gfp Posted September 12, 2019 Author Posted September 12, 2019 Its a great family business, not sure why the family would want to sell anytime soon but you never know. I think they are at least to 580 locations now. My wife's family lives in Virginia or I wouldn't even be aware of them. (pilot flying J is over 750 locations now - time marches on) Sheetz gas station chain. - People love Sheetz food. - Tesla Charging stations. Not unique but their atmosphere and food are arguably best in class giving them some advantage over competition to entice people to charge there. - 530ish locations (Flying J has 650ish)
Okonomen Posted September 26, 2019 Posted September 26, 2019 If it wasn't for the Murdoch family who owns 1/3 of the voting shares, I think Fox Corp could be an ideal M&A target. 20 bUSD market cap atm, very strong media franchise generating +30% ROIC, not that exposed to cord cutting due to focus on live sports and news, and they have a very promising broadcast segment where they more or less own all comedy cartoon entertainment (family guy, American dad, futurama, simpsons, bobs burger) Trading at a conservative multiple right now and actually BRK could buy Fox and keep mgmt. like they always do, and the Murdochs could keep a 10% stake or similar
DooDiligence Posted September 26, 2019 Posted September 26, 2019 If it wasn't for the Murdoch family who owns 1/3 of the voting shares, I think Fox Corp could be an ideal M&A target. 20 bUSD market cap atm, very strong media franchise generating +30% ROIC, not that exposed to cord cutting due to focus on live sports and news, and they have a very promising broadcast segment where they more or less own all comedy cartoon entertainment (family guy, American dad, futurama, simpsons, bobs burger) Trading at a conservative multiple right now and actually BRK could buy Fox and keep mgmt. like they always do, and the Murdochs could keep a 10% stake or similar LOL edit: I probably deserve a big horse laugh at some of my suggestions too.
Spekulatius Posted September 27, 2019 Posted September 27, 2019 If it wasn't for the Murdoch family who owns 1/3 of the voting shares, I think Fox Corp could be an ideal M&A target. 20 bUSD market cap atm, very strong media franchise generating +30% ROIC, not that exposed to cord cutting due to focus on live sports and news, and they have a very promising broadcast segment where they more or less own all comedy cartoon entertainment (family guy, American dad, futurama, simpsons, bobs burger) Trading at a conservative multiple right now and actually BRK could buy Fox and keep mgmt. like they always do, and the Murdochs could keep a 10% stake or similar I like FOX ( as a business, content is another matter), but don’t think that BRK want to be seen controlling a major media/news company. It‘s just too much headaches. I can see them buying a stake or a large position in DIS at the right price. I think there are a lot of business that BRK would be interested in, but the question is more of a seller parting a price that Warren is comfortable with. That intersection is very very small apparently.
bizaro86 Posted October 4, 2019 Posted October 4, 2019 I can't see WEB wanting to own fox news. Economically, you'd have to leave the political perspective (or you'd lose your customers). But I'm not sure, "owner of Fox News" plays well for him socially.
Casey Posted October 4, 2019 Posted October 4, 2019 Probably some gas station chain or industrial parts company I've never heard of.
sleepydragon Posted October 5, 2019 Posted October 5, 2019 GE, rolls Royce, FAST? Rolex or some scotch maker? A bank? Altria ( Web bought airline stocks after all)
DooDiligence Posted October 5, 2019 Posted October 5, 2019 Altria ( Web bought airline stocks after all) :o IDK, airlines kill people by accident, occasionally, but Altria does it on purpose every day. --- I still think Bucees would be a nice little purchase that could be expanded on. The one that just opened at the Baldwin Beach Express, near Loxley, AL, is huge. They prohibit 18 wheelers & they're mobbed up every time I've stopped in. https://www.buc-ees.com/index.php --- Too bad he didn't get WhatABurger. I never see discount coupons for them. They don't need to run specials. https://www.nytimes.com/2019/06/20/us/texas-whataburger-chicago.html https://fortune.com/2014/12/29/byron-trott-billionaires-banker/
sleepydragon Posted October 5, 2019 Posted October 5, 2019 Altria ( Web bought airline stocks after all) :o IDK, airlines kill people by accident, occasionally, but Altria does it on purpose every day. --- I still think Bucees would be a nice little purchase that could be expanded on. The one that just opened at the Baldwin Beach Express, near Loxley, AL, is huge. They prohibit 18 wheelers & they're mobbed up every time I've stopped in. https://www.buc-ees.com/index.php --- Too bad he didn't get WhatABurger. I never see discount coupons for them. They don't need to run specials. https://www.nytimes.com/2019/06/20/us/texas-whataburger-chicago.html https://fortune.com/2014/12/29/byron-trott-billionaires-banker/ But you own MO? (I just bought 1.5% positions of MO last week)
DooDiligence Posted October 5, 2019 Posted October 5, 2019 Altria ( Web bought airline stocks after all) :o IDK, airlines kill people by accident, occasionally, but Altria does it on purpose every day. --- I still think Bucees would be a nice little purchase that could be expanded on. The one that just opened at the Baldwin Beach Express, near Loxley, AL, is huge. They prohibit 18 wheelers & they're mobbed up every time I've stopped in. https://www.buc-ees.com/index.php --- Too bad he didn't get WhatABurger. I never see discount coupons for them. They don't need to run specials. https://www.nytimes.com/2019/06/20/us/texas-whataburger-chicago.html https://fortune.com/2014/12/29/byron-trott-billionaires-banker/ But you own MO? (I just bought 1.5% positions of MO last week) I do & as it says in my signature "I trumpet my ignorance" :D
CorpRaider Posted October 28, 2019 Posted October 28, 2019 I got one. Have AXP spin off or sell the "bank" and BRK acquires the remainder of the payments network it doesn't own. Then open up both sides of the network (to all/other issuers) and mark it to a MA multiple on the books by floating 5% back out in 2023 (like John Malone or some such). Where mah fees at?
