Berkshire Hathaway (BRK)

Re: Berkshire Hathaway (BRK)

Postby behappyalways » Mon Feb 26, 2018 7:05 pm

Here are the highlights from Warren Buffett's annual letter to Berkshire Hathaway shareholders
https://www.cnbc.com/2018/02/24/highlig ... etter.html
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Re: Berkshire Hathaway (BRK)

Postby winston » Wed Apr 18, 2018 1:22 pm

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Best Stocks to Buy for the Next Decade: Berkshire Hathaway (BRK.B)

Warren Buffett is 87 years old. Eventually, he’s going to step out of the game. The argument is that his departure will create a panic that will send Berkshire Hathaway Inc. (NYSE:BRK.A, NYSE:BRK.B) stock spiraling downward.

Personally, I don’t subscribe to that theory.

Businesses — whether it be a huge holding company like Buffett’s or something much less grandiose — are valued by calculating the present value of its future cash flows. Berkshire Hathaway’s are significant.

Another way is to value a business is to look at the sum of all its parts.

Berkshire Hathaway owns hundreds of businesses; each of these firms, if sold at auction, would be worth more than the current stock price would seem to reflect.

If Buffett moved on and the company was broken up in a prudent manner over an extended period, Berkshire Hathaway investors would benefit greatly from such a process.

The best part of Berkshire Hathaway? You get a quasi-mutual fund with a diversified group of holdings and no management fees.

That’s the best kind of buy-and-hold investment.

Source: Investor Place
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Re: Berkshire Hathaway (BRK)

Postby winston » Fri Oct 19, 2018 9:22 pm

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Why Berkshire Hathaway May Be Undervalued by Almost 20%

By Jon C. Ogg

Nearly 40% of its over $500 billion market capitalization can be attributed at the current time to its public equity holdings.




Source: 24/7 Wall Street

https://247wallst.com/investing/2018/10 ... Newsletter
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Re: Berkshire Hathaway (BRK)

Postby winston » Mon Dec 03, 2018 8:16 pm

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Berkshire Hathaway (BRK)

Major stakes in Coca-Cola (NYSE:KO) and American Express (NYSE:AXP), among many others, have been long-term winners.

Wholly-owned businesses include insurers Geico and General Re; railroad company Burlington Northern Santa Fe; apparel maker Fruit of the Loom; battery manufacturer Duracell; and consumer brands Dairy Queen and See’s Candies.

To be sure, Buffett has taken on risks from time to time. Perhaps most famously, he invested $5 billion in Goldman Sachs (NYSE:GS) near the depths of the financial crisis.

And the “Oracle of Omaha” largely has missed out on the tech boom. The firm has exited its biggest investment in the sector, IBM (NYSE:IBM), at a loss.

Still, Berkshire continues to be an impressive long-term winner — and it might be back toward being cheap enough.

Buffett himself thinks so: Berkshire repurchased nearly $1 billion of its own stock in the third quarter.

Source: Investor Place
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Re: Berkshire Hathaway (BRK)

Postby winston » Sat Jan 12, 2019 7:41 am

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This Stock Has Beat the Market in 10 of the Last 13 Years

by Matthew Frankel

Source: Motley Fool

https://www.fool.com/investing/2019/01/ ... ast-1.aspx
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Re: Berkshire Hathaway (BRK)

Postby behappyalways » Tue Feb 26, 2019 8:40 pm

BERKSHIRE HATHAWAY INC.
SHAREHOLDER LETTERS
http://www.berkshirehathaway.com/letters/2018ltr.pdf
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Re: Berkshire Hathaway (BRK)

Postby behappyalways » Fri Mar 01, 2019 1:20 pm

Buffettology

What four decades of correspondence from the Oracle of Omaha reveal
A shifting strategy

WHEN FUTURE generations want to study today’s capitalists, a good place to start would be Warren Buffett’s annual letters to the shareholders of his firm, Berkshire Hathaway.

Unfortunately, any economic insights from the world’s most celebrated investor are woven in with lots of corny jokes about golf and fast food.

