mungofitch’s Activity

Yesterday

NL

Boards Post

mungofitch replied to the Berkshire Hathaway board. 12:34 PM

Re: Tough crowd

Net of the above is an increase in book value of $12.53bn or $7,630 per share, assuming the share price stays flat.

I was having a dim day.
There won't be any tax to pay on the boost in book value as far as I know,
but I [more]

Fri Mar 27

NL

Boards Post

mungofitch replied to the Mechanical Investing board. 4:00 PM

Re: MagicT12

The book was short and a good listen so I figured someone had this teed up.
I appreciate you looking.


I mentioned only the ongoing results of the approximation I invented, a materially different approach.
The ongoing results [more]

NL

Boards Post

mungofitch replied to the Berkshire Hathaway board. 3:53 PM

Re: Munger notes

Frankness is good, but it's a bit rich to be criticizing conglomerates,
with no further explanation, when you're so in love with what Berkshire Hathaway has done.


I think perhaps he is criticising not conglomerates, but [more]

NL

Boards Post

mungofitch replied to the Berkshire Hathaway board. 2:01 AM

Re: Kraft-Heinz Closing Date?

Sundry news articles say "second half of the year".

Jim

Thu Mar 26

NL

Boards Post

mungofitch replied to the Berkshire Hathaway board. 2:30 PM

Re: Tough crowd

Net of the above is an increase in book value of $12.53bn or $7,630 per share...

An interesting PS.
This is mostly a one time book value jump from a value gain that has been going on for two years.
Something that was on the [more]

NL

Boards Post

mungofitch replied to the Berkshire Hathaway board. 2:26 PM

Re: OT: Kraft calls

The sort of thing Jim would do.

...if Jim had known the appropriate insider information!

Right now Jim's vaguely musing about the scandalous idea of buying $100 2017 BABA calls.
Derivatives on derivatives, since BABA [more]

NL

Boards Post

mungofitch replied to the Mechanical Investing board. 1:10 PM

Re: MagicT12

Well, this is the performance since that post.
[more]

NL

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mungofitch replied to the Berkshire Hathaway board. 11:44 AM

Re: Tough crowd

WEB hits a grand slam and hardly a peep.

Well, how does this sound as a bullish view.

At the moment the Heinz shares are on the books at $11.66bn, basically the cost of the common shares plus the preferred.
I really don't [more]

NL

Boards Post

mungofitch replied to the Berkshire Hathaway board. 10:23 AM

Re: Kraft-Heinz - What am I missing?

Buck up, it dropped less than the average firm : )

Average S&P 500 firm price dropped 0.83% more than Berkshire's stock price did yesterday.

Jim

NL

Boards Post

mungofitch replied to the Mechanical Investing board. 3:50 AM

Re: OT:Office of Financial Research:Stocks overp

If one goes to Yahoo's financial/market website and crudely plots a regression on a log-log graph of the Nasdaq since 1975 (approximately), it appears today's market results are right on the straight line.

A couple of quick [more]

Wed Mar 25

NL

Boards Post

mungofitch replied to the Berkshire Hathaway board. 4:52 PM

Re: Question of the day

The occasional value investor, too.
Apart from Watsa, whom I know you adore, whom are you referring to?


Well, me!
(I didn't say they were famous...)

Oh, and Mr Cundill.
"Warren Buffett had indicated that [more]

NL

Boards Post

mungofitch replied to the Mechanical Investing board. 1:50 PM

Re: OT:Office of Financial Research:Stocks overprice

Translation: Stocks are way overvalued and companies’ earnings growth isn’t sustainable.

Though pretty much incontrovertible, it's probably worth adding that this
doesn't mean the stock market is about to go down.
Valuation [more]

NL

Boards Post

mungofitch replied to the Berkshire Hathaway board. 1:43 PM

Re: Question of the day

Hey, you also supplied us with Neil Young, Joni Mitchell, John Candy, and about fifty other true Hall-of-Fame superstars of pop culture.

Yeah. Something about comedians, for sure.

And female singers. I remember reading one [more]

NL

Boards Post

mungofitch replied to the Berkshire Hathaway board. 12:55 PM

Re: Question of the day

this is just one more thing Canadians have to say "I'm sorry" about.

Being Canadian, I like to take every opportunity to aplogise.
We're particularly sorry for having supplied the world with Jim Carrey and Justin [more]

NL

Boards Post

mungofitch replied to the Berkshire Hathaway board. 12:20 PM

Re: Done Deal: Kraft Foods Merges With Heinz

"Berkshire will own about $9.5bn worth of [listed] stock in the new entity,
...
Jim-I am not sure about the equity estimates of yours' or the subsequent posts.


I took the $9.5bn from a news article. I'm just the [more]

NL

Boards Post

mungofitch replied to the Berkshire Hathaway board. 11:51 AM

Re: Question of the day

By the way Mac and Cheese appears to be the national dish of Canada:

Not as far as I can tell.
It's called Kraft Dinner there, unless that has changed recently.
KD is to Canadian students what instant noodles are to Asian [more]

NL

Boards Post

mungofitch replied to the Mechanical Investing board. 11:34 AM

Re: A Weighted* View

What you're suggesting is called a Screen of Screens (SOS) in our jargon.
The idea has been around at least 15 years, and only today there was a suggested SOS using a handful of screens.
No one that I know of ranks ALL known screens
[more]

NL

Boards Post

mungofitch replied to the Berkshire Hathaway board. 10:48 AM

Re: Done Deal: Kraft Foods Merges With Heinz

So, our 4.25B investment is now worth 15.4B for a 362% return.

Not bad.


Don't forget the $720m/year in perpetual preferred income.
A billion here, a billion there...

Jim

NL

Boards Post

mungofitch replied to the Berkshire Hathaway board. 10:47 AM

Re: Creating an Elephant from two Gazelles

Mr. Buffett said Berkshire would own more than 300 million shares of the new company, and will have paid less than $30 apiece for them.
Currently trading at a little over $82, and that's one for one with the successor company.
So just [more]

NL

Boards Post

mungofitch replied to the Markel Corporation board. 10:22 AM

Re: Markel Portfolio

The relatively large number of names in the portfolio seems to me the way he goes about scouting for "the Michelangelos of today."
His historical performance has earned my confidence in this approach.
...
I don't see how
[more]

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