Berkshire Hathaway (BRK.A ): Maintains 2 STARS (sell)
Analyst: Catherine Seifert
Unconfirmed Wall Street Journal reports indicate that federal prosecutors and regulators are examining whether General Re's current CEO, Joseph Brandon, played a role in the controversial 2000 reinsurance agreement with American International Group (AIG ). We think the ongoing (and possibly widening) investigation into this finite reinsurance deal continues to impose "headline risk" on shares of Berkshire. The shares currently trade at 22 times our $3900 2005 EPS estimate, a premium to both the market and its insurance peers. We do not believe this premium is warranted. Our target price stays at $80,000.
Its interesting reading the board from years ago. I didn't list my million dollar house until q-4 -- 06, and I didn't realize that EVERY offer for my house involved mortgage fraud until q-1 -- 07 or so. HOW do I get to messages from q-1 - 07 ,it would be fun to read my own bullshit and see WHO was jumping me back then,lol ?????
chomp, any person would have thought that once BUFFETT donated and knew the Foundations would start selling in 08, that BUFFETT would be more,sensitive, to the bid, I, was WRONG WRONG WRONG , period. He doesn't seem to care if HIS lifes work gets sold off below fair value, NO ONE could have expected that, no one. HE, is one in 300 million, no other person in this contry would think like HIM, no one. TRust me bro, I should have read and reread his statement ,realized HE didn't understand supply and demand, increased FLOAT etc, my bad, and SOLD it all not 1/2 way up there. IF, IF, he called me TONIGHT, and said HE is going to do HIS thing, deals etc, and let others maximize the stocks value,and stay out of it, I cover my calls and triple down on the stock on the open.
Beachlawyer, July 20, 2005 - WOWWOWWOW:
"This is not a bubble, its called progress.
And then you have those areas where housing has truly become unaffordable, or so it seems. Miami, FL is often cited as one of those locations, where beachfront condos cannot be bought for under $2 million. I would argue that there is no bubble in Miami, and that property in Miami is perhaps even underpriced. My reasoning? In a nutshell, you must consider the demographics of any area to in order to determine relative value. You will find that mid to high-end Miami housing is owned predominantly by foreigners. Comparable housing in their native countries would often cost significantly more than the prices they paid in Miami. Is this the sign of a bubble?"
beach, seriously, how much have you lost on RE since then???
Real estate and getting RICH!! 16-Jul-05 08:40 am On the other hand,my daughters boyfriend is 24. He is a mortgage broker. He bought 5 houses three years ago,5 % down,postive cash flow,he's a millionaire today,go figure! I'm trying to get him to sell and lock up the money,he calls me pops,old school,too,lol,lol. I know one thing,way too many people are getting RICH FAST out here,something has to give. Sort of like IV NET WORTH until you sell! What a f--kn country!
Remind me NEVER to take investment advice from beachlawyer!!! WOW - this guy kinda had the whole real estate bubble thing horribly wrong. OUCH!!!
"No one said getting rich is easy. But there are far too many posters on this board who believe the only viable LT investment is BRK. Such narrow-mindedness will not get you rich. To be successful investing in RE, like anytning else, takes time, education and dedication. The notion that the so-called bubble is bursting is just an excuse by those who lack the time, dedication or willingness to generate an above-average return."
"JC, If and when you have an 8-figure net worth, your advice may be worthwhile. In the mean time, I'd rather listen to and follow those who are generating real returns as opposed to those who continue to provide bad advice. Keep talking real estate bubble; eventually, you may be right (sort of like a clock that is right twice a day). "