Author Topic: Buffett/Berkshire - general news  (Read 772233 times)

gfp

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Re: Buffett/Berkshire - general news
« Reply #950 on: November 04, 2018, 09:11:38 AM »


Orchard

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Re: Buffett/Berkshire - general news
« Reply #951 on: November 05, 2018, 08:30:13 AM »
Matt Levine has a very short take on BRK share buybacks which has an interesting quote:
Quote
But it feels presumptuous to think that Berkshire’s shareholders would be better stewards of their cash than Buffett is.

Full take is in the middle of his today's Money Stuff column:
https://www.bloomberg.com/opinion/articles/2018-11-05/expensive-stocks-make-for-good-bonds

Cigarbutt

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Re: Buffett/Berkshire - general news
« Reply #952 on: November 07, 2018, 06:20:06 AM »
This article is an update on the ballot item in Nevada to open up NV Energy's regulated monopoly to more choice.  Obviously NV Energy would still own the distribution infrastructure.  BHE has been spending a lot of money on lobbying / advertising.  Some large individual casinos had already won the right to pay a termination fee and buy their power from an independent producer. 

https://www.politico.com/story/2018/10/27/adelson-buffett-nevada-890190
https://www.rgj.com/story/news/politics/2018/11/06/63-million-spent-defeat-nevadas-question-3-worked/1908835002/

gfp

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gfp

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Re: Buffett/Berkshire - general news
« Reply #954 on: November 08, 2018, 12:22:38 PM »
Don Graham article on the recent accounting changes that result in goofy net income figures at Berkshire:
https://www.wsj.com/articles/i-cant-see-berkshires-bottom-line-1541636012?mod=searchresults&page=1&pos=1

Dynamic

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Re: Buffett/Berkshire - general news
« Reply #955 on: November 09, 2018, 04:18:58 AM »
A new SEC filing of type SC 13G has appeared, disclosing an 11.3% stake in StoneCo Ltd. (ticker: STNE) of São Paulo, Brazil (14,166,748 shares of Common Stock)

None of this is attributable to Berkshire's pension funds - all is held via National Indemnity Company.

The IPO came after 30th Sep 2018 so it will not appear in the 13-F filings which are likely to be released in the middle of next week.

The price since IPO on 25th Oct has been between about $27 and $31 per share. At current price of $27.70, the stake is priced at $392 million USD. The IPO price was $24 per share, Berkhire's stake presumably having cost $340,001,952.

The 13G filing must be made within 10 business days of acquisition of a 5% stake, so it's likely to have been acquired on 25th October at IPO.
« Last Edit: November 09, 2018, 04:50:05 AM by Dynamic »

gfp

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Re: Buffett/Berkshire - general news
« Reply #956 on: November 09, 2018, 06:42:25 AM »
Yeah, Berkshire's involvement was in the IPO prospectus (which doesn't help you get a lower price - wonder why they did that?)

The Walton family VC vehicle Madrone owned a lot and added 2.75m shares in the IPO and management at Madrone told Todd Combs about it and Todd decided to invest.  There are some 3G principals invested in it as well - I believe from an earlier round.

Jurgis

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Re: Buffett/Berkshire - general news
« Reply #957 on: November 09, 2018, 12:04:12 PM »
Todd and Ted would (might?) be great if BRK was 10-100 times smaller. At this size it's going to be tough ... for anyone, even Buffett himself.
"Human civilization? It might be a good idea." - Not Gandhi
"Before you can be rich, you must be poor." - Nef Anyo
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John Hjorth

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Re: Buffett/Berkshire - general news
« Reply #958 on: November 09, 2018, 01:20:39 PM »
Todd and Ted would (might?) be great if BRK was 10-100 times smaller. At this size it's going to be tough ... for anyone, even Buffett himself.

Jurgis, they just have to deliver, according the their signed contract with Berkshire. No soft feelings here from me. They are hired to deliver.
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rb

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Re: Buffett/Berkshire - general news
« Reply #959 on: November 09, 2018, 01:46:28 PM »
Nah, they'll be ok. This is how it goes. One Monday Todd walks into the office and goes.... Hey Ted, let's go talk to the old man about buying GE. Done.

See... it's not that hard.