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Steak'n Shakes Berkshire Dreams


Parsad
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Guest Bronco

I think they muffed the combined ratio explanation.  $1 in premiums <> $1.03 in claims, but $1.03 in claims + expenses.

 

I am rooting for this deal still...too interesting to root against.  Here's a tab:

 

1) Share count similar to Berkshire

2) A and B shares similar to Berk

3) Symbol BH

4) Capital allocation model

5) Buying an insurance company

 

What's not to like here?  Plus, this guy (Biglari) is Lebron James - everyone hates him, but he is a good performer.  Paid like Lebron too.

 

Even if you don't own the stock, BH is tough not to watch.  I'm rubbernecking on this one.

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What's not to like here?  Plus, this guy (Biglari) is Lebron James - everyone hates him, but he is a good performer.  Paid like Lebron too.

 

I prefer Wayne Gretzky, Peyton Manning and Magic Johnson...or even Kobe and Dwayne Wade...not a LeBron fan, and he is going to lose in seven to Boston.  By the way Bronco, have you noticed that we sit on top of the league with 1-2 games on hand on everyone!  Cheers!

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Guest Bronco

Plenty of time for them to choke yet.  You bring up a good point - the Sedins are much more hated than Lebron.  Who likes those twin punks?

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"I prefer Wayne Gretzky, Peyton Manning and Magic Johnson...or even Kobe and Dwayne Wade...not a LeBron fan, and he is going to lose in seven to Boston.  By the way Bronco, have you noticed that we sit on top of the league with 1-2 games on hand on everyone!  Cheers!"

 

I would put Derek Jeters and Tom Brady amongst those three names too, Sanjeev.

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Yup, I like both of them too!  I actually met Jeter about four years ago in Manhattan.  I was walking through the Nike Store and he walked by me.  Like any rabid fan I yelled out "Derek Jeter!  Dude, I love you man!"  He politely shook my hand and said "Thanks buddy!"  ;D  Cheers!

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An observation (with neither a negative or positive tone to it):

 

I am always surprised that people on this board have an interest in sports... Investment (well, more specifically, value investment) doesn't seem to be the type of thing that would have disciples that would like such things. Don't get me wrong, I take in an occasional game, and like to occasionally go see some pro stuff in person, but, still, I am surprised.

 

Thoughts on this?

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You actually said Dude

 

Yup!   ;D  And my brother walking behind me said "Dude, you are awesome!" to him too!

 

An observation (with neither a negative or positive tone to it):

 

I am always surprised that people on this board have an interest in sports... Investment (well, more specifically, value investment) doesn't seem to be the type of thing that would have disciples that would like such things. Don't get me wrong, I take in an occasional game, and like to occasionally go see some pro stuff in person, but, still, I am surprised.

 

Thoughts on this?

 

Buffett is a sports junkie!  I think his biggest past-times outside of investing are Bridge and watching sports.  I'm a hockey, football, basketball, boxing and tennis junkie myself.  I know plenty of other value investors who love sports.  

 

It adds balance to my life.  I don't go to parties, I don't sail on yachts...I like reading and looking for investment ideas, and then I like watching my favorite sports and playing hockey Tuesday nights...that's pretty much it for me.  Sundays I watch football pretty much from morning to night, while surfing the net.  Friday nights and Saturdays I go out, but the rest of the week is much the same.  I like it like that.

 

Pretty much every day during the week...wake up, shower, go to office...check emails, market, read papers on the way...have a coffee and muffin for breakfast... return phone calls, get administrative work done...coffee/tea and sandwich for lunch...look for more ideas, read some more, any other work that needs to be completed...leave work, listen to music and read on the way home...dinner, watch sports or news, read and go to sleep...TV in my bedroom stays on all night on Bloomberg Sunday to Thursday...CNN on weekends.  I can't sleep without noise for some reason!  Weird!  Even in hotels with those damn Heavenly Beds, I need the tv or radio on.  

 

As you can see, I don't think there is any single definition or correlating characteristic for value investors, except that we all love a bargain!  Cheers!  

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Parsad I dont know how you find the time. Everyone thinks im the most efficient person they know, but you remind me of that army commercial.  "We do more before 9AM than most people do all day." You definitely do more then me. I am a happy man if I can sleep till 8 AM.

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Parsad I dont know how you find the time. Everyone thinks im the most efficient person they know, but you remind me of that army commercial.  "We do more before 9AM than most people do all day." You definitely do more then me. I am a happy man if I can sleep till 8 AM.

 

No, it just seems that way.  I don't have a wife, or kids.  I raised my brother from the age of 9 after our father died...I was 21.  Once he was in University, I decided that I wanted to focus on my career.  So my life at this stage is really all about my business...it's my baby! 

 

Usually when I watch sports, it's with my brother, friends, etc.  We play hockey every Tuesday night with about 10 of our friends as well.  I go to the occasional wedding or party on the weekends, but really I like to spend it around the house reading or watching football and hockey.  So, it just seems like I'm busy, but it's only because I probably have less outside responsibilities in my life, whereas most other people my age have spouses, children and now even grandchildren!  ;D 

 

By the way, I do sleep till 7:30am each morning, but I don't go to sleep till 1 or 2 am.  The best thing I did was switch to public transit a couple of years ago to get to the office each day.  I'm not wasting time in traffic anymore.  That's where I check emails, the markets and read alot of my news online, and often a 10-K or two.  I get an extra 45 minutes of work done each way, with virtually no more stress from being stuck behind other drivers! 

 

I pick up my coffee and muffin from Starbucks next to my building and I'm good to go as soon as I sit down at my desk.  And because I usually eat lunch at my desk, I don't waste an hour plus at a restaurant or cafe...something I heard that Jimmy Pattison does...it works!  I only go out of the office if I have a meeting or something...so I get alot of work done in my day compared to most people.  My life is awesome!  I love what I do and I really do have fun every day.  Cheers!

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