2024 Q4 and Annual Report

[CassiusKing1]

On 2/22/2025 at 9:02 AM, backtothebeach said:

Q4 2024   BV per B

301.00

Cash and equivalents

321,432

(payable for treasuries deducted)

 

Operating Earnings

14,527

(insurance killing it)

 

no buybacks

 

No afternoon session at the Annual Meeting, instead a longer morning session with a break.

Currently at $510 a share, approximately 1.69 book.  I've sold some already, thinking about selling more and waiting for an opportunity to get back in cheaper.

[Spooky]

26 minutes ago, CassiusKing1 said:

Currently at $510 a share, approximately 1.69 book.  I've sold some already, thinking about selling more and waiting for an opportunity to get back in cheaper.

 

Why not just hang on for the ride? Save the taxes / transaction fees.

[Martian]

20 hours ago, boilermaker75 said:

@Martian I shouldn't perpetuate this but how is "But selling puts come with it’s own risks as the stock might crater and you are left holding the bag" any different than buying the stock? Other than you are a little better off writing the put because you have the put premium.

Writing puts to get into a position for buy and hold is not a problem. So when that stock goes down, it  will be the same as if you had bought it outright.

 

But when it’s part of the “wheel”, you can not write covered calls anymore as your assigned price will be far below the current stock price. If you want to write a CC above your assigned price, the premium will be very low even if you go months out. Then it becomes an involuntary long term position unless you want to sell and take the loss.

[RiskAdjReturn]

1 hour ago, Martian said:

Writing puts to get into a position for buy and hold is not a problem. So when that stock goes down, it  will be the same as if you had bought it outright.

 

But when it’s part of the “wheel”, you can not write covered calls anymore as your assigned price will be far below the current stock price. If you want to write a CC above your assigned price, the premium will be very low even if you go months out. Then it becomes an involuntary long term position unless you want to sell and take the loss.

imho brkb runup is crazy retail/media hype over "cash" by people who don't understand (1) you are buying that cash at 1.65x (im modeling accrued book at 3/31), (2) buffet still long 300B in equities, (3) alot of the "earnings" people are fawning over include all the spread/yield from S-T cash,etc...rolling that into equities comes at a cost Warrent won't easily take imho, (4) warren isn't gonna go nuts buying stocks in a downturn, and why pay 1.65x cash balance when i can buy equities on downturn on my own.

 

love the equity/company, just feels like its run too far.

[73 Reds]

11 minutes ago, RiskAdjReturn said:

imho brkb runup is crazy retail/media hype over "cash" by people who don't understand (1) you are buying that cash at 1.65x (im modeling accrued book at 3/31), (2) buffet still long 300B in equities, (3) alot of the "earnings" people are fawning over include all the spread/yield from S-T cash,etc...rolling that into equities comes at a cost Warrent won't easily take imho, (4) warren isn't gonna go nuts buying stocks in a downturn, and why pay 1.65x cash balance when i can buy equities on downturn on my own.

 

love the equity/company, just feels like its run too far.

You may be right but the value of cash depends on who is holding it.

[Munger_Disciple]

3 hours ago, RiskAdjReturn said:

imho brkb runup is crazy retail/media hype over "cash" by people who don't understand (1) you are buying that cash at 1.65x (im modeling accrued book at 3/31), (2) buffet still long 300B in equities, (3) alot of the "earnings" people are fawning over include all the spread/yield from S-T cash,etc...rolling that into equities comes at a cost Warrent won't easily take imho, (4) warren isn't gonna go nuts buying stocks in a downturn, and why pay 1.65x cash balance when i can buy equities on downturn on my own.

 

love the equity/company, just feels like its run too far.

 

Honorable mention (& thanks) should also go the covered call boys for the ripping of BRK 

[boilermaker75]

4 hours ago, Martian said:

Writing puts to get into a position for buy and hold is not a problem. So when that stock goes down, it  will be the same as if you had bought it outright.

 

But when it’s part of the “wheel”, you can not write covered calls anymore as your assigned price will be far below the current stock price. If you want to write a CC above your assigned price, the premium will be very low even if you go months out. Then it becomes an involuntary long term position unless you want to sell and take the loss.

 

You only do this on companies you are willing to own. It is like writing insurance. You collect the premiums and then when there is a claim what you pay out gets you a company you are willing to own. It is no different than deciding I want to buy 100 shares of BRKB outright or doing this by writing a put and getting put to at a little better price. 

 

You changed the narrative to a "wheel"??? Whether you buy the stock, or get it by being put to, you are in the same position if it craters. Is it not?

Edited 24 minutes ago by boilermaker75