06/17/goodall-homes-acquires-huntsville-based-legacy-homes/

[ValueMaven]

great find!  Thank you

[fareastwarriors]

Warren Buffett's deputy has scored a 300% gain on Dillard's in 9 months - and now boasts a $170 million stake

 

https://markets.businessinsider.com/news/stocks/warren-buffett-deputy-ted-weschler-makes-gain-dillards-stock-2021-6-1030534902

[alpha]

Buffett resigns as a trustee from Gates Foundation:

 

https://www.reuters.com/article/gates-foundation-buffett/update-3-warren-buffett-resigns-from-gates-foundation-has-donated-half-his-fortune-idUSL3N2O52OA

[John Hjorth]

The original message from Mr. Buffett mentioned by @alpha in the post above can be found here . Reading it is to me worth our time.

[Fitz]

2 hours ago, John Hjorth said:

The original message from Mr. Buffett mentioned by @alpha in the post above can be found here . Reading it is to me worth our time.

 

Great read! thanks for the link. A gentleman to the end! 

[John Hjorth]

Fitz,

 

-What do you actually read? - I want to discuss!

[wabuffo]

New 13-D by Buffett.

https://sec.gov/Archives/edgar/data/315090/000119312521197258/d174483dsc13da.htm

 

He owns 238,624 A-Shares and 2,412 B-Shares = 15.8% economic interest at of June 21st.

 

That's a reduction since Q1 of 23.05m B-equivalent shares.

 

At an average price of $285 per B-share, that's $6.6b in buybacks in Q2 so far.

 

If yes, that's huge buying even at prices people might've thought would mean he would stop/slow down the share repurchases.

 

wabuffo

[JPerez]

According to the filing after his latest philanthropic donations Warren Buffett's stake in Berkshire is down to 238626.6 class A equivalent shares which represents a 15.8% economic interest.

So if my math is correct outstanding A equivalent shares as per today are between 1515000 and 1505000. There were 1525655 the 31st of march. So they have repurchased between 20000 and 10000. So that is between 4.15 and 8.3 billion.

So it looks like buybacks are continuing at a decent clip despite the higher prices

Edited June 23, 2021 by JPerez
Error in calculation

[wabuffo]

https://seekingalpha.com/news/3709624-hershey-gains-on-berkshire-hathaway-takeover-speculation

 

Hershey corporate jet spotted in Omaha.  Leads to speculation about the Old Fool buying HSY.  Of course, the Hershey Trust would have to approve - but perhaps they would like to do a swap for BRK stock...  

 

Also in the news....

 

https://apnews.com/article/ne-state-wire-health-coronavirus-pandemic-business-144420903ce861113de38af2edc87b71

 

Buffett and Munger sit-down interview on CNBC next Tues. 7pm on CNBC.

 

wabuffo

 

Edited June 24, 2021 by wabuffo

[ValueMaven]

Source on the CNBC interview?  That would be awesome.  

 

Regarding Hershey - I dont know enough.  I know Buffett has sung the praises of Mars for years

[nickenumbers]

19 hours ago, wabuffo said:

New 13-D by Buffett.

https://sec.gov/Archives/edgar/data/315090/000119312521197258/d174483dsc13da.htm

 

He owns 238,624 A-Shares and 2,412 B-Shares = 15.8% economic interest at of June 21st.

 

That's a reduction since Q1 of 23.05m B-equivalent shares.

 

At an average price of $285 per B-share, that's $6.6b in buybacks in Q2 so far.

 

If yes, that's huge buying even at prices people might've thought would mean he would stop/slow down the share repurchases.

 

wabuffo

Wabuffo, 

 

Congrats on being picked up by Whitney Tilson for your work above in Whitney's email today.  And, Thank you for doing the share repurchase math for some of the more lazy investors.  ME!

 

Congrats and CHEERS!

[John Hjorth]

Where does one sign up for e-mails from Whitney Tilson? [Well, right now, I have 131,015 of such [in the meaning: Unread!]].

Edited June 24, 2021 by John Hjorth

[ValueMaven]

https://www.barrons.com/articles/warren-buffett-filing-indicates-berkshire-hathaway-bought-back-6-billion-of-stock-in-2nd-quarter-51624487156?mod=hp_LEADSUPP_1

[hasilp89]

wow has Ted has crushed it in his IRA 9000x over 35 years.  

https://www.documentcloud.org/documents/20971124-ted-weschler-statement

[LearningMachine]

38 minutes ago, hasilp89 said:

wow has Ted has crushed it in his IRA 9000x over 35 years.  

https://www.documentcloud.org/documents/20971124-ted-weschler-statement

Thank you for sharing.  Almost 30% annual return over 35 years without having to worry about taxes.  

[gfp]

Thanks for sharing the link. From the Pro Publica article, Ted had $264.4 million in his Roth IRA at the end of 2018. Safe to assume considerably more today. 
 

Amazing that Berkshire has found such rare talents to take the job. 

[aws]

Based on the numbers in the letter, $70,385 in 1989 to $131 million in 2012 is more like a 39% annual return, which is absolutely incredible considering he said every investment was in publicly traded stocks at market prices.

 

However, I wonder how his tax bill was only $28 million on a $131 million conversion. Roth conversions are ordinary income, and the top tax bracket was 35%, so it should have been more like $46 million. I can't think of any way that could have been possible if he did take all the income in a single year like he said.