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Berkshire Hathaway Inc. Message Board

mnemory00 7 posts  |  Last Activity: Aug 21, 2014 3:57 PM Member since: Jun 8, 2006
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  • Reply to

    percentage in BRK

    by hummingbirdair Aug 21, 2014 10:31 AM
    mnemory00 mnemory00 Aug 21, 2014 3:57 PM Flag

    Incidentally, I got this idea of diving overwhelmingly back into SoCal real estate from this guy in Omaha.

  • Reply to

    percentage in BRK

    by hummingbirdair Aug 21, 2014 10:31 AM
    mnemory00 mnemory00 Aug 21, 2014 3:55 PM Flag

    FCNTX has about 4% in BRK. FCNTX is about 1.25-1.5% of my net worth. S&P 500 has some BRK also and that's about 3.5%-4% of net worth. I have a few different stock funds right now, and those two probably have the most BRK. Net worth is assets because I don't carry any debt except near-zero auto loans secured by automotive assets (and multiple hundreds of horsepower per vehicle).

    There are a couple of reasons why I have relatively little BRK now. BRK is a great company. I had close to 100% of net worth in BRK around the lows of 2009, because BRK is that kind of solid company, and I have that much confidence in Warren. A couple of years ago, I shifted from equity assets into Southern CA real estate. Based on appraised values and cash flow from the real estate, it was a very good decision. My real estate has generated substantially higher than 100% ROIC based on appraised value, plus very substantial cash-flow returns. Although I continue to have a substantial position in mutual funds in retirement accounts - roughly 13.5% of net worth, my individual stock holdings are ludicrously small. I just put it all into BAC because I don't want to be holding odd-lots and so forth, and BAC was really beaten down. Today it's coming up a bit but should be a nice ride for a while. If not, I don't really care because the total position is within a daily or at least weekly normal oscillation of the balance in my mutual fund accounts. Alas, BRK's gone up a lot while I chased other opportunities and so I probably won't have a chance to renew my insanely overbalanced BRK position any time soon.

  • mnemory00 by mnemory00 Aug 21, 2014 3:44 PM Flag

    The cheapest way to attain elevation. Up, up and away.

  • Reply to

    1st Traded Over 100,000 on 10/05/2006

    by axpkocop Aug 13, 2014 10:36 PM
    mnemory00 mnemory00 Aug 14, 2014 11:35 AM Flag

    In 2006, I was up to my eyeballs in this stock. Now not so much since I shifted resources into depressed real estate a few years ago, but through my FCNTX holding I'm enjoying the ride.

  • Reply to

    Target-Date Funds Take Over, barrons cover

    by hjclasvegas6969 Jul 7, 2014 8:00 AM
    mnemory00 mnemory00 Jul 8, 2014 4:21 PM Flag

    Turbulence. That is all.

  • Reply to

    Target-Date Funds Take Over, barrons cover

    by hjclasvegas6969 Jul 7, 2014 8:00 AM
    mnemory00 mnemory00 Jul 7, 2014 4:02 PM Flag

    Hey HC,

    I'm now about 45% the S&P 500, with 45% FCNTX now that Danoff has managed to trim back on Apple to reasonable levels, and 10% in a global fund. My thinking is that Danoff has outperformed in down markets in the past, while the global fund taps into the economies overseas that appear to be more slowly coming up off the mat. I would go with a mix of stocks and bonds in a second, except bonds are sure losers from here in any sustained recovery, and with record low rates and plenty of slack, that's what we're going to get - more or less strong, but a progression nonetheless. So I remain 100% stocks in the relatively low percentage of my net worth that's available to invest in stocks. Most of my money that could have been invested in stocks has been in Southern California real estate for the past few years. Although I've made about 100%, I have no plant to sell. Seems to be plenty of upside and the earnings yield from rental properties is still fine, although of course not nearly what it was.

  • We've got the Slavs at each others throats in Ukraine v. Russia. We've got the Arabs, divided along #$%$ and Sunni lines, at each others throats in Iraq. To borrow a phrase from W, my fellow Americans, fratricide is on the march.

    This time, we're going to stay out of all that mess. The only thing that fratricidal maniacs generally agree on is to shoot whoever gets in between them. What shall be the effect on the good old U.S.? Not much. The ##$%$ in Iran are going to keep pumping oil into the world markets. Sunnis tend to pump oil too. The Russians pump out that natural gas as fast as they can do it. The U.S. doesn't purchase much directly, since we're floating in so much domestic oil and gas production that Obama recently authorized exporting near-crude oil for the first time in about 40 years. We might be impacted by a huge drop in production overseas as world prices escalated, but all sides agree to pump out the oil and pump in the money, in addition to agreeing on killing each other and anyone who tries to stop them from killing each other.

    Now what about domestic fratricide? Are they coming with pitchforks? No chance at all. The middle class in the United States isn't interested in wealth. They're interested in shiny Ford Explorers, Cadillacs, Porsches, Mercedes, etc. Consumer goods. Measures of the relative asset poverty of the high-earning American middle class fail to diagnose the root of the problem: massive purchases of rapidly depreciating assets for consumption. The middle class wants jobs, houses, and toys. They have them and there's no revolt brewing. However, some folks may be working overtime to buy a boat.

    So . . . these "hot" stories are as old as Cain and Able. Fratricide on the fringes of Europe and in the middle east. Middle-class angst and massive effort in the U.S. The supposed threats on the Street's mind amount to a big nada. Nada nada nada. Bullish.

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