Manlobbi’s Activity

Wed Sep 5

NL

Boards Post

Manlobbi replied to the Berkshire Hathaway board. 6:14 AM

Re: On valuation...

Oh well... may be you are right. But if we all agree on something then what
is the point of discussing about it?


The point? It is to reach an understanding. The point is not to disagree, but
to find understanding through [more]

Sun Aug 26

NL

Boards Post

Manlobbi replied to the Berkshire Hathaway board. 8:26 PM

Re: Inverting

The other phenomena in distorting the feeling of safety as one
ages is the effect of compounding probabilities. This is like
investing compounding but in reverse.

Let's say that after 105 years of age, the chance of [more]

Mon Aug 13

NL

Boards Post

Manlobbi replied to the Berkshire Hathaway board. 9:41 PM

Re: The usefulness of CAPE in a chart

Consider this analogy: I am a capricious debtor. You lent me $100
today and inflation was 10%. I gave you $120 back a year from now.
Later on, Jim lent me $100 when inflation was 0. I also gave him
$120 back. Was my decision
[more]

Sat Aug 11

NL

Boards Post

Manlobbi posted to the Berkshire Hathaway board. 11:46 PM

Narcissism

I’m posting this in an attempt to help some of the posters on this board understand each other.

Some people can be unable to feel empathy (which is normally a kind of genuine pain in observing someone else hurt) - as if this part of the [more]

Mon Jul 30

NL

Boards Post

Manlobbi replied to the Berkshire Hathaway board. 4:49 PM

Re: Poll: Do you exist?

In my experience, most rich people genuinely want poor people to become richer.
Perhaps this perhaps is in part because they are frequently unaware of this rule, though I would like to ascribe it to nobler motives : )


I agree, but [more]

Fri Jul 27

NL

Boards Post

Manlobbi replied to the Berkshire Hathaway board. 12:03 PM

Re: A:B ratio thoughts

The average price since the revised buyback plan has been 1.423 times known book for A shares and 1.407 for B shares.
(an average ratio somewhere around 1516:1 = a premium of 1.08% to the economic interest ratio)


This is in [more]

NL

Boards Post

Manlobbi replied to the Berkshire Hathaway board. 9:06 AM

Re: A:B ratio thoughts

Class A shares should trade a little higher, as they are marginally superior than simply 1,500th a share of an A share. They have 1,500th the value in all regards (access to earnings etc) except for two things - they have only 10,000th the voting [more]

Sat Jul 21

NL

Boards Post

Manlobbi replied to the Berkshire Hathaway board. 6:07 PM

Re: Rational Walk: Thoughts on Share Repurchases

If it's not a return of capital, what is it?

It is a conversion of capital. (Before the buyback you had X total capital and Y cash. So you had X-Y in non-cash equity. After the buyback, shareholders still have X total capital [more]

Tue Jul 17

NL

Boards Post

Manlobbi posted to the Manlobbi's Descent board. 9:12 PM

New Berkshire buy-back policy

Omaha, NE (BRK.A and BRK.B) – The Board of Directors of Berkshire
Hathaway Inc. has today authorized an amendment to Berkshire’s share
repurchase program. The earlier share repurchase program provided
that the price paid for
[more]

Tue Jun 19

NL

Boards Post

Manlobbi replied to the Berkshire Hathaway board. 11:22 AM

Re: 20-year return vs S&P downright shocking

Berkshire produced its own value 3 times, versus the S&P500 producing its
own value 2 times over the last decade (50% more additional value) as I
wrote, however I reported the after inflation values incorrectly.

Inflation over [more]

NL

Boards Post

Manlobbi replied to the Berkshire Hathaway board. 4:14 AM

Re: 20-year return vs S&P downright shocking

I don't think most people realise how much Berkshire has outperformed
the S&P500, because of the psychological emphasis on looking at the
change in quotes. This is understandable emotionally, as 20 years is a
long time, but it [more]

Thu Jun 14

NL

Boards Post

Manlobbi replied to the Manlobbi's Descent board. 4:17 PM

Re: Investing in BAM Partnerships

Thinking about BAM, are the sub-funds, BEP, BIP etc, worth
investing in alongside BAM? Or is it all the same thing in the end?


