shocking facts disclosed !! some of the things buffett says are, scary, to be kind.
++A lot of things have gone wrong for IBM since 2011. And still its an investment in the black, albeit the gains have been small. Sure not the best result given the market since 2011 but all things considered not too bad considering IBMs results.++
that's a real beauty, even in brkville !! brkb was below 70 in sept 2011, when he authorized the buyback, aka, the, gimmick, he had no interest in following through, he just wanted to goose the stock back above 1.1 xs BV where he was a happy seller. he blew 10-15 BILLION, that's with a BBBB bro, as in BILLIONs, buying ibm over brkb, end of story. put down that brkville pipe and get off the brkville party train you are smarter than that.
money flow into brkb.
lots of great info.
take a look at a chart of brkb vs ibm, OBVIOUSLY the biggest mistake in buffets last 3-4 years. buying brkb in the 70s was a no brainer, even if he didn't want to borrow 10-20 billion at 3 % to do it as I suggested at the time.
++ Berkshire Hathaway Inc. (BRK/B) chairman Warren Buffett, 84, said last week that his investment in struggling U.K. supermarket business Tesco Plc (TSCO) was a “huge mistake.” Hedge funds including Lansdowne Partners LP and Lone Pine Capital LLC began betting against chains including Tesco amid speculation the worst isn’t over for the industry.
Berkshire controls about 4 percent of the company, making it the fourth-biggest shareholder. Buffett has a $67 billion fortune and is the world’s third-richest person, according to the Bloomberg ranking.++
funny thing, ANY other public company's BODs would have sent buffett out to the woodshed for a serious spanking for putting out a press release without a lawyer signing off on it. That move alone brings up the obvious question, is he at 100 % ? Its obvious munger isn't but that's to be expected. The chapter 8 of the book they offered was worth the time.
thanks dickey, wasn't it buffett who said running big money is much harder ? lets see how ted and todd do in a market that doesn't go straight up every 1/4 for years ? meanwhile buffett has made HUGE mistakes the past 5 years. The opportunity cost of buying ibm over brkb was a top 3 mistake of his life, 10- 20 billion dollar mistake . those irish banks over brkb, 2 billion, holding Tesco while ray Charles could see management was lost in space,in way over their head, 2 billion etc. empire building over the safest OBVIOUS BET, buying brkb has cost him and the foundations many billions. too bad, he lost his way.
hey brky, wake up and read this from a chapter in the book ? remember when the experts in brkville told me I was nuts when I said buffett wrote that sokol press release rather than hire a securities lawyer to write it ? ucmtsu,no way bro.
++ Buffett accepted the criticism, noting that had Berkshire’s lawyers written the release, it
would have been worded more carefully.
Munger acknowledged that the press release was
flawed, though cautioned against letting anger figure in such exercises.
have honed the sober craft of drafting press releases, and CEOs usually entrust the task to them.
Much as with Buffett’s idea to move GEICO into the credit card business, his mistake of writing
his own press release underscored the value of delegation++
the new book.
good stuff from hussman. when you consider how many experts have been bashing bonds and saying stocks are a no brainer longer term, like buffett, Cooperman, and the king joker cramer, I get even more bullish bonds out two years until the nov 16 election. ICON is cautious but the guy says such idiot nonsense pumping aapl he has very little cred at this point. keeping aapl above 100, so far, has prevented a much steeper drop , but, if icon really had aapls best interest at heart wouldn't he shut up and let aapl buyback size below 100 maybe even low 90s ? Lets see if brkb tests 135, ibm tests 180ish, and if spy breaks 185ish. vix might spike into the 25 area as well, should be fun ! professor is your cash all tied up or are you ready to rock n roll ?
thought I would read hussman.
this rag contains this ,
++ Billion-dollar investor Warren Buffett is rumored to be preparing for a crash as well. The “Warren Buffett Indicator,” also known as the “Total Market Cap to GDP Ratio,” is breaching sell-alert status and a collapse may happen at any moment. ++
before they became brkheads ?
barrons interview, very well reasoned manager, worth the time.
not a bad time to think about using options bud. BUT, stock picking is very risky business using the spy is less risky. in fact if buffett ever did a serious interview I would love to ask, what % of the spy 500 have financials you don't trust or respect hence would never buy the stock ?