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Berkshire Hathaway Inc. Message Board

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  • bobo21029 bobo21029 Dec 9, 1998 8:34 AM Flag

    Just bought my first share! <OT>

    ........In Feb, I was given early retirement when
    my employer of 28 years went thru
    "streamlining"..........It took me about 24 hours to get over the trauma of
    it all........since then I've been startled at how
    busy I've been.....the days fly by because they are
    self-directed. Most of you guys are younger than me and are
    doing the right thing by being
    savers/ first investment was a Korean War Bond when I was
    in 3rd grade.......I still have it. The way
    companies are treating employees these days you never know
    when you're gonna get called in the bosses office for
    a pink slip............take it from me, when that
    moment comes, you're gonna feel strong 'cause you got
    shares of BRK backing you up......and WEB is a hell of a
    lot smarter than that boss that's letting you
    go...........the beat goes on........

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    • >take it from me, when that moment comes,
      you're gonna feel
      >strong 'cause you got shares
      of BRK backing you up
      >and WEB is a hell of a
      lot smarter than that boss that's
      >letting you
      go...........the beat goes on........

      I hope no one here
      will take offense to the question I am about to ask
      but it is one that I am sure many of you have perhaps
      thought of. As great as WEB is, even he must one day shed
      the mortal coil. So what will happen to BRK in the
      unlikely event that this will happen (hopefully he will
      outlive me but considering that I am 25, it would be
      highly unlikely)? Is there someone to take over BRK and
      continue this great legacy? Once again, this is a question
      I am asking in earnest because in considering BRK
      as a long term investment, this is something that
      must be considered. What do you think?


    • The stock is fully valued. The underlining stock
      basket of Berkshire has not performed well this year
      based upon a slowdown year for Gillette, Coke and
      Disney. In fact, it is down for the year. Although the
      operations at GEICO are full steam ahead, the stock
      portfolio represents at least 50% of the value of BRK.
      GEICO is probably worth $10 billion and the other
      sainted businesses add in another $6-8 billion. The
      General Re transaction is probably worth another $5-10
      billion in value to the company, after share dilution.

      What the shareholders need is a big market decline so
      Warren can do his magic. Absent such a decline, the five
      year returns are likely not to exceed the S&P 500 by a
      meaningful margin. Even Warren said that the General Re
      transaction will not produce the quick boast like GEICO has
      done since 1996. The stock should not rise much from
      current levels until the stock portfolio starts to kick
      in or Buffett starts disclosing new positions taken
      during the October meltdown (i.e. Merrill, etc.)

    • After reading a string of messages regarding
      retirement, I was feeling, at last, qualified to post a
      message to the board. I retired in June as some of you
      might know. I have been living on some cash reserves
      that I had saved up - but the time is coming closer
      and closer when I will have to start converting and
      selling my Berkshire. I'll admit that when BRK goes down
      I get a little nervous and unsure of my decision
      but I can probably get by for about 3 or 4 more
      months before selling and I hope that things look alot
      better by then.
      As for being bored... Man, I couldn't
      be further from it. I am more busy and excited about
      my life than I have ever been. What a luxury to have
      the time to be able to explore and play at all the
      things I wished I had time to do before... and yet I
      still feel like there's not enough time in the day to
      do it all. So you people who assume or seem sure
      that retirement will be boring need to get some kind
      of life, or zest for living. Boredom is only a
      symptom of not having an imagination or enthusiasm, a
      symptom of laziness (mental and physical). So, the way I
      feel about it is that if this market is less than
      friendly to me and I need to go back to working, I will
      never regret the time I was afforded now and the fun
      and opportunities I've already had.


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