Author Topic: Berkshire/Grant's conference  (Read 1819 times)

menlo

  • Jr. Member
  • **
  • Posts: 51
Berkshire/Grant's conference
« on: October 11, 2018, 12:16:26 PM »
Interesting thread:  https://twitter.com/MarAzul_90/status/1050161513892376576

Does anyone know much about Francine McKenna?


oddballstocks

  • Lifetime Member
  • Hero Member
  • *****
  • Posts: 2187
    • Oddball Stocks Blog
Re: Berkshire/Grant's conference
« Reply #1 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.
The ultimate edge for bank investors: http://www.completebankdata.com

rolling

  • Jr. Member
  • **
  • Posts: 90
Re: Berkshire/Grant's conference
« Reply #2 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.
My usual portfolio: Highly concentrated (up to 3 or 4 positions) in smallcaps and microcaps.

AdjustedEarnings

  • Newbie
  • *
  • Posts: 13
Re: Berkshire/Grant's conference
« Reply #3 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.

oddballstocks

  • Lifetime Member
  • Hero Member
  • *****
  • Posts: 2187
    • Oddball Stocks Blog
The ultimate edge for bank investors: http://www.completebankdata.com

maybe4less

  • Full Member
  • ***
  • Posts: 137
Re: Berkshire/Grant's conference
« Reply #5 on: October 11, 2018, 02:49:15 PM »

rolling

  • Jr. Member
  • **
  • Posts: 90
Re: Berkshire/Grant's conference
« Reply #6 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)...
My usual portfolio: Highly concentrated (up to 3 or 4 positions) in smallcaps and microcaps.

longinvestor

  • Lifetime Member
  • Hero Member
  • *****
  • Posts: 1609
  • Never interrupt compounding unnecessarily -Munger
Re: Berkshire/Grant's conference
« Reply #7 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. 

John Hjorth

  • Hero Member
  • *****
  • Posts: 1947
Re: Berkshire/Grant's conference
« Reply #8 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.
”In the race of excellence … there is no finish line.”
-HH Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the United Arab Emirates and Ruler of Dubai

The Investor

  • Newbie
  • *
  • Posts: 20
Re: Berkshire/Grant's conference
« Reply #9 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?"