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Berkshire Hathaway Inc. Message Board

  • The world’s second-largest provider of credit ratings was trading at $49.40 at 10:07 a.m. in New York, the highest level on an intraday basis since October 2007. The stock gained 35.8 percent this year through yesterday".

    Buffett was a big seller last last year and most of my shares will be called away at 40 but in my case I have sold put options against it. Hopefully BRK still has a meaningful position in this company.

    "

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    • If the beachlawyer thinks his float has been hurt by low interest rates, wait 'til he sees what happens to the value of that float when interest rates go up. Take a look at his bond portfolio and give some consideration to what he once asked Jack Byrne when Jack was running Geico: "Why do you lend when interest rates are rising?"

      • 1 Reply to donedoodit
      • I think you're looking at this the wrong way: BRK's bond "portfolio" is not intended as a long term investment. Buffett hates the idea of cash. The only reason we hold bonds is because we have to in our insurance operations or for liquidity purposes. I would bet that nearly all our bonds are short term maturities, so rising rates have little effect on their prices. In the mean time, we hold $70 billion dollars of float, earning miniscule rates. With normal interest rates, our float could earn billiions more each year. The value of our float is a function of what it earns. In today's low interest envrironment, it earns very little. To me, this is as good an explanation for BRK's low Price/BV ratio than any other that has been offered.

 
BRK-B
151.54-0.21(-0.14%)Dec 24 1:02 PMEST

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