Mindful that readers may not have the intestinal fortitude to stomach the Oracle of Omaha’s unique sense of humour, The Economist has performed a textual analysis of 40 years’ worth of Mr Buffett’s letters to see what his language reveals about his thinking.

Berkshire has changed a lot. Having grown considerably in size, Mr Buffett now speaks of “businesses”, rather than “business”. He has also taken to using the adjective “huge” (see chart). The letters track how the firm used to focus on buying small stakes in listed companies; it now buys large, established firms outright.

This shifting strategy has made it tough for outsiders to value Berkshire properly. On the face of it last year was a pretty dismal one for the company. Berkshire’s book value per share rose by just 0.4%, its worst showing since the financial crisis. Earnings were just $4bn, a meagre 1.2% return on equity.

Mr Buffett contends these figures partly reflect arcane accounting standards which do not cope well with his varied investments. A change in accounting principles forces him to put mark-to-market swings in the value of his $173bn equity portfolio through his earnings, resulting in a $20.6bn loss in 2018.

By contrast, the book values of companies Mr Buffett owns outright, an increasing share of his portfolio, are carried at “far below” their current value, making it tough to assess Berkshire’s performance by its annual change in book value. Mr Buffett has moaned about these dynamics a lot. References to America’s Generally Accepted Accounting Principles (GAAP) have soared.

In other ways, though, Mr Buffett remains consistent. His philosophy has always been to look for cheap companies. He reckons that shares in firms with decent long-term prospects are too pricey at the moment.

Instead, Berkshire will focus on buying back its own shares as well as investing in liquid stocks in 2019. Mentions of “repurchases” are on the rise but “acquisition” shows up just three times this year.

Historically, Mr Buffett has been loth to borrow vast sums of money, arguing that “rational people don’t risk what they have and need for what they don’t have and don’t need”. He made an exception in 2013, when he invested in Kraft Heinz. This was one of Mr Buffett’s biggest mistakes.

Shares in Kraft Heinz have plummeted. Berkshire has taken a hit of nearly $3bn to its balance-sheet as a consequence. Mentions of “debt” spiked in this year’s letter.

The biggest question facing investors in Berkshire is who might replace Mr Buffett, now 88, as leader of the company. His partner, Charlie Munger, turned 95 in January. The two most obvious candidates are Ajit Jain, who is 67, and Greg Abel, 56. They were both appointed to Berkshire’s board last year and got 3 mentions each in Mr Buffett’s letter this year.

Mr Buffett claims Berkshire’s blood flows in their veins. In years to come their letters might prove this to be the case—if so, Berkshire’s investors are likely to be happy. Especially if they skip the jokes.

Source: The Economist
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Re: Berkshire Hathaway (BRK)

Postby behappyalways » Mon Mar 04, 2019 7:25 pm

2019.03.03【文茜世界財經週報】股神也失算!押錯寶致最大季度虧損
https://www.youtube.com/watch?v=yhd2FvE ... wlqT1IXpxu
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Re: Berkshire Hathaway (BRK)

Postby winston » Sat Apr 13, 2019 8:26 pm

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Berkshire Hathaway (BRK.B)

Warren Buffett is 88 years old. Eventually, he’s going to step out of the game. The argument is that his departure will create a panic that will send Berkshire Hathaway (NYSE:BRK.A, NYSE:BRK.B) stock spiraling downward. Personally, I don’t subscribe to that theory …

Businesses — whether it be a huge holding company like Buffett’s or something much less grandiose — are valued by calculating the present value of its future cash flows.

Berkshire Hathaway’s are significant. Another way is to value a business is to look at the sum of all its parts.

Berkshire Hathaway owns hundreds of businesses; each of these firms, if sold at auction, would be worth more than the current stock price would seem to reflect.

If Buffett moved on and the company was broken up in a prudent manner over an extended period, Berkshire Hathaway investors would benefit greatly from such a process.

The best part of Berkshire Hathaway? You get a quasi-mutual fund with a diversified group of holdings and no management fees.

That’s the best kind of buy-and-hold investment.

Source: Investor Place
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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