Wedgewood Partners on selling their BRK stake

[LC]

Thats why I used Costco.

 

But its not about a specific name. It s about the oddity of, his macro outlook has actually been pretty spot on, but his investing style has been flaccid and completely contradicts what's he is saying. If he thinks what he thinks(ie at worst fairly valued and at best wildly undervalued...) he really can't find ANYTHING! to invest in? Especially companies he's pointed out as having missed but admires, like GOOG which was at $1000 not to long ago or Costco? Let alone myriad others? Theres something off. IMO its because he's selfishly invested in the idea of one last giant elephant hunt. But thats just my opinion and it could be any number of other things, which as a shareholder I dont like.

 

The criticism of Buffett has always been: ignore what he says and pay attention to what he does.

 

Assuming he is still mentally sharp and interested in allocating capital @ Berkshire, his lack of purchasing signals that he we are in a high tide.

[Guest cherzeca]

Thats why I used Costco.

 

But its not about a specific name. It s about the oddity of, his macro outlook has actually been pretty spot on, but his investing style has been flaccid and completely contradicts what's he is saying. If he thinks what he thinks(ie at worst fairly valued and at best wildly undervalued...) he really can't find ANYTHING! to invest in? Especially companies he's pointed out as having missed but admires, like GOOG which was at $1000 not to long ago or Costco? Let alone myriad others? Theres something off. IMO its because he's selfishly invested in the idea of one last giant elephant hunt. But thats just my opinion and it could be any number of other things, which as a shareholder I dont like.

 

The criticism of Buffett has always been: ignore what he says and pay attention to what he does.

 

Assuming he is still mentally sharp and interested in allocating capital @ Berkshire, his lack of purchasing signals that he we are in a high tide.

 

...or signals that he is enjoying his afternoon naps.  by which I mean, both Buffett and munger have nothing left to prove.  so people who have nothing left to prove dont continue to do things that they used to do when they had something to prove. 

[meiroy]

 

With its size and structure, the only way BRK is going to be priced to outperform is with dividends.

 

 

 

[Spekulatius]

I wish BRK would detail the summarized earnings and balance sheet from their acquired subs if possible. That way we could judge if they have been successful or not. Wedgwood for example has stated that Lubrizol has not been a success, but how would we know. they bought it for ~12x earnings (post tax) so even with little growth, it should have been an Ok acquisition. Or if their any way to deduct at least the earnings of the acquired subs somehow?