Author Topic: Buffett/Berkshire - general news  (Read 301167 times)

RichardGibbons

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Re: Buffett/Berkshire - general news
« Reply #770 on: May 14, 2018, 06:15:52 PM »
Hmmm....  To read this article you would think Berkshire didn't pay much to the tax man?!

Yeah, I find the article bizarre. It seems like he's trying to vilify corporations, alleging that they're doing something wrong, when as far as I can tell, they're simply following the law. What's more, the ethical thing for the corporations to do is to operate in a tax-efficient manner, not paying more than required (and depending on how they paid more than required, I imagine it might actually break the law to pay more than required.)

Really, if the author has a problem, he ought to be complaining about elected officials who create the laws and give in to corporate lobbyists, not the corporations who simply follow the law.


Cigarbutt

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Re: Buffett/Berkshire - general news
« Reply #771 on: May 14, 2018, 08:00:13 PM »
Hmmm....  To read this article you would think Berkshire didn't pay much to the tax man?!

https://www.commondreams.org/views/2018/05/14/kindly-87-year-old-man-who-took-all-schoolkids-lunch-money

Article is biased and uses incomplete information. And poor choice of words.
I would add that Mr. Buffett has not used off-shore tax havens reinsurance associates when this could have been considered to be a competitive disadvantage not to do so.

From the Supreme Court, Judge Learned Hand (1934):  "[a]nyone may arrange his affairs so that his taxes shall be as low as possible; he is not bound to choose that pattern which best pays the treasury. There is not even a patriotic duty to increase one's taxes.”

The Judge also said: "...taxes are enforced exactions, not voluntary contributions. To demand more in the name of morals is mere cant."

Personal attacks, especially if ill-founded, do not add anything constructive to the debate.

John Hjorth

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netnet

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Re: Buffett/Berkshire - general news
« Reply #773 on: May 15, 2018, 03:01:27 PM »
Hmmm....  To read this article you would think Berkshire didn't pay much to the tax man?!

https://www.commondreams.org/views/2018/05/14/kindly-87-year-old-man-who-took-all-schoolkids-lunch-money
I'm not a low tax libertarian type, and even I think that article was a bunch of whooey and if you go back and look at the references, it's even worse. 

Basically, the articles it is based on say that by buying companies, those (now) subsidiaries' dividend is not taxable ??? it also confuses the deferred taxes on long held investments as taxes 'owed'.

Charlie

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Re: Buffett/Berkshire - general news
« Reply #774 on: May 16, 2018, 07:57:09 AM »
Whitney Tilsons latest Berkshire analysis:

https://www.tilsonfunds.com/TilsonBRK.pdf


Cheers!  :)

netnet

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Re: Buffett/Berkshire - general news
« Reply #775 on: May 16, 2018, 10:27:07 AM »
Whitney Tilsons latest Berkshire analysis:

https://www.tilsonfunds.com/TilsonBRK.pdf


Cheers!  :)

Anyone wish to opine on Tilson's analysis?

John Hjorth

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Re: Buffett/Berkshire - general news
« Reply #776 on: May 16, 2018, 10:34:13 AM »
Anyone wish to opine on Tilson's analysis?

For my part: Yes, it's a miss.
”In the race of excellence … there is no finish line.”
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longinvestor

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Re: Buffett/Berkshire - general news
« Reply #777 on: May 16, 2018, 12:14:57 PM »
Anyone wish to opine on Tilson's analysis?

For my part: Yes, it's a miss.
+1

Seen in the backdrop of Semper Augustus’s seminal work, this is weak.

John Hjorth

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Re: Buffett/Berkshire - general news
« Reply #778 on: May 16, 2018, 12:21:58 PM »
Anyone wish to opine on Tilson's analysis?

For my part: Yes, it's a miss.
+1

Seen in the backdrop of Semper Augustus’s seminal work, this is weak.

To me, it's so true, what longinvestor is posting here. If you're interested in Berkshire, the Semper Augustus letters should catch your attention. [I have posted about them recently. - The B trading at around ~200, while intrisic value is estimated in the Semper Augustus Letters to be around ~250 for the B.]
”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

racemize

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Re: Buffett/Berkshire - general news
« Reply #779 on: May 16, 2018, 12:32:50 PM »
While I think Semper has done some great work on Berkshire, I'd say Tilson has provided a good service of updating this valuation over the years.  It makes sense, doesn't require 50 pages of explanation, and is within the range of a reasonable IV.  As Buffett says, you don't need a scale to tell if a man is overweight.