Author Topic: Buffett/Berkshire - general news  (Read 524475 times)

John Hjorth

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Re: Buffett/Berkshire - general news
« Reply #990 on: December 08, 2018, 01:28:06 PM »
Thank you for sharing, globalfinancepartners,

Empire building cont'd, now chapter <unknown>.

Hasen't Mr. Buffett been silent [cheap with interviews] for a quite long period of time now? - I  suppose his actual modus operandi right now is buying.
”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


gfp

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Re: Buffett/Berkshire - general news
« Reply #991 on: December 08, 2018, 06:02:22 PM »
It seems like he is feeling his age more and more and stepping back quite a bit. Luckily he has created a structure that requires very little minutiae from him personally and he is still all there for the important bits. Charlie’s 50th anniversary letter captures the current situation quite well, although it would have benefited from an editor’s touch -

http://www.berkshirehathaway.com/SpecialLetters/CTM%20past%20present%20future%202014.pdf

Thank you for sharing, globalfinancepartners,

Empire building cont'd, now chapter <unknown>.

Hasen't Mr. Buffett been silent [cheap with interviews] for a quite long period of time now? - I  suppose his actual modus operandi right now is buying.

gfp

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Re: Buffett/Berkshire - general news
« Reply #992 on: December 10, 2018, 07:28:04 PM »
good general overview and farewell from Matt Rose - some interesting stuff on the potential or lack thereof for rail mergers, etc -->
https://www.railwayage.com/freight/class-i/matt-rose-less-is-not-better/

Spekulatius

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Re: Buffett/Berkshire - general news
« Reply #993 on: December 10, 2018, 08:50:09 PM »
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
Thanks for the link.
The question is limited to one state but may represent a larger current.

I live in a place where electricity is essentially a vertically-integrated regulated monopoly (wholesale and retail) with hydro responsible for more than 90% of electricity needs and with policies in place favoring low and uniform prices and in a relatively steady place versus the socio-political sphere. But I really like what has been going on in the US considering the experiments with various deregulation plans. It's noisy and sometimes disruptive and inelegant but it seems like it's the best way to go IMO.

What is happening in Nevada (it seems like the ballot item will pass?) may be part of more to come at the national level and underlines the risks of transition costs and partial recovery of the value of stranded assets and I guess BH can manage transitions but investments in regulated utilities does rely on trust versus potential regulatory harm.

The context in Nevada is fascinating with the recent residential solar issues and the ballot question does not go along traditional political divisions.

I've looked into the issue, from a Nevada perspective, and come to the conclusion that it is very hard to decide what is best on a net basis for "society". In terms of consumer costs, I wonder if the Nevada experience would look more like California or more like Texas. I would tend to vote against the trend and for BH (bias here) because of the traditional reasons that it has used to justify the venture into regulated utilities (efficient operations, low cost of capital, reasonable rates of return, long-term outlook with stable and low retail prices and flexibility for alternative sources of energy and environmental concerns).

Found the following to be useful:
https://guinncenter.org/wp-content/uploads/2018/07/Guinn-Center-Q3-2018.pdf
https://guinncenter.org/wp-content/uploads/2018/07/Guinn-Center-Q3-Voter-Guide-2018.pdf

But this is not simply a story about two billionaires.

A town in my neighborhood in MA has bought out their electricity distribution network from the utility a couple of years ago and they seem to be doing quite well with it. Prices are lower than in surrounding towns and their electricity network is more reliable it seems, since they are doing a better job maintaining it. This micro utility still purchases their power wholesale.
Life is too short for cheap beer and wine.

nickenumbers

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Re: Buffett/Berkshire - general news
« Reply #994 on: December 11, 2018, 05:43:16 AM »
good general overview and farewell from Matt Rose - some interesting stuff on the potential or lack thereof for rail mergers, etc -->
https://www.railwayage.com/freight/class-i/matt-rose-less-is-not-better/

GlobalFinPart- This is a great article.  Thanks very much for sharing it.  I am learning and lot from Matt Rose and enjoying the heck out of it.
The fastest Cheetah still waits for the lame baby antelope.  ..patience..

alpha

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Re: Buffett/Berkshire - general news
« Reply #995 on: December 12, 2018, 06:21:40 PM »
good general overview and farewell from Matt Rose - some interesting stuff on the potential or lack thereof for rail mergers, etc -->
https://www.railwayage.com/freight/class-i/matt-rose-less-is-not-better/

Great interview, thanks for sharing.

gfp

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Re: Buffett/Berkshire - general news
« Reply #996 on: December 13, 2018, 05:10:44 AM »
glad y'all found the interview interesting.  I definitely got some questions from my fellow jurors in criminal jury duty who were looking over my shoulder wondering why I was reading "RailwayAge" magazine...  Last day of Jury Duty is today - unless they keep me on this child sexual abuse case that will last 3 days.  Every single case I have been through voir dire on over the two week period has been some dude sexually assaulting a minor girl.  Yuck.

gfp

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Re: Buffett/Berkshire - general news
« Reply #997 on: December 17, 2018, 07:59:05 AM »
Greg Abel announcing the new CEO for Marmon.  Not a surprise, but nice to see Greg is truly the direct report.

https://www.citizentribune.com/news/business/angelo-pantaleo-will-assume-top-post-at-marmon-holdings/article_e648e29c-eff9-5322-b8f8-d27d4aab8115.html

John Hjorth

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« Last Edit: December 19, 2018, 05:02:47 AM by John Hjorth »
”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

wisowis

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Re: Buffett/Berkshire - general news
« Reply #999 on: December 20, 2018, 10:50:21 AM »