mungofitch’s Activity

Today

NL

Boards Post

mungofitch replied to the Berkshire Hathaway board. 8:01 AM

Re: IBM

[the article says] Shareholder distributions, which include dividends paid and buybacks...

This is very misleading. A very popular misconception.
Buybacks are NOT shareholder distributions. They are not return of capital to [more]

NL

Boards Post

mungofitch replied to the Berkshire Hathaway board. 8:00 AM

Re: IBM

[the article says] Shareholder distributions, which include dividends paid and buybacks...

This is very misleading. A very popular misconception.
Buybacks are NOT shareholder distributions. They are not return of capital to [more]

NL

Boards Post

mungofitch replied to the Berkshire Hathaway board. 8:00 AM

Re: IBM

[the article says] Shareholder distributions, which include dividends paid and buybacks...

This is very misleading. A very popular misconception.
Buybacks are NOT shareholder distributions. They are not return of capital to [more]

NL

Boards Post

mungofitch replied to the Berkshire Hathaway board. 7:28 AM

Re: OT--IBM, calls, trading, speculating, etc

PS
Want something cool to do with your little profits from this?
Still feeling bullish?
Out of the money calls also have low time value. e.g., Jan 2017 IBM $180 calls for about $8.
They make fine high-quality lottery tickets. i.e., [more]

Yesterday

NL

Boards Post

mungofitch posted to the Berkshire Hathaway board. 3:16 PM

OT--IBM, calls, trading, speculating, etc

I think there might be people out there that "own" some IBM by holding long-dated deep in the money calls.
Some of you may have selected strike prices which are, shall we say, no longer so deep in the money.
Say you got a pinch [more]

NL

Boards Post

mungofitch replied to the Falling Knives board. 12:59 PM

Re: Sberbank, take 2

If it weren't for the government kleptocracy, I would guess that prices are now low enough to compensate for the risk.

Sounds sensible.
IF they were merely spectacularly incompetent, I'd probably be buying, despite the bracing [more]

NL

Boards Post

mungofitch replied to the Berkshire Hathaway board. 7:15 AM

Re: OT new highs and lows

Ratio now passing 1407...
...
I'm going to wait another two weeks and I'm quite sure I'll be able to do an even 100 B-share swap for 100 IBM:-)


Shouldn't be long at this rate.
The BRK/A:IBM ratio hit 1470 yesterday, so [more]

Tue Dec 16

NL

Boards Post

mungofitch replied to the Berkshire Hathaway board. 1:30 PM

Re: OT: Mining Companies

Actually the total amount of recoverable petroleum is not "capped and falling daily" whatsoever. It is rising daily as we get better at recovering it.

As an aside, my own comments did not include the word [more]

NL

Boards Post

mungofitch replied to the Berkshire Hathaway board. 1:11 PM

Re: OT: Mining Companies

Which statement do you think has a greater chance of being true:

A.) 50 years from now mankind will still be pulling hydrocarbons out of the ground and refineries will still be refining the hydrocarbons into products to sell

B.)
[more]

NL

Boards Post

mungofitch replied to the Berkshire Hathaway board. 1:00 PM

Re: OT: Mining Companies

Unfortunately it seems you did not get any of the points I made and
didn't address them. Oh well, I tried. I am sorry it did not work out.


Well, ummm, you said
"Exxon produces just as much of a product just like Coke [more]

Mon Dec 15

NL

Boards Post

mungofitch replied to the Berkshire Hathaway board. 12:58 PM

Re: OT: Mining Companies

"Plus, they don't in the strict sense produce anything.
They dig up, transform, transport and sell bits of a diminishing resource."
...
Oh come on! You are doing it again with the absurd reduction.
By any reasonable
[more]

NL

Boards Post

mungofitch replied to the Berkshire Hathaway board. 7:10 AM

Re: OT: Mining Companies

BTW what is the "no close substitute" moat for Wells Fargo?
After all it is just a pipeline for the most fungible commodity of all, money.


They have some soft skills which, apparently, are not easily [more]

NL

Boards Post

mungofitch replied to the Berkshire Hathaway board. 7:04 AM

Re: OT: Mining Companies

" He took the cash today instead, selling at a discount representing only the time value of money."
...
The discount not only represents the time value of money. That discount also represented the difference
in the mining
[more]

NL

Boards Post

mungofitch replied to the Berkshire Hathaway board. 6:49 AM

Re: OT: Mining Companies

With all due respect, I think you are reducing the value provided by Exxon to absurd levels.
It would be saying Coke doesn't provide any real value because all they do is mix water,
sugar, and food coloring together. (Additionally there
[more]

Sun Dec 14

NL

Boards Post

mungofitch replied to the Berkshire Hathaway board. 6:28 AM

Re: OT: Mining Companies

Once you dig them all up and sell them, that's it.
...
That would be true only if the miners made no profit.


No, that doesn't follow.
Whether you made a profit or not, once you've dug up what's there, it's still [more]

NL

Boards Post

mungofitch replied to the Berkshire Hathaway board. 6:22 AM

Re: OT: Mining Companies

I bought some XOM recently based on the premise noted by berkshireone.
Also the fact that BRK bought XOM at a higher price.
But Jim seems to be arguing (I assume I'm missing something, hence the "seems")
that Exxon is but a
[more]

Sat Dec 13

NL

Boards Post

mungofitch replied to the Berkshire Hathaway board. 11:46 AM

Re: OT: Mining Companies

Speaking of Exxon, is there any substantive different between Exxon and BHP?
Aren't they both just selling commodities that come from the ground?
And if their businesses basically stink, how have they managed to grow to such
[more]

NL

Boards Post

mungofitch replied to the Mechanical Investing board. 5:59 AM

Re: $NAHL bearish

Jim, has your stance on IBM changed at all in light of them abandoning their 2015 forecast of $20 profit/share?

I suppose you could say that my central anticipated outcome is now lower than my old central expectation, so I'm [more]

NL

Boards Post

mungofitch replied to the Berkshire Hathaway board. 5:40 AM

Re: X-Post: Avian death lawsuit

One could argue that the absolute number of bird deaths is irrelevant.
All birds die from something. Few people care about that, let alone care about the cause.
Most kinds of birds have amazingly high reproductive rates, so this is [more]

NL

Boards Post

mungofitch replied to the Berkshire Hathaway board. 5:30 AM

Re: ...and another investment

(for those not paying attention, that's the Tim Hortons deal closing)

Jim

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