Jump to content

Berkshire 13-F


Parsad

Recommended Posts

There is a more comprehensive list of changes at the Warren Buffett Watch page on cnbc: http://www.cnbc.com/id/40198762

 

Mostly a bunch of small sales and additions to WFC and JNJ. Buffett bought 16.32 million shares of WFC in Q3. According to the 10-Q, his cost basis in WFC went up by $462 million, implying that he paid about $28.31 per share. Hey, we can buy WFC for cheaper right now!  :)

Link to comment
Share on other sites

The BK position is really interesting I think.

 

I don't consider them to be a great business but at the same time, it seems like these fee-based financials are going to be in high demand going forward.

 

With the interchange charge that is hitting most banks, they are losing some crucial fee income. Plus you have issues with the consumer protection agency and loan supply/demand might not be so great either... So banks that have a ton of non-interest income should do well going forward IMO.

 

I would definitely spend some time watching the shares of trust banks, I feel like the bigger players might look to them as acquisition targets in order to diversify their income streams.

Link to comment
Share on other sites

The folks from Longleaf talked about BNY Mellon in the last OID, and even Tweedy Browne bought some in Q3. I especially like their global custody business - it is a cash cow with a substantial moat, and require almost zero capital input. They had a crap year last year and that put the stock on sale, which is a classic Buffett purchase. They are also an industry leader trading at 12.5 earnings.

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...