rogermunibond Posted October 28, 2019 Posted October 28, 2019 Newsom wants BRK to bid on PCG. But he doesn't know that WEB doesn't do auctions. https://finance.yahoo.com/news/california-governor-wants-berkshire-bid-235301474.html
rkbabang Posted October 28, 2019 Posted October 28, 2019 Altria ( Web bought airline stocks after all) :o IDK, airlines kill people by accident, occasionally, but Altria does it on purpose every day. --- I still think Bucees would be a nice little purchase that could be expanded on. The one that just opened at the Baldwin Beach Express, near Loxley, AL, is huge. They prohibit 18 wheelers & they're mobbed up every time I've stopped in. https://www.buc-ees.com/index.php --- Too bad he didn't get WhatABurger. I never see discount coupons for them. They don't need to run specials. https://www.nytimes.com/2019/06/20/us/texas-whataburger-chicago.html https://fortune.com/2014/12/29/byron-trott-billionaires-banker/ Correction: Altria provides the substances needed for people who choose to kill themselves to do so everyday. It might seem like a small distinction, but it makes all of the difference. Anyone can choose to not be in danger of being killed by Altria. (I recently bought MO at $40.)
wabuffo Posted October 28, 2019 Posted October 28, 2019 But he doesn't know that WEB doesn't do auctions. WEB is also not crazy about buying assets inside a bankruptcy process. He's had some disagreements with Bankruptcy judges about the miniscule size of the deal break-up fees imposed by Courts. Buffett views it like he is being forced to offer a put option and isn't being adequately compensated for it. wabuffo
sleepydragon Posted October 28, 2019 Posted October 28, 2019 Altria ( Web bought airline stocks after all) :o IDK, airlines kill people by accident, occasionally, but Altria does it on purpose every day. --- I still think Bucees would be a nice little purchase that could be expanded on. The one that just opened at the Baldwin Beach Express, near Loxley, AL, is huge. They prohibit 18 wheelers & they're mobbed up every time I've stopped in. https://www.buc-ees.com/index.php --- Too bad he didn't get WhatABurger. I never see discount coupons for them. They don't need to run specials. https://www.nytimes.com/2019/06/20/us/texas-whataburger-chicago.html https://fortune.com/2014/12/29/byron-trott-billionaires-banker/ Correction: Altria provides the substances needed for people who choose to kill themselves to do so everyday. It might seem like a small distinction, but it makes all of the difference. Anyone can choose to not be in danger of being killed by Altria. (I recently bought MO at $40.) It amazes me that WFC is under so much pressure from legislators for opening some checking accounts with 0 balances, yet cigarettes companies selling an addictive product that kills people are allowed to exist. (Also bought MO at 40 and doubled at 43. But is still trying to convince my conscience that I shall double again my holdings)
rkbabang Posted October 28, 2019 Posted October 28, 2019 Altria ( Web bought airline stocks after all) :o IDK, airlines kill people by accident, occasionally, but Altria does it on purpose every day. --- I still think Bucees would be a nice little purchase that could be expanded on. The one that just opened at the Baldwin Beach Express, near Loxley, AL, is huge. They prohibit 18 wheelers & they're mobbed up every time I've stopped in. https://www.buc-ees.com/index.php --- Too bad he didn't get WhatABurger. I never see discount coupons for them. They don't need to run specials. https://www.nytimes.com/2019/06/20/us/texas-whataburger-chicago.html https://fortune.com/2014/12/29/byron-trott-billionaires-banker/ Correction: Altria provides the substances needed for people who choose to kill themselves to do so everyday. It might seem like a small distinction, but it makes all of the difference. Anyone can choose to not be in danger of being killed by Altria. (I recently bought MO at $40.) It amazes me that WFC is under so much pressure from legislators for opening some checking accounts with 0 balances, yet cigarettes companies selling an addictive product that kills people are allowed to exist. (Also bought MO at 40 and doubled at 43. But is still trying to convince my conscience that I shall double again my holdings) Whatever the distant past was like, everyone knows what the deal is with tobacco today. No one is buying it and using it thinking that it is healthy. That's why I have no problem owning it. Also they should leave WFC (which I also own) alone.
