Author Topic: Annual Report is out.  (Read 5860 times)

ericopoly

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Re: Annual Report is out.
« Reply #10 on: March 07, 2009, 08:35:11 AM »

The $1.5B in holding company cash is a wonderful wild card.  It is entirely conceivable that a portion of this could be used to repurchase a couple million shares at current prices, with no meaningful effect on holdco strength.  A gift from Mr. Market?

SJ


Don't forget the $1.5B is the amount they have before they pay for NB.


rmitz

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Re: Annual Report is out.
« Reply #11 on: March 07, 2009, 09:12:08 AM »
There already is such a creature...

https://www.irexshop.com/product_info.php?cPath=22_35&products_id=69&osCsid=da8958780eeee3476978a3f5a6055df7

Plus, there's Plastic Logic's product due out in 2010.  That's the game changer IMO.

http://www.plasticlogic.com/product.html

Actually, I had an iRex a couple years ago (tested it out for work).  Still not big enough for me, and frankly the construction was clunky and rather difficult to use overall.  But I am looking forward to the latter product!  That's essentially what I've been waiting for.

berkshiremystery

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Re: Annual Report is out.
« Reply #12 on: March 07, 2009, 10:48:24 AM »
Anyone know why printing the AR is not being allowed from Adobe?

vinod,...
i just wanted to let you know, that i could print a test page very well (PDF page 6/=AR page 4) with Adobe.
just don't want to waste my ink  ;)

maybe they have corrected the printing/settings error.

StubbleJumper

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Re: Annual Report is out.
« Reply #13 on: March 07, 2009, 02:38:44 PM »

The $1.5B in holding company cash is a wonderful wild card.  It is entirely conceivable that a portion of this could be used to repurchase a couple million shares at current prices, with no meaningful effect on holdco strength.  A gift from Mr. Market?

SJ


Don't forget the $1.5B is the amount they have before they pay for NB.



Good point.  I guess they can "only" re-purchase a couple million shares before going below Prem's $500m threshold for holding company cash.  ;)  :P

SJ

Viking

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Re: Annual Report is out.
« Reply #14 on: March 07, 2009, 04:32:42 PM »
Regarding hold co cash, yes NB needs to be paid for. Fortunately, they also should have decent capacity at the subs and runoff to pay another round of healthy dividends this year (based on earning last year). Lots of flexibility and lots of good options...

I wonder if FFH was in a blackout period prior to the annual being released?

oec2000

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Re: Annual Report is out.
« Reply #15 on: March 07, 2009, 06:56:04 PM »
Also, once NB is wholly-owned, they have more flexibility in "dividending" out surplus capital to holdco. The net impact on holdco cash will likely be somewhat less than the cash required for the buy out.

ericopoly

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Re: Annual Report is out.
« Reply #16 on: March 08, 2009, 05:06:15 PM »
They list their big three investments to possibly hold for the long term:
Johnson & Johnson
Kraft
Wells Fargo

Notice GE isn't on that list?  Strange since GE was a bigger holding on Dec 31st than either Kraft or Wells Fargo.

So, GE is either:
1) to be sold after a satisfying pop
2) already sold (I would find that unlikely)

I should also think that they've bought a ton more Wells Fargo.  I mean, you don't dress it up as a beauty queen in your annual report if you plan on it being just 3% of your book value as it was on December 31st.  So this ought to be a not-too-subtle hint that they now own a lot more.



Viking

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Re: Annual Report is out.
« Reply #17 on: March 08, 2009, 10:42:25 PM »
It was interesting to see the overlap in holdings with BRK. I must admit to being a little surprised by this given all the choices out there and Hamblin Watsa's historic record.