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Berkshire Hathaway Inc. Message Board

ss613489 5 posts  |  Last Activity: Mar 12, 2014 11:34 AM Member since: Jul 8, 2008
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  • Reply to

    GHC Owns about $462 Million worth of BRK

    by axpkocop Mar 12, 2014 9:53 AM
    ss613489 ss613489 Mar 12, 2014 11:34 AM Flag

    According to the SEC filing not all of those shares will be going back to Berkshire. It looks like only about $400 million worth of Berkshire shares will be "bought back". The rest of the deal is about $300 million cash back to Berkshire and the TV station which is valued at $364 million. Still it is nice to see the share count go down again this year.

  • How can someone continue to lose such large amounts of money yet till print positive returns? This guy is trying to distract from his ponzi scheme by blaming others.

  • Reply to

    Berkshire Food for Thought

    by writerpioneer Feb 14, 2014 10:27 AM
    ss613489 ss613489 Feb 14, 2014 3:24 PM Flag

    I agree with your implication that Berkshire did not receive the multiple expansion that the rest of the market did and based on my estimate of a little over $134,000 for year end book we are actually a little below 1.3x book. WFC's book multiple is not really relevant to Berkshire though since it is in the insurance business so the insurance part of its business should trade closer to some blended multiple of primary insurers such as travelers (1.2x) Progressive (2.5x) Chubb (1.4x) and reinsurers such as Swiss Re (1.0x), probably around 1.3 times. While the noninsurance businesses should probably trade closer to 2x with BNSF probably worth right at 2x what it is on the books for while Marmon and Lubrzol a lot closer to book and all of the longer held businesses well over 2x book. If you blend the insurance and non-insurance I think 1.6 to 1.8 is a reasonable fair value.

  • I don't know the rules specifically but I don't believe Berkshire is allowed to do a buyback until it reports earnings for the quarter because I believe there is a blackout period for all public companies between the previous quarter end and the earnings report. Well this would not be a buyback but considering more the Berkshire shares that it would receive back (about $640 million worth as far as I can tell) make up more than half of the deal vale of $1.1 billion, I can't imagine Buffett is doing this deal for whatever small business it gets from GHC. Of course there are some very nice tax benefits involved since Berkshire will never pay taxes on the GHC gain now which stands at around $1.1 billion or 100x what Berkhire originally paid for the shares.

  • Its been all down hill since she was announced because no self respecting guy wants to take orders from a lady at work after having to at home and all the good ones will leave this company.

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