wescobrk Posted February 20, 2013 Share Posted February 20, 2013 I haven't seen a news release yet. I'm assuming we'll see Buffett's letter this Sat morning, right? Link to comment Share on other sites More sharing options...
xo 1 Posted February 20, 2013 Share Posted February 20, 2013 We have to wait this year. It will be released next Friday, after trading. http://blogs.wsj.com/deals/2013/02/19/buffetts-annual-berkshire-letter-to-come-on-friday-march-1/ Link to comment Share on other sites More sharing options...
fareastwarriors Posted March 1, 2013 Share Posted March 1, 2013 can't wait! Link to comment Share on other sites More sharing options...
Liberty Posted March 1, 2013 Share Posted March 1, 2013 can't wait! +1 :D Link to comment Share on other sites More sharing options...
Palantir Posted March 1, 2013 Share Posted March 1, 2013 Do all shareholders get it in the mail or do you need to request a copy? Link to comment Share on other sites More sharing options...
jeffmori7 Posted March 1, 2013 Share Posted March 1, 2013 Do all shareholders get it in the mail or do you need to request a copy? http://www.berkshirehathaway.com/ Link to comment Share on other sites More sharing options...
augustabound Posted March 1, 2013 Share Posted March 1, 2013 No surprise in this graphic really. Aside from Charlie I guess, WEB mentions Ajit the most. Hover your mouse over the persons name to see the quotes. http://graphics.wsj.com/from-the-mouth-of-warren-buffett/ I guess the Journal is trying to warm people up for the annual letter. ;D Link to comment Share on other sites More sharing options...
fareastwarriors Posted March 1, 2013 Share Posted March 1, 2013 Investors Line Up for Buffett Clues http://www.cnbc.com/id/100509850 Link to comment Share on other sites More sharing options...
Liberty Posted March 1, 2013 Share Posted March 1, 2013 Is the letter usually put up on Berkshire's site right after 4 PM, or later in the evening? Link to comment Share on other sites More sharing options...
oddballstocks Posted March 1, 2013 Share Posted March 1, 2013 In the mail, at least I've always received a hard copy of mine. Link to comment Share on other sites More sharing options...
augustabound Posted March 1, 2013 Share Posted March 1, 2013 Is the letter usually put up on Berkshire's site right after 4 PM, or later in the evening? I don't remember them specifying a time. Can you imagine the traffic to their web host at 4:01 if that was the case. ;D Link to comment Share on other sites More sharing options...
xo 1 Posted March 1, 2013 Share Posted March 1, 2013 From the press release, it is approximately 4:00 p.m. OMAHA, NE—Berkshire Hathaway Inc.’s 2012 Annual Report to the shareholders and its Form 10-K will be posted on the Internet on Friday March 1, 2013, at approximately 4:00 p.m. eastern time where they can be accessed at www.berkshirehathaway.com. The Annual Report will include Warren E. Buffett’s annual letter to shareholders and other information about Berkshire’s financial position and results of operations. Concurrent with the posting of the Annual Report and 10-K, Berkshire will also issue an earnings release. We'll see how robust the server is. Link to comment Share on other sites More sharing options...
fareastwarriors Posted March 1, 2013 Share Posted March 1, 2013 waiting... Link to comment Share on other sites More sharing options...
NormR Posted March 1, 2013 Share Posted March 1, 2013 It's up :) Link to comment Share on other sites More sharing options...
fareastwarriors Posted March 1, 2013 Share Posted March 1, 2013 yup, Thanks! Link to comment Share on other sites More sharing options...
Palantir Posted March 1, 2013 Share Posted March 1, 2013 YAY THE WAIT IS OVER Link to comment Share on other sites More sharing options...
AJB96 Posted March 1, 2013 Share Posted March 1, 2013 Here is the letter: http://www.berkshirehathaway.com/letters/2012ltr.pdf Alex Link to comment Share on other sites More sharing options...
Palantir Posted March 1, 2013 Share Posted March 1, 2013 They left me in the dust as well. ;D Link to comment Share on other sites More sharing options...
Yours Truly Posted March 1, 2013 Share Posted March 1, 2013 Good to see Ted's purchase of DTV making the big board Link to comment Share on other sites More sharing options...
Grahamisback Posted March 1, 2013 Share Posted March 1, 2013 They left me in the dust as well. ;D ;D It reminds me of a comment about Simpson in 2004 (But he's usually right.) ;) Link to comment Share on other sites More sharing options...
beerbaron Posted March 1, 2013 Share Posted March 1, 2013 What do you think he thinks about when he says: If float is both costless and long-enduring, which I believe Berkshire’s will be, the true value of this liability is dramatically less than the accounting liability My logic tells me that an endless revolving load is worth 100%. What do you guys think? BeerBaron Link to comment Share on other sites More sharing options...
Tim Eriksen Posted March 1, 2013 Share Posted March 1, 2013 What do you think he thinks about when he says: If float is both costless and long-enduring, which I believe Berkshire’s will be, the true value of this liability is dramatically less than the accounting liability My logic tells me that an endless revolving load is worth 100%. What do you guys think? BeerBaron My logic disagrees a bit with with yours. Would you rather have $100,000 or use the $100,000 to purchase a loan of $100,000 with no interest that is long enduring? The answer for me is I would rather have the $100,000 and not have to ever worry about the $100,000 loan. Thus it is worth less than 100%. Having said that, I do think the value is closer to $100% than say 50%. You also want to make sure not to double count the insurance operations and the float. If you value the float separately (whether or not at 100%) you then should only put a very conservative multiple on underwriting profits of the insurance operations since it may incur sizable catastrophe losses from time to time. Link to comment Share on other sites More sharing options...
kiwing100 Posted March 2, 2013 Share Posted March 2, 2013 Good clarity on dividend policy with a simple mathematical example - maximisation of intrinsic value to shareholders is still his focus. Link to comment Share on other sites More sharing options...
ap1234 Posted March 2, 2013 Share Posted March 2, 2013 The annual report was great! I have a question regaring one of Buffett's calculations (return on unlevered net tangible assets). On page 13 he says: “Viewed as a single entity, therefore, the companies in this group are an excellent business. They employ $22.6 billion of net tangible assets and, on that base, earned 16.3% after-tax.” Based upon the balance sheet for the Manufacturing, Service and Retailing Operations (pg. 12), how does Buffett calculate the $22.6 billion of net tangible assets?? Link to comment Share on other sites More sharing options...
kiwing100 Posted March 2, 2013 Share Posted March 2, 2013 The annual report was great! I have a question regaring one of Buffett's calculations (return on unlevered net tangible assets). On page 13 he says: “Viewed as a single entity, therefore, the companies in this group are an excellent business. They employ $22.6 billion of net tangible assets and, on that base, earned 16.3% after-tax.” Based upon the balance sheet for the Manufacturing, Service and Retailing Operations (pg. 12), how does Buffett calculate the $22.6 billion of net tangible assets?? Deduct goodwill from equity Link to comment Share on other sites More sharing options...
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