All things STOCKS

#17,779
#17,779
Thunder Good-Oil said:
WB said that they need to be positioned to be ready to use the cash when an opportunity arises. Even if it’s 5 years out.

WB said that he should (plans to) hand over the CEO roles to Greg Abel at year-end.

I thought it was interesting that they use Japan as their source when they need to borrow.

Also interesting that he acknowledged Tim Cook for creating so much value to BRK through their ownership of AAPL shares.

Buffett is showing his age. Repeating a lot of things and forgetting simple stuff. Abel had to remind him to show the financials as WB was trying to end the early session. I hope that he’s already delegated all of his decision making. He’s still good at telling stories from the past, but he doesn’t need to be making significant decisions going forward.
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I know it isn't easy to fill the shoes of WB, but I was surprised how nervous and uncomfortable Abel looked up there. That kind of surprised me given how long he's been around WB and is familiar with those shareholder meetings.

It's kind of like DeBoer succeeding Saban - don't think I'd want that job, although Abel has been groomed for a very long time.
 
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#17,780
#17,780
05_never_again said:
I know it isn't easy to fill the shoes of WB, but I was surprised how nervous and uncomfortable Abel looked up there. That kind of surprised me given how long he's been around WB and is familiar with those shareholder meetings.

It's kind of like DeBoer succeeding Saban - don't think I'd want that job, although Abel has been groomed for a very long time.
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I didn’t notice that, but I wasn’t watching closely. It was kind of boring without Charlie Munger. Buffett kept smacking his lips while eating that See’s Candy.

Ajit was awfully pissy. But maybe he’s always like that instead of being mad that he knew he wasn’t going to be the CEO in waiting. He’s also about 10-15 years older than Abel so surely he’s not surprised. Also Abel is the energy guy and Ajit Jain is the insurance guy. Growing the energy side is the strategic plan. I’m surprised that OXY has done so poorly, but cheap oil will do that when their space in the sector is primarily exploration and production.

I would have liked to have seen/heard from Combs and Weschler.
 
#17,783
#17,783
Thunder Good-Oil said:
I didn’t notice that, but I wasn’t watching closely. It was kind of boring without Charlie Munger. Buffett kept smacking his lips while eating that See’s Candy.

Ajit was awfully pissy. But maybe he’s always like that instead of being mad that he knew he wasn’t going to be the CEO in waiting. He’s also about 10-15 years older than Abel so surely he’s not surprised. Also Abel is the energy guy and Ajit Jain is the insurance guy. Growing the energy side is the strategic plan. I’m surprised that OXY has done so poorly, but cheap oil will do that when their space in the sector is primarily exploration and production.

I would have liked to have seen/heard from Combs and Weschler.
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Admittedly, I only saw clips. There was one in particular where WB let Abel answer a qyestuib, and he laughed nervously, said "Uh, yeah..." and then gave kind of a rambling answer that didn't really address the question.
 
#17,784
#17,784
05_never_again said:
Admittedly, I only saw clips. There was one in particular where WB let Abel answer a qyestuib, and he laughed nervously, said "Uh, yeah..." and then gave kind of a rambling answer that didn't really address the question.
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I think that he was kind of distracted with keeping an eye on and protecting Buffett while also having to formulate answers for questions from the attendees and also having Ajit glaring over his shoulder. Plus dealing with the live feed from CNBC. Any misstep was going to be played over and over. He had a lot to lose. Seems like a likable manager.
 
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#17,787
#17,787
Thunder Good-Oil said:
Not surprising. But based on what I saw Saturday morning, Buffett hasn’t been pulling the BRK strings for a while now. Munger seemed sharper at 99 than Buffett is at 94.
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Father Time eventually gets us all, but WB really seems to have aged over the last 12-18 months in particular. I heard he had a cane at the meeting over the weekend, and his voice sounds pretty weak. He looks and acts like you'd expect a 94-year-old to, but it is kind of jarring to see because he seemingly didn't age (especially mentally).

When he was 65 he looked like he was about 80, and when he was 90 he looked like he was about 80.
 
