EliasFardo

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EliasFardo replied to the Berkshire Hathaway board. 11:44 PM

Re: Five Year Test

In light of this, I hope that someone at the annual meeting asks whether Berkshire will be forced to declare a dividend at the end of 2012 if the test is not met.

I believe that the answer would be “no.” Buffett once stated that the 5 [more]

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EliasFardo replied to the Berkshire Hathaway board. 3:32 PM

Re: Summoning the Board Geniuses

I'm not so sure it even makes sense to count the payroll tax as a tax. To my mind, a tax is something that people pay, as a function of their wealth or income for instance, that goes to pay for things that everyone needs, like roads, schools, [more]

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EliasFardo replied to the Berkshire Hathaway board. 3:17 PM

Re: Stupid BRK Bookkeeping Question:

Rationalwalk, in one thread you reply:

This is indeed what Buffett has taught us for years and one reason I find his statements on taxes baffling. If the argument is that the rich should pay more, then that's a perfectly fine argument to [more]

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EliasFardo replied to the Berkshire Hathaway board. 3:11 PM

Re: Summoning the Board Geniuses

But before the patient pays the surgeon they have paid tax on their earnings. And before the insurance company pays the hospital they will have paid tax on their profits. And before people pay the insurance company they will have had taxes [more]

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EliasFardo replied to the Berkshire Hathaway board. 12:25 AM

Re: Portfolio Intrinsic Value

In the past on this board, there was some ridicule of the notion of an "intrinsic value net worth" which is basically a calculation of a person's portfolio with the prices changed to reflect an estimate of intrinsic value rather than [more]

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EliasFardo replied to the Berkshire Hathaway board. 12:20 AM

Re: Howard Marks on Equities

And if I’m wrong – if there is no rotation from fixed income to stocks – I’m not that worried that I’ll end up with great regret over having failed to pile into T-bills yielding zero or the 10-year note guaranteeing 2.0%. When attitudes are [more]

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EliasFardo replied to the Berkshire Hathaway board. 6:01 PM

Re: New Director

Instead of first concentrating on the new director, the article starts out talking about diversity.

It begins: Another woman has been appointed to Berkshire Hathaway's board, the company led by Warren Buffett said Thursday, the same day [more]

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EliasFardo replied to the Berkshire Hathaway board. 4:55 PM

Re: New Director

Also Thursday, activist investor Calvert Investments released a diversity survey of large U.S. publicly traded companies. Berkshire, a holding company for dozens of firms selling everything from construction bricks to fine diamond jewelry, ranked [more]

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EliasFardo replied to the Berkshire Hathaway board. 4:05 PM

Re: The Outsiders

I started reading "The Outsiders" last night (recommended in the annual letter) and it is a great read so far. The history of Teledyne was vaguely familiar to me but since the company was in its prime in the '70s to mid 80s before I [more]

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EliasFardo replied to the Berkshire Hathaway board. 3:26 PM

Re: Rolling five years

Interesting that the only time the two lines touched was in 1999, when the tech-internet-communication-Y2K mania was in full swing. So the only way that the S&P could perform close to Berkshire is when it is in an once-in-a-lifetime [more]

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EliasFardo replied to the Berkshire Hathaway board. 5:10 PM

Re: FT: Buffett brand has more beans than Heinz

As someone has pointed out that the 9% interest from the preferred is at least half self-paying. The actual interest rate should be considered as 4.5%.

I see where this is coming from, but it is wrong

You are correct, Sir. It [more]

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EliasFardo replied to the Berkshire Hathaway board. 11:47 PM

Re: Berkshire buys Heinz

anyone awake should see Buffett in teh last couple of yrs is focused on ROE.

Well, I think he always has, maybe he has not talked about it a lot.

I also am a big fan on high returns on equity, but there is a warning I would [more]

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EliasFardo replied to the Berkshire Hathaway board. 11:32 PM

Re: bond risk to OIns industry- comments?

I think one, me anyway, needs to have some capital sitting at .25%, sitting awaiting for grand opportunities in select insurance companies.

Comments, please, other views, ideas re this topic?

I agree completely, except I [more]

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EliasFardo replied to the Berkshire Hathaway board. 10:23 PM

Re: Heinz for free...

Another thing is the point that FT makes. If you own the company then finally the preferred interest is coming out from your pocket. Agreed, BRK owns only 50% of the firm but nonetheless it is an owner also not just preferred owner. Some other [more]

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EliasFardo replied to the Berkshire Hathaway board. 4:17 PM

Re: energy independence

I believe that the problem many people have in attempting to limit their energy use is the lack of a clearly articulated standard. I had my colleagues here at the Fardo Center for Suspect Scientific Studies, commonly known as the FCTripleS, develop a [more]

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EliasFardo replied to the Berkshire Hathaway board. 4:12 PM

Re: The Next Big Crisis

I don’t know how we can avoid a catastrophe in bonds; it is just simple math. I believe that individual investors should not own any medium to long term bond maturities at all.

I agree that stocks make more sense now, especially the names [more]

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EliasFardo replied to the Berkshire Hathaway board. 11:52 PM

Re: New Buffett op ed

SUPPOSE that an investor you admire and trust comes to you with an investment idea. “This is a good one,” he says enthusiastically. “I’m in it, and I think you should be, too.”

Would your reply possibly be this? “Well, it all depends on [more]