wescobrk

Anyone have notes to post from the May annual meeting for BH?

I think the cash is for two reasons: 1) lack of finding something cheap with S&P trading in the 20's on a multiple and 2) he is going to err more on the side of leaving a ton of ammo for Todd and Ted as he knows (sadly) his mortality is almost up (of course I'm rooting for him to live another decade. He was actually selling Apple during the lows of Covid last year shows how timid he is now towards marketable securities.

that's true, I can't believe I asked that question. I'll blame it on sleep deprivation. Thanks for the response.

My apologies if this has already been posted, but does BABA have any hedges for currency exposure? Another potential benefit is if one wanted to have a little less dollar exposure and wouldn't mind owning some renminbi.

So Calpers thinks a great job is 8.4% whereas an index fund I believe returned almost double that number? Meanwhile they are apoplectic about a guy receiving $16 million that created $50 billion of value, furthermore, according to the above link, their last few executives have been in prison and have lied about something as basic as a college degree. Glass houses. One reason maybe Calpers has so much news play is they are part of a union and are taking on the "evil capitalists. " "fund would have to achieve compound annual growth rate returns of 8.4% over five years for the CIO to reach the maximum $2.4 million."

I've read the Intelligent Investor. I understand how value investing works. My point is we don't know the target we are simply going on faith Ackman will make a great purchase. Most of the time he does but he has some really bad mistakes in the past as well: JC Penny, Herbalife, that horrible pharma company that he got in a media spat with Munger about and there are others

I started buying the warrants once they went below $10. So far I'm down. I also bought OACB warrants and I'm also down in those as well. So far it has been a bad "investment" more like speculation on my part.

50 billion dividend by $16 million is about 3000 years. Ajit joined Berkshire in the 80's so he worked for maybe 35 years so $50 billion divided by 35 is roughly $1.42billion. I don't remember the exact year Buffett said that but it was over 5 years ago right so 50 divided by 30 is 1.66 and let's say he made another 2 billion or so since then so let's round up to 1.7. If we use the Buffett performance from his partnership he kept 25% after 6 so roughly 20% let's say so that comes out to roughly $340 million a year you could argue even if you think I'm an idiot for using that number let's cut it in half that is $170 million or an order of magnitude higher than ISS's recommendation. I never researched how ISS came to be the default for fund managers not to think for themselves but they have some real idiots at ISS!

I applaud his decision to abandon the insurance company as there is nothing wrong with changing your mind if your initial analysis was wrong but I'm curious what analysis he did to form a holding company for insurance?

This is a quote from Calpers: “It remains unclear if any portion of [executive] pay is tied to company performance,” ISS said. “The continued lack of transparency raises concern as to whether the compensation committee is providing adequate oversight.” Are you fucking kidding me? The man has created over $50 billion of value per Buffett and Munger and his pay of $16 million is too much? WTF?

He said in the past he should have a company by the end of q1. He only has a couple of weeks to make good on that statement unless he comes out and says it will take longer than he initially thought. Except for his 2nd bet with credit default swaps last year he has done very well since his Herbalife days. Good to see that he is focused on money management again.

what do we put for the password to watch it? thanks.

Tilson said today, "mark my words Gamestop will be down 30% within a week." I guess his followers will buy $195 puts hand over fist that expire next week.

I think Chamath would do very well in politics. He actually has something in common with Trump. They are both brilliant in playing to the populist movement.

I finally read the WSJ article on Chamath. So he called Robinhood executives corporate scumbags and should go to jail and Robinhood declined to comment per the WSJ article. But Robinhood attacks a 97 year old Charlie Munger about being an elitist?! WTF?! Attack Munger but Chamath is hands off?