rclosch

Richard Losch

rclosch’s Activity

Mon Apr 25

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Boards Post

rclosch replied to the Berkshire Hathaway board. 2:42 PM

Re: Berkshire’s Cash Flow Machine

let's say from 2006 to 2016 in 10 years, BRK acquired about $136B worth of operating companies, or about $14B per year (based on rclosch's figures.) At a P/E of 14, they would contribute $1B in 2006, $2B in 2007 and so on till $10B in 2015. That [more]

Sun Apr 24

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rclosch replied to the Berkshire Hathaway board. 9:02 PM

Re: Berkshire’s Cash Flow Machine

This is not to say the rate of growth is actually picking up and trending upwards. (if only!). It's merely to say that as yet there is no particular sign of its slowing down,
despite the markedly slower real growth rate in the world economy in
[more]

Fri Apr 22

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rclosch posted to the Berkshire Hathaway board. 3:05 PM

Berkshire’s Cash Flow Machine

This is the intro to our Quarterly Letter it is not as long as Semper Augustus but it is a lot prettier. To read the whole thing, and see all the charts click on the link.

[more]

Mon Mar 28

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rclosch replied to the Berkshire Hathaway board. 5:43 PM

Re: Is BRK 35% Undervalued?

Of course, Berkshire tends not to trade at the value that this approach suggests.

In the 28 years that I have followed Berkshire it has traded at intrinsic value for maybe about 45 minutes. Always passing by hurrying in one direction [more]

Wed Mar 23

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rclosch replied to the Berkshire Hathaway board. 4:09 PM

Re: Berkshire's Cash Flow

Neither of those represents earnings in any meaningful way.
Deferred payment is good and useful, but not permanent.


Of course they are not earnings, but they generate tax free cash that Buffett uses to buy stocks any companies. [more]

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rclosch posted to the Berkshire Hathaway board. 12:30 PM

Berkshire's Cash Flow

Buffett has identified three sources of cash free cash flow at Berkshire Hathaway, the first and most well-known is of course, the float generated by Berkshire’s various insurance operations. In addition in his annual letter he identified [more]

Tue Mar 8

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rclosch replied to the Berkshire Hathaway board. 12:57 AM

Re: OT: S&P500 TTM P/E > 23

I assume your math is correct but the PE of 23 for the market as a whole certainly does not reflect the companies that I follow. The market has become highly bifurcated will a few very large cap stocks getting a lot of attention, and distorting the [more]

Tue Feb 9

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rclosch replied to the Berkshire Hathaway board. 8:58 PM

Re: Question on PSX Investment

Such reasoning would suggest that PSX is a relatively short term oriented investment. Decent returns for now, better than cash, but not really a fit long term.

What am I missing?


Your points are valid, and it is certainly too [more]

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rclosch posted to the Berkshire Hathaway board. 1:42 PM

Another 1.7 million

Last week though Wednesday BRK purchased another 1.7 million shares of PSX bring it's position to 74 million shares. Thursday PSX traded mostly above $79.00, if so past patterns hold they would have bought little or nothing. Friday the price was down [more]

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Boards Stats & Trivia

Big red star, 1000 posts Old School Fool
Board Posts 1185
Recs Received 15148
People who have rec'd these posts 1791
Recs to Posts Ratio (last 30 days) N/A
Threads Started 514
Threads Started Percentage 43.38 %
Most Frequent Board Berkshire Hathaway
Very First Post Re: 4% Annual Return (11/8/1999)
Percentage of Posts Rec'd 82.03 %
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