DooDiligence Posted October 28, 2019 Posted October 28, 2019 Altria ( Web bought airline stocks after all) :o IDK, airlines kill people by accident, occasionally, but Altria does it on purpose every day. --- I still think Bucees would be a nice little purchase that could be expanded on. The one that just opened at the Baldwin Beach Express, near Loxley, AL, is huge. They prohibit 18 wheelers & they're mobbed up every time I've stopped in. https://www.buc-ees.com/index.php --- Too bad he didn't get WhatABurger. I never see discount coupons for them. They don't need to run specials. https://www.nytimes.com/2019/06/20/us/texas-whataburger-chicago.html https://fortune.com/2014/12/29/byron-trott-billionaires-banker/ Correction: Altria provides the substances needed for people who choose to kill themselves to do so everyday. It might seem like a small distinction, but it makes all of the difference. Anyone can choose to not be in danger of being killed by Altria. (I recently bought MO at $40.) It amazes me that WFC is under so much pressure from legislators for opening some checking accounts with 0 balances, yet cigarettes companies selling an addictive product that kills people are allowed to exist. (Also bought MO at 40 and doubled at 43. But is still trying to convince my conscience that I shall double again my holdings) Whatever the distant past was like, everyone knows what the deal is with tobacco today. No one is buying it and using it thinking that it is healthy. That's why I have no problem owning it. Also they should leave WFC (which I also own) alone. I don't have a problem with the burnable business as the dangers are known (like you said). My problem with MO is their decision to extend themselves into the vaping business. I'm probably wrong about the negative outcomes that I believe will result. TBF, they survived cig litigation & resulting payouts, & still maintained massive FCF, so this may be a business that any idiot could run.
sleepydragon Posted October 28, 2019 Posted October 28, 2019 My problem with MO get into vaping is that it’s a business with no moat, and they paid a huge price.
John Hjorth Posted October 28, 2019 Posted October 28, 2019 ... Also they should leave WFC (which I also own) alone. Ohh come-on, rkbabang, Nowadays, even WFC has a CEO [as for any decent US bank with just any part left of self-esteem] [ ; - ) ]
DooDiligence Posted October 28, 2019 Posted October 28, 2019 Whatever the distant past was like, everyone knows what the deal is with tobacco today. No one is buying it and using it thinking that it is healthy. That's why I have no problem owning it. Also they should leave WFC (which I also own) alone. I don't have a problem with the burnable business as the dangers are known (like you said). My problem with MO is their decision to extend themselves into the vaping business. I'm probably wrong about the negative outcomes that I believe will result. TBF, they survived cig litigation & resulting payouts, & still maintained massive FCF, so this may be a business that any idiot could run. RK, I hope you didn't take my response the wrong way. (Online posts can be easily misinterpreted.) My reference to "any idiot" referred to Howard A. Willard III. I strongly believe that the health risks of vaping are going to be as obvious, in hindsight, as the risks are now to cigs. I also believe that at $40ish, you'll make money. Not a long term hold for me any more though, and I'll dump MO if it gets into the high $60's & never look back. That said, I don't know if you've seen this guys posts but he makes a good case for owning Altria, https://twitter.com/SuperMugatu/status/1179871479628009485?s=20
CorpRaider Posted October 28, 2019 Posted October 28, 2019 My problem with MO get into vaping is that it’s a business with no moat, and they paid a huge price. They seem to have top ticked it in marijuana and vaping and didn't even get control (probably a good idea...not controlling). Impressive.
sleepydragon Posted October 28, 2019 Posted October 28, 2019 My father in law was a smoker for 20 years. Then my wife educated him on the health effects. One day he just quit cold turkey. So it’s not that you can’t quit because it’s addictive.
John Hjorth Posted October 28, 2019 Posted October 28, 2019 My father in law was a smoker for 20 years. Then my wife educated him on the health effects. One day he just quit cold turkey. So it’s not that you can’t quit because it’s addictive. Personally, I would be surprised - very - to see Berkshire investing its cash this way going forward. I don't know exactly when it popped up on the Berkshire Website, but here it is : Sustainability - likely for starters.
Spekulatius Posted October 29, 2019 Posted October 29, 2019 No drugs, booze or tobacco in Berkshire’s portfolio unfortunately. The most profitable business or those that kill people slowly.
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