Author Topic: Buffett/Berkshire - general news  (Read 631197 times)

jasonchin

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Re: Buffett/Berkshire - general news
« Reply #1550 on: April 03, 2020, 07:04:05 PM »
Wonder whether the 10% rule applies to the convertibles? If yes, he may anticipate the convertibles and actually planning in advance. Pure speculation.


Spekulatius

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Re: Buffett/Berkshire - general news
« Reply #1551 on: April 03, 2020, 07:07:37 PM »
looks to me like the tide is rolling out and warren is wearing a speedo.  happens to the best of us...

It’s just a flesh wound, as are his huge bank positions, which are also impaired. Anyways, my guess is that BRK hasn’t really bought anything substantial yet. He is likely waiting for much better bargains. He probably bought back a little stock, but that’s is most likely it.
« Last Edit: April 04, 2020, 05:29:15 PM by Spekulatius »
Life is too short for cheap beer and wine.

movys

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Re: Buffett/Berkshire - general news
« Reply #1552 on: April 03, 2020, 08:00:13 PM »
It's not a 13-f it's a 4. The trades were April 1st and 2nd. They're selling now.

+1

Berkshire owned >10% of both the airlines, so they had to report transactions immediately. Now that they are below 10% of each, they no longer have to. For all we know, Buffett could keep selling and be out completely in the coming days. We wouldn't know if that is the case until Aug 15th when the Q2-2020 13-F comes out.

As a 13G filer, doesn't BRK have to amend his 13G to disclose all transactions until he falls below 5%?

Dynamic

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Re: Buffett/Berkshire - general news
« Reply #1553 on: April 04, 2020, 05:40:31 AM »
Yeah, I was thinking about that. I seem to remember that 13G rules are different when under 10% and give much longer before filing, but in one of the cases it seemed to indicate that every time the ownership stake moves by a whole percent, I think a further filing is triggered, with the specified deadline so many days after the event that triggered it. Need to look into those rules.

At the actual close on Tuesday March 31st, prices were a little on the higher end in recent times, and at Dec 31st they closed rather lower than the prices reached in mid February. I think that if it remained relatively unchanged the portfolio would have lost about $63 billion in market value over Q1, with a $13 billion deferred tax reduction, resulting in $50 billion of market value losses.

The WFC position, if unchanged from Dec 31st at $18.6 bn at $53.80/share would have declined in market value by 46.7%, but they may well have continued selling through Jan and Feb and saved some of the $8.6 billion in losses they would otherwise have recorded. They might even have reversed course and started buying it again at around $25 per share during March. Again, the rules on filing about changes in sub 10% positions would be relevant. I think they got rid of IBM before such filings were made public, but they might have to notify the SEC alone, without such reports being public.

Munger_Disciple

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Re: Buffett/Berkshire - general news
« Reply #1554 on: April 04, 2020, 11:33:04 AM »

As a 13G filer, doesn't BRK have to amend his 13G to disclose all transactions until he falls below 5%?

No. An amended 13G is only filed once a year. Berkshire filed the 2020 amendment in Feb and they are not required file another until 2021.

bizaro86

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Re: Buffett/Berkshire - general news
« Reply #1555 on: April 04, 2020, 12:19:13 PM »

As a 13G filer, doesn't BRK have to amend his 13G to disclose all transactions until he falls below 5%?

No. An amended 13G is only filed once a year. Berkshire filed the 2020 amendment in Feb and they are not required file another until 2021.

Would they need to file an amended 13g if they went below 5%?

Munger_Disciple

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Re: Buffett/Berkshire - general news
« Reply #1556 on: April 04, 2020, 03:12:30 PM »

Would they need to file an amended 13g if they went below 5%?

I think they are not required to until 2021.

gfp

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Re: Buffett/Berkshire - general news
« Reply #1557 on: April 06, 2020, 04:53:49 AM »
Berkshire going about their regular business - with a Yen note offering, size unknown - probably small, routine refinancing

https://www.sec.gov/Archives/edgar/data/1067983/000119312520084148/d861445d424b5.htm

A few more details from Bloomberg -
"In Asia, Warren Buffett’s Berkshire Hathaway Inc. is set to join the record bonanza of corporate debt sales with a multi-tranche sale of yen-denominated bonds maturing in as long as 40 years later this week. The conglomerate is offering 10-year notes with a spread of 100-110 basis points, about double the 50 basis points it paid to sell similar-maturity notes in September."

indythinker85

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Re: Buffett/Berkshire - general news
« Reply #1558 on: April 07, 2020, 01:51:50 PM »
Many questionable labor practices at this plant of theirs https://www.valuewalk.com/2020/04/sps-technologies-precision-castparts/ - its a pretty big one it seems as well, 5000 plus employees https://www.dnb.com/business-directory/company-profiles.sps_technologies_llc.d298457fd640833efc3d80a968ab5532.html


Curious if this is true, would Buffett know about stuff like this?

Dynamic

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Re: Buffett/Berkshire - general news
« Reply #1559 on: April 08, 2020, 03:03:53 AM »
I doubt this would have reached Buffett until this report.

I am aware of another manufacturer and distributor of fastenings in another country who have issued letters to relevant employees so they can show them if stopped when traveling to work, stating that they manufacture and supply fastenings to medical equipment manufacturers and are thus essential workers. Nonetheless they recognise that it's a modest fraction of their business and seem to be taking a responsible attitude to the lockdown in furloughing many staff and having all vital admin staff work from home where possible to support the reduced level of business they are conducting and administer the furloughing etc.

Hard to guess how much is legitimate from the outside of the firm and how much is playing fast and loose with the lockdown orders. Also hard to guess if the employee source has legitimate concerns or is for example petrified of going to work or home a grudge.