Author Topic: Buy Berkshire!  (Read 7534 times)

Parsad

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Buy Berkshire!
« on: February 19, 2009, 08:57:58 AM »
Here's another of your twenty punches.  My friend John Zemanovich and I were talking yesterday, and we think we are now getting very close to the same point in time when Buffett last issued a statement that he would be buying back shares.  My estimate is that in the $72-75K range would put it in the same ballpark as in 2000, when the stock was in the $43-45K range and Buffett announced the buyback offer.  The next time it gets this cheap will be sadly when our dear Warren leaves this earth.  We'll see if Buffett says anything in the letter this year if prices stay where they are.  Cheers!   
No man is a failure who has friends!


zarley

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Re: Buy Berkshire!
« Reply #1 on: February 19, 2009, 09:16:11 AM »
I've been watching the prices today . . . wondering what's up.  $2,500 for the B's seems pretty crazy.

I agree about the low $70k range on the A's being close to a buyback price.  Recall Munger's actions in Nov when it got this low.  I believe he sold some A's to his family members around these prices, in a sort of pre-emptive distribution of his BRK holdings. 

Grenville

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Re: Buy Berkshire!
« Reply #2 on: February 19, 2009, 09:18:43 AM »
Munger's Transacation

Class A Common Stock    ( 1 )   11/20/2008      S         2,000    ( 2 )    ( 2 )   See footnote 1    ( 1 )   $77,500 ( 3 )   13,181   D   

http://www.sec.gov/Archives/edgar/data/1067983/000118143108063602/xslF345X03/rrd224408.xml

benhacker

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Re: Buy Berkshire!
« Reply #3 on: February 19, 2009, 09:19:52 AM »
Berkie is down because of the underlying stocks are down (if I had to guess) that he owns.  

Lots of wild stuff today.  Wells Series L preferred just dropped 20% today to 35% of par... 20+% yield.

For those who kept powder dry, I envy you a LOT!

Best of luck to everyone navigating this, now is the time.

Ben
Ben Hacker
Beaverton, Oregon - USA

berkshiremystery

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Re: Buy Berkshire!
« Reply #4 on: February 19, 2009, 09:25:16 AM »
Sanj,...

I agree with you & zemanovich, the last time when i bought some brk was in the year 2000.
brk is quite a bargain at these prices now,... anyway it could drop a little lower.
but i'm not becoming a fortune teller for your amusement  ;D

zarley

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Re: Buy Berkshire!
« Reply #5 on: February 19, 2009, 09:26:09 AM »
Munger's Transacation

Class A Common Stock    ( 1 )   11/20/2008      S         2,000    ( 2 )    ( 2 )   See footnote 1    ( 1 )   $77,500 ( 3 )   13,181   D   

http://www.sec.gov/Archives/edgar/data/1067983/000118143108063602/xslF345X03/rrd224408.xml


Thanks Grenville, that's the one I was thinking of.  

StubbleJumper

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Re: Buy Berkshire!
« Reply #6 on: February 19, 2009, 09:49:20 AM »
Yeah, over the past two days I've been all over the WFC-L preferred shares like a fly on s&^t!

Thanks OEC!

SJ

misterstockwell

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Re: Buy Berkshire!
« Reply #7 on: February 19, 2009, 10:11:57 AM »
Has anybody gotten the definitive answer on just what the WFC-L converts into?

JAllen

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Re: Buy Berkshire!
« Reply #8 on: February 19, 2009, 10:41:54 AM »
I believe Munger's transaction was a gift and doing it at a lower price would reduce the gift tax for the recipient, of course.

Kentinvestor

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Re: Buy Berkshire!
« Reply #9 on: February 19, 2009, 11:22:05 AM »
From the IRS website:

"Who pays the gift tax?
The donor is generally responsible for paying the gift tax. Under special arrangements the donee may agree to pay the tax instead. Please visit with your tax professional if you are considering this type of arrangement."

Do you suppose Charlie made those "special arrangements?"