Corner of Berkshire & Fairfax Message Board

General Category => Berkshire Hathaway => Topic started by: menlo on October 11, 2018, 12:16:26 PM

Title: Berkshire/Grant's conference
Post by: menlo on October 11, 2018, 12:16:26 PM
Interesting thread:  https://twitter.com/MarAzul_90/status/1050161513892376576

Does anyone know much about Francine McKenna?
Title: Re: Berkshire/Grant's conference
Post by: oddballstocks on October 11, 2018, 12:23:27 PM
She is excellent when it comes to forensic accounting.  When she identifies a red flag it's worth listening.

I've long suspected BRK has some cockroaches, but it's interesting to see someone publicly mention this at Grants.
Title: Re: Berkshire/Grant's conference
Post by: rolling on October 11, 2018, 12:56:15 PM
She is excellent when it comes to forensic accounting.  When she identifies a red flag it's worth listening.

I've long suspected BRK has some cockroaches, but it's interesting to see someone publicly mention this at Grants.
It would be interesting to read what she said. However, After reading half of the 2011 article, I couldn't finish reading, since she seemed biased and wasn't comparing apples with apples. However, it is almost certain that some subsidiary will have problems and, as she quoted, to check if they are ruthless in dealing with them.
Title: Re: Berkshire/Grant's conference
Post by: AdjustedEarnings on October 11, 2018, 01:06:56 PM
She tweeted that she'd post her presentations on her blog. I've been waiting to see them as well. She's been around for some time and this is not the first time she's said something about BRK. I recall seeing her criticism of BRK's deal for BAC preferred/warrants as well. Still want to see the presentation though. If it's about purchase price allocations and amortizations for Marmon, I'd be really disappointed.
Title: Re: Berkshire/Grant's conference
Post by: oddballstocks on October 11, 2018, 01:33:33 PM
Here is something from 2011: http://retheauditors.com/2011/09/02/the-berkshire-hathaway-corporate-governance-performance/
Title: Re: Berkshire/Grant's conference
Post by: maybe4less on October 11, 2018, 02:49:15 PM
Here is something from 2011: http://retheauditors.com/2011/09/02/the-berkshire-hathaway-corporate-governance-performance/

Well, that blog post was a whole lot of nothing.
Title: Re: Berkshire/Grant's conference
Post by: rolling on October 11, 2018, 03:25:53 PM
Here is something from 2011: http://retheauditors.com/2011/09/02/the-berkshire-hathaway-corporate-governance-performance/

Well, that blog post was a whole lot of nothing.
If I understand correctly in part of the article her main point is that his investment in BAC was only an opportunity for him get more fame and that he wasn't acting as a good fiduciary... 7 years later it's more than a quadruple (and we are in a downturn)...
Title: Re: Berkshire/Grant's conference
Post by: longinvestor on October 12, 2018, 08:19:21 AM
OMG, it's them roaches again. They show up every couple of years; Like the newspaper report on predatory lending @ Clayton; the long lost grand daughter cut out of her inheritance, leadership troubles at Benjamin Moore...and now this.

We are doomed. 
Title: Re: Berkshire/Grant's conference
Post by: John Hjorth on October 12, 2018, 09:29:16 AM
Obviously, Miss [or Mrs.] McKenna is by attitude short incompetent auditors and auditors clients, who play the game. That's to me OK. So, basically, here, she's taking on Mr. Hamburg, what ever she has up in her sleeve right now. It'll be interesting to follow going forward, for sure.
Title: Re: Berkshire/Grant's conference
Post by: The Investor on October 13, 2018, 09:47:32 PM
OMG, it's them roaches again. They show up every couple of years; Like the newspaper report on predatory lending @ Clayton; the long lost grand daughter cut out of her inheritance, leadership troubles at Benjamin Moore...and now this.

We are doomed.

Haha.

That along with the obligatory "Has Buffett lost his touch?"
Title: Re: Berkshire/Grant's conference
Post by: John Hjorth on October 30, 2018, 11:20:29 AM
I think it was yesterday, that I read a Twitter thread (https://twitter.com/retheauditors/status/1056976205696655360) by Francine McKenna about Berkshire.

Honestly, to me, she does not know what she's talking about. Absolutely rubbish to me.

Edit:

To me, a bit like the SIRF Report [March 11th 2013] (http://sirf-online.org/2013/03/11/paper-world-of-brookfield-asset-management/) about Brookfield Asset Management Inc.