longterminvestor

Anyone else concerned the annual letter has not been sent to shareholders? And there is no annual meeting ? Since 2015 the annual letter was printed and sent to shareholders in March/April. Little bit more "consistently inconsistent" with the date on annual meeting. Just curious on thoughts.

I didnt see this until now however the post says it was uploaded on Wednesday. seems like there was a delay on my end. Feedback for Parsad.

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My math is a little different: Count as of Dec 31 Class A equivalent: 1,543,960 Count as of March 31 Class A equivalent: 1,525,655 (Count reduced by 18,305 shares or 1.2%) Count as of April 22 Class A equivalent: 1,522,371 (Count reduced by 3,284 shares or 0.2%) TOTAL BUY FROM DEC 31 TO APRIL 22 21,589 Class A equivalent shares or 1.4%

I listened, and your sentiments are correct. Same old stories, nothing new. Seemed like he took an outline from The Snowball.

3 hour podcast about Berkshire - Titled Part I. I haven't listened start to finish but wanted to share: https://overcast.fm/+Faxl9ffQE

Not much chatter here after the posting of the 2020 Annual, so I guess I will poke the bear. I did some looking in the 10K regarding the DFH transaction: They mention owning 4.801M shares of DFH in the "risks to business" section of annual, stating at time of writing on March 26, 2021 value was $111M. I have a couple comments: #1 - What happened to the 2.238M shares BOMN was getting at the IPO of DFH? The 10-K outlines in NOTE 18 titled "Subsequent Events" and the section DOES NOT mention an additional purchase. #2 - Reading this got me thinking, where is the $111M? I believe BOMN as of 12/31 is still valuing the DFH shares as an equity investment. So my conclusion is be on the lookout for a significant lift in assets in Q1. #3 - and related to point #2 above, why issue 2.345M shares of BOMN when Book Val is depressed when you are not showing the $100M+ in DFH stock on balance sheet? Hope time will solve this riddle for me. I find it interesting trying to piece all this together. Still long and thinking about buying more.

Anyone else eagerly awaiting the Annual Letter and 10-K? Posted some financials on fiber acquisition today. Hope to see progress and update on our company here...........

Understood on Gates Foundation being gifted B shares. I knew that. But to circle back, wouldn’t Gates Foundation, under mandate to dispose of shares in 12 years, naturally give BRK first right of refusal on the shares gifted by Mr. Buffett ? My point is 30% of the entire firm will be sold 12 years postmortem. That’s a certainty. So we already know the volume will be there - just hoping the price is right. And wouldn’t Mr. Buffett anticipate this and provide a rough plan to execute. I always have thought about this - interesting. Hope he loves to 100!

Barron's article is interesting - fact is volume is up to 2000 shares a day since Mid Feb. Whether Mr. Buffett is the buyer is not where my mind goes (obviously I hope its BRK buying). My question is more who is selling into that kind of volume on the A? Longtime A owners or flippers, I guess we wait and see. I have long thought about the 12 years post Mr. Buffett. Why would Gates Foundation sell back into open market - wouldn't it be so easy for Gates Foundation to sell out to BRK.A. Is there regulatory issue perhaps. Some gifting law I don't know. I have not been so much concerned with price as much as I have been concerned with lack of liquidity (2020 was not slouch at $24B). Anyone else thought of this?

I was poking around last night and found this link: https://www.nextlevelinvesting.org/mungerstories/ It is from Daily Journal Annual. Text shows dialog and has timestamps for corresponding video. Pretty neat. Mr. Munger is laughing so hard. That guy is just bigger than life.

