rationalwalk’s Activity

Sun Feb 2

NL

Boards Post

rationalwalk replied to the Berkshire Hathaway board. 5:57 PM

Re: Progressive

Nothing was taken out of context and I posted a link enabling anyone to review his statements for themselves. Disagreement and debate is the entire purpose of discussing anything here. Calling people idiots and mudslinging is something others have [more]

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Boards Post

rationalwalk replied to the Berkshire Hathaway board. 1:03 PM

Re: Progressive

Additionally, you thought Berkshire was worth 1.7 times book in early 2009, which hardly differs from my view of 1.8 times book.

Wow, I guess you got me!

Looks like a smoking gun right there indicating that I am [more]

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Boards Post

rationalwalk replied to the Berkshire Hathaway board. 12:28 PM

Re: Progressive

Post your audited investment returns and I'll post mine and we'll see who the real idiot is.

First off, my investment returns are none of your business. There is not a person on this earth who I owe that information to other than [more]

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Boards Post

rationalwalk replied to the Berkshire Hathaway board. 11:32 AM

Re: Progressive

BTW, bearmarketbully, you have zero credibility on Berkshire (or much else) based on your comments over the past year, easily found with a query on http://datahelper.com/mi/search.phtml. Frankly, [more]

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Boards Post

rationalwalk replied to the Berkshire Hathaway board. 11:19 AM

Re: Progressive

By the way, please pass along whatever it is you've been smoking. I'd love to try it.

Ah, Sunday morning internet trolling. I can see why you might be looking for escape through illegal means if this is your alternate source of [more]

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Boards Post

rationalwalk replied to the Berkshire Hathaway board. 11:12 AM

Re: Progressive

You disagree with me that Berkshire is worth 1.8 to 2.0 times book yet like Progressive at 2.3 times book?

Berkshire is a conglomerate comprised of many different insurance businesses (of which GEICO is only a part) as well as a large [more]

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Boards Post

rationalwalk replied to the Berkshire Hathaway board. 10:59 AM

Re: Poll: % of net worth in BRK

As for "get rich slowly", I think the consensus around here seems to be that Berkshire will modestly outperform the market for quite some time. And not too many consistently beat the market by much for a long period of [more]

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Boards Post

rationalwalk replied to the Berkshire Hathaway board. 10:46 AM

Re: Progressive

PGR's earning and stock price in the past 10 years barely move. Why is it a good business to own from a pure financial point of view?

According to Google Finance, it is true that Progressive's stock price is up only $2.58 over the [more]

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Boards Post

rationalwalk replied to the Berkshire Hathaway board. 10:16 AM

Re: Dave gave his 2 weeks notice!

Mr. Money Mustache

It is an interesting site that I found recently myself and he has some good pointers for saving money on things like cell phone plans. But I struggle to understand how anyone can support a family of three on [more]

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Boards Post

rationalwalk replied to the Berkshire Hathaway board. 10:03 AM

Re: She thinks like I would

How about a new format for the annual meeting with six seats up front: Warren Buffett, Charlie Munger, Ted Weschler, Todd Combs, Tracy Britt Cool, and Ajit Jain?

Obviously Buffett and Munger would continue to answer most of the questions but [more]

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Boards Post

rationalwalk replied to the Berkshire Hathaway board. 9:55 AM

Re: Poll: % of net worth in BRK

Berkshire is a "get rich slowly" or "stay rich securely" type of business so it wouldn't surprise me to see enterprising individual investors with a lower net worth owning less Berkshire as a percentage of their portfolio compared [more]

Sat Feb 1

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Boards Post

rationalwalk replied to the Berkshire Hathaway board. 12:53 PM

Re: Progressive

First and foremost a purchase of Progressive should be viewed as buying a very profitable and growing auto insurance business and gaining control of the investment portfolio should be considered a secondary benefit. It would indeed make no sense for [more]

Fri Jan 31

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Boards Post

rationalwalk replied to the Berkshire Hathaway board. 5:29 PM

Re: Progressive

I don't think owning a small portion of shares is as valuable as owning enough shares to control the company (and therefore invest some of it's float).

I'm normally skeptical of synergy as an argument for an acquisition but it really [more]

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Boards Post

rationalwalk replied to the Berkshire Hathaway board. 5:07 PM

Re: Progressive

I am comfortable with Berkshire's return on equity relative to its capital base (tangible + intangible). There is enough economic goodwill to justify 2x stated book value even given it huge size.

You can make that argument if you [more]

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Boards Post

rationalwalk replied to the Berkshire Hathaway board. 4:30 PM

Re: Progressive

PGR is at 2.2 times book and you scoffed at me when I told you Berkshire was worth 1.8 to 2.0 times book and Berkshire carries things well below true value on its balance sheet.

Do you believe that Progressive and Berkshire are [more]

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Boards Post

rationalwalk posted to the Berkshire Hathaway board. 1:43 PM

Progressive

Progressive is getting down to near its 52 week low. It is probably not a target for Berkshire since there have been many opportunities to buy it in the past. But it is still an intriguing idea for a few reasons:

1. Market cap of $14 [more]

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Boards Post

rationalwalk replied to the Berkshire Hathaway board. 1:14 PM

Re: 5-Yr Return

By the end of next year it's likely the buyback threshold will be over $180k, which would seem to suggest that today's $169k is pretty attractive.

Book value at 12/31/13 was probably around $132,000 per share putting shareholders [more]

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Boards Post

rationalwalk replied to the Berkshire Hathaway board. 8:54 AM

Re: Errors of Omission

"We trimmed or susbstantially cut many of our smaller positions. Here we need to make a confession(ugh): The portfolio positions I took in 1998 actually decreased our gain for the year. In particular, my decision to sell McDonalds was a very [more]

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Boards Post

rationalwalk replied to the Berkshire Hathaway board. 7:23 AM

Re: Errors of Omission

One theory I've read is that he had to sell McDonalds after the Dairy Queen acquisition for competitive reasons. This seems a bit odd to me given the relative size of the chains but it is one plausible theory.

Thu Jan 30

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Boards Post

rationalwalk replied to the Berkshire Hathaway board. 5:31 PM

Re: 5-Yr Return

Meant in jest presumably.

The point is valid in the context of how the five year test is constructed. The five year test measures Berkshire's progress in per share book value growth against the market return of the S&P 500. Many [more]

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Boards Stats & Trivia

Big red star, 1000 posts
Board Posts 3881
Recs Received 16341
People who have rec'd these posts 810
Recs to Posts Ratio (last 30 days) N/A
Threads Started 578
Threads Started Percentage 14.89 %
Most Frequent Board Berkshire Hathaway
Very First Post Re: Cap and Trade and Global Warming (4/16/2009)
Percentage of Posts Rec'd 75.83 %
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