Archive for the ‘Berkshire Hathaway’ Category

Portofio Activity

Saturday, September 20th, 2008

On Friday, I sold out of Berkshire Hathaway at $4500 a share. I purchase the stake in the fall of 2006 at approximately $3300/share.

In addition, I sold 50 shares of Alleghany at $380 only to watch it skyrocket to $420 at the market close. I bought into Alleghany about a month ago at $310 dollars a share.

The markets are very irrational right now, and the only reason the BRK, Y, and MKL are stock rocketing is because they do not trade options and cannot be shorted. Market makers are unintentionally manipulating the prices given all the AIG activity. The US markets are the equivalent of the Karachi Stock Market where stocks cannot be shorted. So much for the confidence and stability in the US markets…

I still hold MKL, SHLD, SHLD Leaps, and SPY Puts. I purchase the S&P puts to protect against a crash into the next several weeks here.

New Book:The Snowball: Warren Buffett and the Business of Life

Saturday, March 1st, 2008

The book is released on September 29, 2008. At 864 pages, it should be a great read for any Buffett fan.

From the review:

Book Description

Here is THE book recounting the life and times of one of the most respected men in the world, Warren Buffett. The legendary Omaha investor has never written a memoir, but now he has allowed one writer, Alice Schroeder, unprecedented access to explore directly with him and with those closest to him his work, opinions, struggles, triumphs, follies, and wisdom. The result is the personally revealing and complete biography of the man known everywhere as “The Oracle of Omaha.”

Although the media track him constantly, Buffett himself has never told his full life story. His reality is private, especially by celebrity standards. Indeed, while the homespun persona that the public sees is true as far as it goes, it goes only so far. Warren Buffett is an array of paradoxes. He set out to prove that nice guys can finish first. Over the years he treated his investors as partners, acted as their steward, and championed honesty as an investor, CEO, board member, essayist, and speaker. At the same time he became the world’s second-richest man, all from the modest Omaha headquarters of his company Berkshire Hathaway. None of this fits the term “simple.”

When Alice Schroeder met Warren Buffett she was an insurance industry analyst and a gifted writer known for her keen perception and business acumen. Her writings on finance impressed him, and as she came to know him she realized that while much had been written on the subject of his investing style, no one had moved beyond that to explore his larger philosophy, which is bound up in a complex personality and the details of his life. Out of this came his decision to cooperate with her on the book about himself that he would never write.

Never before has Buffett spent countless hours responding to a writer’s questions, talking, giving complete access to his wife, children, friends, and business associates—opening his files, recalling his childhood. It was an act of courage, as The Snowball makes immensely clear. Being human, his own life, like most lives, has been a mix of strengths and frailties. Yet notable though his wealth may be, Buffett’s legacy will not be his ranking on the scorecard of wealth; it will be his principles and ideas that have enriched people’s lives. This book tells you why Warren Buffett is the most fascinating American success story of our time.

About the Author

Alice Schroeder was a Wall Street analyst and a managing partner at Morgan Stanley when she decided at Warren Buffett’s suggestion to write full-time. Texas-born, Ms. Schroeder earned her undergraduate degree and an MBA at the University of Texas at Austin before moving east to work in finance. A former CPA, she lives in Connecticut.

Preorder below:



Q2 Markel and Berkshire Hathaway Earnings

Sunday, August 5th, 2007

Regarding Markel Corporation Q2 results:

Markel Corporation reported diluted net income per share of $12.15 for the quarter ended June 30, 2007 compared to $9.11 for the second quarter of 2006. Diluted net income per share was $22.02 for the six months ended June 30, 2007 compared to $16.77 for the same period of 2006. The combined ratio for the second quarter of 2007 was 89% compared to 86% for the second quarter of 2006. The combined ratio was 88% for the six months ended June 30, 2007 compared to 90% for the same period of 2006. Book value per common share outstanding increased 7% to $246.00 at June 30, 2007 from $229.78 at December 31, 2006 primarily due to comprehensive income of $146.9 million.

Regarding Berkshire’s Q2 results:

Warren Buffett’s Berkshire Hathaway Inc said on Friday second-quarter earnings rose 33 percent as higher insurance and utility profits offset pressure on housing-related businesses from the slowing U.S. real estate market.

Net income for the Omaha, Nebraska-based insurance and investment company rose to $3.12 billion, or $2,018 per Class A share, from $2.35 billion, or $1,522, a year earlier.

Operating profit, excluding investment gains, rose 22 percent to $2.51 billion, or $1,625 per share, from $2.05 billion, or $1,331.

Analysts on average had expected profit of $1,460 per share, according to Reuters Estimates.

Revenue rose 13 percent to $27.35 billion. Berkshire ended the quarter with $46.95 billion of cash, giving Buffett ammunition to make the big acquisition he says he wants.

Berkshire Hathaway Form 10-Q Berkshire Hathaway 10-Q

Markel Reports Second Quarter and Six Month Results - yahoo.com