Author Topic: Buffett/Berkshire - general news  (Read 523113 times)

Orchard

  • Jr. Member
  • **
  • Posts: 69
Re: Buffett/Berkshire - general news
« Reply #1340 on: September 19, 2019, 05:34:17 AM »
From NY Post:
Quote
Cool was named CEO of Pampered Chef, which enlists home chefs to help sell its cookware, in 2014. The company’s revenue has fallen from $320 million in 2015 to $280 million in 2018, according to Direct Selling News.

Buffett told the Journal that Pampered Chef’s second quarter revenue was up 19 percent, but failed to mention the revenue losses since Cool — who joined the company as a financial assistant straight from Harvard — has taken the helm.


Mephistopheles

  • Hero Member
  • *****
  • Posts: 1568
Re: Buffett/Berkshire - general news
« Reply #1341 on: September 19, 2019, 06:30:10 AM »
From NY Post:
Quote
Cool was named CEO of Pampered Chef, which enlists home chefs to help sell its cookware, in 2014. The company’s revenue has fallen from $320 million in 2015 to $280 million in 2018, according to Direct Selling News.

Buffett told the Journal that Pampered Chef’s second quarter revenue was up 19 percent, but failed to mention the revenue losses since Cool — who joined the company as a financial assistant straight from Harvard — has taken the helm.

Not surprised. It appears Buffett's bias in favor of women reveals itself yet again. Would a male have had the same opportunity and career trajectory right out business school?

Dynamic

  • Hero Member
  • *****
  • Posts: 562
Re: Buffett/Berkshire - general news
« Reply #1342 on: September 19, 2019, 08:12:53 AM »
Maybe you're right, Mephistopheles. Perhaps there's a counterpoint. I think the rapid rise of Ajit Jain, despite not being experienced in the insurance business may be a parallel for someone like Tracy Britt Cool. Perhaps Tracy Britt Cool is just a person with the right stuff to really make a positive difference and impressed right from the start.

Spekulatius

  • Hero Member
  • *****
  • Posts: 3562
Re: Buffett/Berkshire - general news
« Reply #1343 on: September 19, 2019, 10:19:09 AM »
Tracy monetizes her experience gained with Buffet . Nothing wrong with this, but no guarantee for success either. The problem with anyone starting out with a BRK copycat is if they can afford to be patient.

There are plenty of holding companies with good capital allocators that can be bought at a discount to NAV.
Life is too short for cheap beer and wine.

abitofvalue

  • Full Member
  • ***
  • Posts: 237
Re: Buffett/Berkshire - general news
« Reply #1344 on: September 19, 2019, 04:10:56 PM »
Interesting that WEB already came out and said he wouldnt be investing..

Spekulatius

  • Hero Member
  • *****
  • Posts: 3562
Re: Buffett/Berkshire - general news
« Reply #1345 on: September 19, 2019, 06:47:55 PM »
Interesting that WEB already came out and said he wouldnt be investing..

Why would he? If she can do deals that are too small for BRK, the gains won’t  be material. If she were to compete with BRK he doesn’t have a reason to invest in her vehicle either.
Life is too short for cheap beer and wine.

stahleyp

  • Lifetime Member
  • Hero Member
  • *****
  • Posts: 3120
Re: Buffett/Berkshire - general news
« Reply #1346 on: September 20, 2019, 08:18:31 AM »
Interesting that WEB already came out and said he wouldnt be investing..

Why would he? If she can do deals that are too small for BRK, the gains won’t  be material. If she were to compete with BRK he doesn’t have a reason to invest in her vehicle either.

Where did you guys see this?

His personal account is way smaller so I would imagine he would invest with her if he thought she would do better. Look at Munger and Li Lu.
Paul

gfp

  • Lifetime Member
  • Hero Member
  • *****
  • Posts: 1836
Re: Buffett/Berkshire - general news
« Reply #1347 on: September 25, 2019, 05:52:06 AM »
In the absence of any real material Berkshire related news in ages, we can at least read about this interesting real estate development in Omaha that Applied Underwriters is leading -
https://www.omaha.com/money/applied-underwriters-celebrates-work-on-heartwood-preserve-development-touts-natural/article_d4ef8492-37c8-595f-aa64-151f3d20673a.html

Here's hoping for "Berkshire Hathaway acquires ExxonMobil" or similar headline sometime soon..

oscarazocar

  • Newbie
  • *
  • Posts: 29
Re: Buffett/Berkshire - general news
« Reply #1348 on: September 25, 2019, 06:26:49 AM »
Interesting that WEB already came out and said he wouldnt be investing..

Why would he? If she can do deals that are too small for BRK, the gains won’t  be material. If she were to compete with BRK he doesn’t have a reason to invest in her vehicle either.

Where did you guys see this?

His personal account is way smaller so I would imagine he would invest with her if he thought she would do better. Look at Munger and Li Lu.

It was in the stories the day of the announcement.  From WSJ: "Mr. Buffett said he understood Ms. Britt Cool’s decision because he also left a job he loved, at his mentor Benjamin Graham’s investment firm, to work for himself in 1956. He added that he doesn’t intend for Berkshire to invest in Ms. Britt Cool’s new venture."

I think he may have said that more reasons than that he didn't think she would succeed.  First, he didn't say that he wouldn't invest, but that Berkshire wouldn't invest.  We have no idea what he does personally; my guess is that he does not invest in other people's funds based on his history.  Can anyone recall a single instance when he did that?  He has never been one to outsource his personal investing.  Second, if Berkshire invested in Britt's new vehicle, that might set a bad precedent.  Buffett doesn't want to give an incentive for people to leave Berkshire, and he probably doesn't want to be in a position of having people leave and investing in some but not others.

Dynamic

  • Hero Member
  • *****
  • Posts: 562
Re: Buffett/Berkshire - general news
« Reply #1349 on: September 25, 2019, 06:33:07 AM »
In the absence of any real material Berkshire related news in ages, we can at least read about this interesting real estate development in Omaha that Applied Underwriters is leading -
https://www.omaha.com/money/applied-underwriters-celebrates-work-on-heartwood-preserve-development-touts-natural/article_d4ef8492-37c8-595f-aa64-151f3d20673a.html

Here's hoping for "Berkshire Hathaway acquires ExxonMobil" or similar headline sometime soon..

And for those unable to read the story thanks to GDPR, it's also on archive.org here.