In a nutshell, I think it is best to hold the parent
company BAM and receive the aggregate value [more]

Tue Jun 12

NL

Boards Post

Manlobbi posted to the Manlobbi's Descent board. 2:52 PM

Chinese projects

Whilst the growth in China is often reported as slowing, that doesn't mean the
growth isn't large - if we go from 7% to 4% per year per capita over 20
years there is vastly more growth (200% higher income) than moving
from 2% to [more]

Mon Jun 11

NL

Boards Post

Manlobbi replied to the Berkshire Hathaway board. 3:36 PM

Re: Time-tested Memo from WEB !

The other reason why a perpetually lower stock market leads to more wealth creation is that the dividends paid out (and the earnings produced) are higher for each each dollar invested. You get an ongoing higher dividend yield and earnings yield. [more]

NL

Boards Post

Manlobbi replied to the Berkshire Hathaway board. 12:09 PM

Re: Time-tested Memo from WEB !

He’s quite precise in saying “net buyer.”
...
That's the problem. First of all most people can reasonably know whether they are going to be net buyer or net sellers, but not in absolute terms.


True - you might need to [more]

Fri Jun 8

NL

Boards Post

Manlobbi replied to the Manlobbi's Descent board. 12:20 PM

Re: BlackRock

You already know a lot about Brookfield Asset Management so I'll
use them in my description of BlackRock to act as a contrast. I'm starting
to appreciate the 'boringness' of the non-trademark-like word [more]

Thu Jun 7

NL

Boards Post

Manlobbi replied to the Manlobbi's Descent board. 1:00 PM

Re: MKL

Hi Manlobbi, I noticed that MKL was conspicuosly absent when you listed
investment alternatives in your recent "Blossoming Brookfield" post. Last
quarters BV was down for MKL, as for BRK, and they are currently trading
[more]

Sat Jun 2

NL

Boards Post

Manlobbi replied to the Berkshire Hathaway board. 6:48 AM

Re: OT: Is this a good thing?

So, you spent $11.7B to retire SOME shares over a DECADE
and the WHOLE company is worth $12B now. How is that a good
use of capital? What am I missing?


As I understand the main question was how can allocate
more capital [more]

Fri Jun 1

NL

Boards Post

Manlobbi posted to the Manlobbi's Descent board. 10:05 AM

Berkshire's back

A few people might hold both of the superb companies Berkshire Hathaway
and Berkley Corporation together, so I thought I'd report a recent action
which the Manlobbi Method calls for so seldomly. I seem to be lucky
if I trade twice a [more]

Thu May 17

NL

Boards Post

Manlobbi replied to the Berkshire Hathaway board. 7:40 PM

Re: Tilson's BRK analysis

>In this light, and given that there are numerous “experts” who like to periodically
>analysis and value Berkshire, why would anyone rational give any heed to Whitney Tilson?

I think this is an important, and also rather deep [more]

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CAPS Stats & Trivia

CAPS Player Rating 91.49
Player Rank 5940 out of 69786
Score 1635.25
Score Change Today -22.86
Accuracy 88.89%
Active Picks 7
Total Picks 11
Best Pick AAPL (+1236.03)
Worst Pick BAM (-10.62)
Average Score per Pick 148.66
Charms Earned 9
Highest Rated Favorite No Favorites Selected
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Boards Stats & Trivia

Big red star, 1000 posts
Board Posts 1397
Recs Received 9844
People who have rec'd these posts 1670
Recs to Posts Ratio (last 30 days) N/A
Threads Started 319
Threads Started Percentage 22.83 %
Most Frequent Board Mechanical Investing
Very First Post View individual year's backtesting (11/13/1999)
Percentage of Posts Rec'd 77.45 %
Show Manlobbi’s 10 Latest Posts