Anyone have some good/great stories about the above to share? Some may not hit the news tape due to the lewd commentary, quirky nature of history, or unflattering result. I mean, a financial genius and a hero of mine (ours) signed his Christmas cards "Sincerely - Susie, Astrid, and Warren". The guy is the richest guy on earth, he can do what he wants I guess. The few that got me thinking were when Jack Ringwalt went to headquarters to pick up his check for selling National Indemnity, the seller was 10 mins late because he was trying to find a parking spot with time left on the meter. The other was Mrs. B basically unhappy with the fact that she sold her furniture business for substantially less than it was worth so she left the business and started a competitor which was ultimately bought by Berkshire and Buffett made her sign a life time non-compete. (I recently read this on twitter - is this true?) The Munger story about him setting his date's dress on fire because he was trying to impress her by smoking was incredible. You can't make this up. Anyway - spend time trying to figure out where the business is going. Just thought some fun stories about the past would be interesting to read about. I can dig up some others if no one has fun, obscure, interesting stories to share. Cheers!

https://attendesource.com/profile/web/index.cfm?PKwebID=0x778636a56&varPage=hotel 30 min video chat with Co-CEO's of BOMN. Wells Fargo analyst Steve Cahall moderates. Cahall's "hhmm, yeah, yeah, hmmm" gets a little annoying. Overall - pretty good high level on the business directly from the jockeys on the horse. Dated 12/1/2020. Enjoy!

thanks for the learning opportunity Cubsfan. What a move....20% in a couple days. Well done write up I found poking around on twitter regarding BOMN for those interested. https://introspectivecap.substack.com/p/long-boston-omaha-corp-nasdaq-bomn?r=9t03x&utm_campaign=post&utm_medium=web&utm_source=twitter Write up makes a compelling case on Fiber and thesis being Fiber is good capex in low served areas where access to DSL (old outdated phone lines) are the only access to internet. Lastly, another note on valuation on BOMN, the warrants in Yellowstone are worthless today but could be worth something if capital is well deployed. I think I read some where BOMN has warrants to own 37% of Yellowstone Acquisition Co.

I'm not a pro at reading S-1's and equity structures with Class A/Class B shares (as is the case with DFH). I try to be as detailed as possible when I post so with that in mind I do want to explore the chatter here on outstanding shares. Hoping to learn something here cubsfan. I took some time to review the filings from DFH and I have the following to report: #1 - BOMN filed a Form-3 (https://investors.dreamfindershomes.com/static-files/7237f8b8-c2b6-493f-8488-8b5ed8848b5b) showing 4,681,099 shares owned. And the form shows an "X" on the "10% Owner". THIS FILING WAS DATED 1/20/2021 #2 - Page 1 on the Prospectus filing (https://investors.dreamfindershomes.com/static-files/8989edca-b18e-4e1a-a44b-eee26ccf53d7) shows BOMN is buying 2,385,000 shares at the offering price. THIS FILING WAS DATED 1/22/2021 #3 - Page 181 on the Prospectus filing (https://investors.dreamfindershomes.com/static-files/8989edca-b18e-4e1a-a44b-eee26ccf53d7) shows 4,681,099 shares owned and BOMN being a 15.2% owner (rounded). What is weird to me (and I don't understand) is if they are buying 2.385M shares at the offering the share count pre-offer in this chart layout should be 2.385M shares less and post offering share count should increase 2.385M? I am very confused. THIS FILING WAS DATED 1/22/2021 #4 - Page 56 on the 8-K filing (https://investors.dreamfindershomes.com/static-files/28133d69-1318-44f3-9b66-28ee5d597b11) shows 4,681,099 share count for BOMN. What happened to the 2.385M shares purchased at the IPO? THIS FILING WAS DATED 1/25/2021 #5 - Page 2 on the 8-K filing (https://investors.dreamfindershomes.com/static-files/28133d69-1318-44f3-9b66-28ee5d597b11) shows 11,040,000 shares were completed in the offering. If you take the 21,255,329 shares pre-offering + 11,040,000 offered - you get 32,295,329 Class A shares outstanding. My initial share number in previous post did not add the additional shares in over allotment. #6 - CLASS B - Do we count the Class be shares in the outstanding share count??? If you count the Class B, yes shares out are 90M, but do you? This is confusing to me due to the CEO owns 100% of the Class B shares that are convertible to Class A. My conclusion after some time is BOMN owns somewhere in the range of 14%-15% of Class A shares on DFH and I my brain cant handle the implications of the Class B Shares (although I should investigate, BOMN has similar structure with Class B shares as well). I guess I am hoping someone can help me here - or we just wait a couple months for the filings to come through. But its fun to learn this stuff. Thanks!