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#17,788
#17,788
05_never_again said:
Father Time eventually gets us all, but WB really seems to have aged over the last 12-18 months in particular. I heard he had a cane at the meeting over the weekend, and his voice sounds pretty weak. He looks and acts like you'd expect a 94-year-old to, but it is kind of jarring to see because he seemingly didn't age (especially mentally).

When he was 65 he looked like he was about 80, and when he was 90 he looked like he was about 80.
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He needs more than a cane. A couple of helpers practically carried him off.

He’s still mentally sharp for his age. But not sharp enough to be making major decisions for BRK. He might not last to year end as CEO. But I’m sure he’s planned for all of that.

The big question is how will the $350 billion in cash be used. WB doesn’t like giving the government 1% on share repurchases (a really stupid tax that needs to go away). Buffett loves collecting dividends but hates paying them.

I’d reckon that with Abel taking over the big acquisitions ahead will be energy and petro.
 
#17,790
#17,790
Go aeiou said:
Either thinks the mkt is overvalued or has his eye on a company to buy.
Maybe a possible recession?
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I don't think he sees any deals at the moment. He's thought that the market was rich for quite some time, and the S&P has only drawn down 8% from the most recent high. He emphasized that latter fact in his comments at the meeting; despite the freakout while the selloff was occurring it wasn't huge by historical standards and we've rallied hard off that low.
 
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#17,791
#17,791
It’s not like the Berkshire cash on hand isn’t earning a return. They are also leveraging that position buy borrowing the yen at 1-2% and buying higher yielding US bonds. PLUS… they will have a windfall once treasury rates finally begin to fall.

Ben Graham was more an advocate of owning debt than WB has been with BRK’s public holdings. It could be a huge, profitable trade for BRK while biding time for major acquisitions.
 
#17,792
#17,792
05_never_again said:
I don't think he sees any deals at the moment. He's thought that the market was rich for quite some time, and the S&P has only drawn down 8% from the most recent high. He emphasized that latter fact in his comments at the meeting; despite the freakout while the selloff was occurring it wasn't huge by historical standards and we've rallied hard off that low.
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I think we head back down to 5200-5400 like you stated in an earlier post.
 
#17,793
#17,793
PLTR earnings were scheduled after today’s close. I didn’t sell 135 calls today just in case they blow past the estimates.

I’m comfortable with my (covered) short of the 140 and 150 contracts. Better than limit orders to sell the shares.
 
#17,796
#17,796
Jax_Vol said:
Wow!!!

With PLTR, there is so much clock/dagger mixed with "day-trading", who knows...
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After hours in thinly traded. I’d guess that by the Tuesday close much of that will be mitigated.

I’ll try to cover my 140 and 150 calls early after the opening bell if there’s an opportunity. Sold at $3.30 and $1.66. Placed limits orders to buy and close out at $0.25 and $0.10.
 
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#17,797
#17,797
Thunder Good-Oil said:
After hours in thinly traded. I’d guess that by the Tuesday close much of that will be mitigated.

I’ll try to cover my 140 and 150 calls early after the opening bell if there’s an opportunity. Sold at $3.30 and $1.66. Placed limits orders to buy and close out at $0.25 and $0.10.
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I should have set those limits lower. They were all snatched in the opening minute at $0.20 and $0.09. At least my orders were improved, but the contracts are now $0.05 and $0.02. Live and learn. Still happy with the trades though. And still have all of the PLTR shares to do it again.
 
#17,799
#17,799
I can't invest in PLTR because I fundamentally disagree with what they do. I understand why others do, but I can't for the same reason I don't invest in Phillip Morris and other companies.

Check out $HIMS since the correction. I believe it's the NFLX of medicine in the not so distant future.
 
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#17,800
#17,800
mrorange211 said:
I can't invest in PLTR because I fundamentally disagree with what they do. I understand why others do, but I can't for the same reason I don't invest in Phillip Morris and other companies.

Check out $HIMS since the correction. I believe it's the NFLX of medicine in the not so distant future.
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HIMS is on fire.

Did the medical community ever formally concur that compounding the weight loss meds is a safe long term?

Ever since RFK Jr's name entered the picture, I bailed out on everything health related.
 
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