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General Category => Berkshire Hathaway => Topic started by: jollyjumper324 on February 06, 2016, 06:42:01 AM

Title: Carol Loomis, Warren Buffett and Coastal States Gas
Post by: jollyjumper324 on February 06, 2016, 06:42:01 AM
Hello All!

I was listening to the Longform Podcast interview with Carol Loomis and Loomis mentioned something that piqued my curiosity at around 28:55:
http://longform.org/posts/longform-podcast-152-carol-loomis?t=28m56s

She talks about how upon first meeting Buffett in 1967, they clicked on a little bit of financial minutia where they had both been looking at a company, Coastal States Gas, where there were revenues in the footnotes that weren't in the financial statements. I looked for more about this incident and found this interview:
http://www.marketplace.org/2015/04/29/business/big-book/warren-buffett-jamie-dimon-treasury-secretary-fiscal-cliff-and-taxes

After some digging, I found the annual reports she was talking about. It's an interesting situation. Screenshots are attached.
Title: Re: Carol Loomis, Warren Buffett and Coastal States Gas
Post by: djcattlco on February 06, 2016, 07:24:56 AM
Thanks Jollyjumper324 for the post.  Interesting!
Title: Re: Carol Loomis, Warren Buffett and Coastal States Gas
Post by: Poor Charlie on February 06, 2016, 09:33:06 AM
Jolly

Thank you for sharing this! 

If you have them would you mind posting the annual reports you got the screenshots from.


Thanks
Title: Re: Carol Loomis, Warren Buffett and Coastal States Gas
Post by: jollyjumper324 on February 06, 2016, 11:22:44 AM
Reports attached.
Title: Re: Carol Loomis, Warren Buffett and Coastal States Gas
Post by: Poor Charlie on February 06, 2016, 04:12:22 PM
Reports attached.

Thanks!
Title: Re: Carol Loomis, Warren Buffett and Coastal States Gas
Post by: JBird on February 06, 2016, 05:37:06 PM
Thanks for posting-- that's great stuff.