This is a ChatGPT-free Zone
During the financial crisis I did pretty well. I bought up some financials and other things and did pretty well coming out (having done well going into it too), but one of my biggest misses was Liberty Media. I have no excuse for missing that as I did own it in the past and did…
I haven’t posted in a while but that’s because I was busy with all the conference calls, annual reports, and of course, keeping up with all the stuff coming out of the Berkshire Hathaway annual meeting. Anyway, there is plenty of stuff out there on the annual meeting and I don’t have much to say…
So Apple has fallen below $400 and it seems like most people still talk about how cheap it is. Yes, it does look really cheap. But others have pointed out that Apple is only cheap if they can maintain their sky-high margins. I decided to take a quick look at this since I sort of…
OK, so maybe I’m the last person on the planet to notice this, but I just found this website by accident (trying to find the WFC 2012 annual report). It looks like it was put up recently (?). So Loews puts up a comic book, JPM puts up a nice promotional video, but WFC tops…
So the JPM annual report was put up yesterday. There is not much new here but as usual I’ll just make some simple comments and highlight things that struck me. One thing, though, is that at the front of the annual report (and at the end of Dimon’s letter to shareholders), they mentioned that they…
So the 2012 annual report is up on the website. They revamped it and Loews even has a new logo. Here is the new logo: I’m not an art major or anything like that so I don’t know anything about it but my first impression was that this looks a little retro, even Art Deco-ish. …
The Markel (MKL) results have been out, but I just noticed that the annual report is out too (I don’t check so it may have been out for a while). The MKL annual report is a very good read of you have the time to check it out. We know this from the earnings release, but…
So I made a post about the adjusted book value per share of Loews (L) and someone kindly responded that there are publicly listed MLP general partnership (GP) interests that I can use to value L’s GP interest and IDR (incentive distribution rights) in Boardwalk Pipeline (BWP). The thing to do, of course, would be to calculate the…
So I explained in my most recent post (Buffett Letter 2012) on Berkshire Hathaway (BRK) why investments per share is not worth investment per share to me. I know this makes no sense to many, and even Buffett would say it makes no sense. Cash is worth what it’s worth. No more, no less. I don’t have…
I may be jumping the gun here as Loews (L) annual report hasn’t come out yet, but since the 10-K is out I figured I would just update some numbers. Last year I made a post about adjusting L’s book value by adding or subtracting the difference between the market value of publicly listed holdings…