Jump to content

50 Years of BRK Wall Print (+new letters book)


maxprogram

Recommended Posts

I don't believe it is Amazon that refuses to ship to Canada.  I believe it is the individual seller that has put these books with Amazon to sell on their behalf.

Cheers from Canada

 

Actually, you might be right. I seem to remember that as a seller you mark some boxes that allow international shipping or not. This was couple years ago. I don't know if Amazon changed anything since then.

Link to comment
Share on other sites

Both the books and the posters are sold through "Fulfillment by Amazon". I just looked into it and at first glance it seems they ship to U.S. only. I am going to call customer support today to see if there is any way to ship international.

Link to comment
Share on other sites

Both the books and the posters are sold through "Fulfillment by Amazon". I just looked into it and at first glance it seems they ship to U.S. only. I am going to call customer support today to see if there is any way to ship international.

 

I have not used "Fulfillment by Amazon" when I sold books/etc. on Amazon. Hope you get some answers from customer support.

Link to comment
Share on other sites

Just finished talking with someone at Amazon. Apparently, for FBA they will ship to pretty much every country BUT Canada. I don't know why, probably some strange legal agreement. Directly from the FAQ:

 

Can I export my products to Canada?

 

You can ship music, videos, and DVDs to Canada. You cannot ship books or non-media products from the U.S. to Canada.

 

So unfortunately it looks like Canadian buyers are out of luck. Maybe there's some sort of mail forwarding service I'm unaware of that could be used as an intermediary?

Link to comment
Share on other sites

Guest notorious546

Just finished talking with someone at Amazon. Apparently, for FBA they will ship to pretty much every country BUT Canada. I don't know why, probably some strange legal agreement. Directly from the FAQ:

 

Can I export my products to Canada?

 

You can ship music, videos, and DVDs to Canada. You cannot ship books or non-media products from the U.S. to Canada.

 

So unfortunately it looks like Canadian buyers are out of luck. Maybe there's some sort of mail forwarding service I'm unaware of that could be used as an intermediary?

 

sigh

Link to comment
Share on other sites

Couple random thoughts after looking briefly at the print:

 

- How would one hold a stock for 50 years when it's tough to hold stock for 1 year ;)

- Smallish outperformance vs S&P500 in last 10 (and 20) years

- The annualized returns of Buffett's big stock positions: KO, WPO, AXP - are pretty much in 13-14% annualized range. Considering these are great companies purchased by Buffett cheap, it seems to indicate that it's very hard to expect >15% returns from any company long term. WFC returned 17% and Geico returned more before it was bought out, so it's possible, but hard. (Caveat: the returns are from first batch purchase date; Buffett may have added more at cheaper prices.)

Link to comment
Share on other sites

Over a long enough time, though, the compounding will tend towards the ROE, so even if you buy very cheap, that still washes away over time.

 

I am sorry merkhet, but I disagree.

This is a common misconception introduced by "Buffettology" (can I even mention this book on CoBF? ;)  :-[ ).

The compounding only tends towards ROE if company can reinvest its returns into something producing the same ROE.

If you look at KO, the ROE was always in high 20's-30's ( http://www.gurufocus.com/financials.php?symbol=ko ), but the return was only in 13-14% range (if we trust the print).

 

Now, it might be a good study to find out where does the rest of ROE disappear... :) Common suspects are mediocre/bad investments and share repurchases at high premium, but there might be more.

Link to comment
Share on other sites

Ah, yes. I didn't adequately list out my assumptions.

 

You're correct that a company's compounding will only tend towards the ROE if they can earn roughly the ROE on incremental capital deployed in the business. (In my mind, that's companies like AXP or the banks.)

 

The problem Coca-Cola faces is similar to the problem faced by See's Candy. The return on equity is fantastic, but there's little need for incremental capital (pre-ownership of bottling plants, anyway) -- as a result, you'll have to redeploy that capital elsewhere, and the common choices are (A) acquisitions, (B) dividends and © share repurchase.

 

 

Link to comment
Share on other sites

There's someone trying to sell his copy of the poster for $50 on Amazon. Seems he is trying to buy low sell high! Only problem is that everyone else looking at this is a value investor too lol

 

That's why it's so surprising that used copies of Klarman's book are selling for what they are!

Link to comment
Share on other sites

  • 5 months later...

Glad you guys like it  :)  I actually only recently got my own copy framed.

 

 

If anyone here has bought the poster through Amazon, would appreciate it if you could leave a short review. There are 2 good ones up there at the moment, but a few more couldn't hurt!

 

 

(http://www.amazon.com/Years-Berkshire-Hathaway-Wall-Print/dp/0692448438)

Link to comment
Share on other sites

I ordered a yellow "backup" copy of the BRK Shareholder Letters at lulu.com a few days ago, and yesterday I got shipment confirmation. It will fit well to the blue and black copies that I already have.

 

http://www.lulu.com/shop/warren-buffett/berkshire-hathaway-letters-to-shareholders/hardcover/product-22445483.html

 

Thank you for your work with this, Max!  :)

 

 

 

 

Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
×
×
  • Create New...