carl777’s Activity

Thu May 12

NL

Boards Post

carl777 replied to the Berkshire Hathaway board. 12:21 PM

Re: Cash piling up

"I think you are mistaken, he is in fact specifically referring to column 2'

DTb-Maybe it is an issue of apples and oranges. BRK does not report column 2 on a quarterly basis, only in the annual report. For quarterly estimates, I use [more]

Wed May 11

NL

Boards Post

carl777 replied to the Berkshire Hathaway board. 4:49 PM

Re: Cash piling up

" In arriving at our earnings figure, we deduct all corporate overhead, interest, depreciation, amortization
and minority interests. Income taxes, though, are not deducted."

I interpret this statement as applying to the [more]

NL

Boards Post

carl777 replied to the Berkshire Hathaway board. 10:57 AM

Re: Cash piling up

"FWIW, I do column 2 by starting with stated EBIT and making a few adjustments, so the debt
cost is definitely in there because they are in the EBIT line and I don't take them out."

Jim-If you stat with EBIT then you are [more]

Tue May 10

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Boards Post

carl777 replied to the Berkshire Hathaway board. 5:00 PM

Re: Cash piling up

"Perhaps I am misunderstanding you, but it seems to me that this corporate level debt is also already accounted for in the 2-column method as well, which should need no adjustment."

DTB-I don't think so.
1.I do not think the [more]

Sat May 7

NL

Boards Post

carl777 replied to the Berkshire Hathaway board. 4:37 PM

Re: Cash piling up

"Am I the only one who noticed that the difference in cash is only 13 Billion from year end to first quarter. $58,342 vs. 71,732."

That is because corporate level borrowing almost doubled to pay for the PCP acquisition. This [more]

Thu Mar 31

NL

Boards Post

carl777 replied to the Berkshire Hathaway board. 2:27 PM

Re: BRK takes WFC stake over 10%

"Provided that book is "booked" close to actual value, you're right that book *should* form a floor."

This has been a big issue for BAC and C, because of the large amount of
"Toxic Waste" accumulated in [more]

Mon Mar 21

NL

Boards Post

carl777 replied to the Berkshire Hathaway board. 8:02 PM

Re: Berkshire's Disintermediation - Lawrence Cunnin

Nice writeup. Followers of BRK will not find much or anything new here, but he does give a strong thumbs-up to BRK's modus operandi and culture. The thing that came out strongest to me at the end is a re-enforced belief in not only WEB, but in his [more]

Sat Mar 12

NL

Boards Post

carl777 replied to the Berkshire Hathaway board. 5:11 PM

Re: OT: closed end funds

TS-I believe closed-end funds can be a good vehicle. There is a very significant advantage of closed-end funds over mutual funds and ETFs for holding debt instruments, bonds or loans, particularly, non-investment grade. The advantage is, management [more]

Wed Mar 9

NL

Boards Post

carl777 replied to the Berkshire Hathaway board. 11:29 AM

Re: Adjustments to BRK GAAP EPS

"I suggested that Berkshire could be valued on an Earnings basis with an
appropriate P/E"

I applaud your efforts to come at a valuation estimate via a PE model. It can provide one more tool in the valuation arsenal. I have done [more]

Wed Mar 2

NL

Boards Post

carl777 posted to the Berkshire Hathaway board. 4:48 PM

2015 AR in Context

The more I look at and think about BRK's financial performance in 2015, the more a good story continues to look even better to me.

Starting with WEB's popular metric, Book/share grew 6.4%, while the S&P 500 total return was 1.4%, a 5% [more]

Mon Feb 29

NL

Boards Post

carl777 replied to the Berkshire Hathaway board. 5:42 PM

Re: AR's Investments/Share Question

Jim-I take it back. I now think your original reply is correct, as my calculation of KHC used Book not market. Mea culpa!

NL

Boards Post

carl777 replied to the Berkshire Hathaway board. 5:21 PM

Re: AR's Investments/Share Question

"But you're right, it's less obvious than usual now.
"This year, the secret seems to be to take out the Kraft Heinz position at book value
and replace it with market value, so it's treated as all the stock holdings are.
Those [more]

NL

Boards Post

carl777 posted to the Berkshire Hathaway board. 11:57 AM

AR's Investments/Share Question

Early in each AR over the past few years, WEB points out the total investments or investments per share number.

He does not do this in the quarterly reports, other than making a reference to the total Insurance investments in the Financial [more]

Sun Feb 21

NL

Boards Post

carl777 replied to the Berkshire Hathaway board. 11:47 AM

Re: Coat tailing

"These are pre-tax returns.
If you imagine Mr Buffett picking the best way to allocate the capital
currently in Coke shares at the beginning of each year, the comparison
he must make is between keeping the existing position and [more]

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Boards Stats & Trivia

Two stars, 250 posts Old School Fool
Board Posts 261
Recs Received 1144
People who have rec'd these posts 347
Recs to Posts Ratio (last 30 days) N/A
Threads Started 44
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Most Frequent Board Berkshire Hathaway
Very First Post Re: sheesh (6/29/1999)
Percentage of Posts Rec'd 76.63 %
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