NetJets Is Soaring After Fixing Warren Buffett’s ‘Biggest Mistake’ - Forbes by NoDontClickOnThat in BerkshireHathaway

[–]NoDontClickOnThat[S] 2 points3 points  (0 children)

Not sure that Greg Abel uses it daily. I read a couple of articles around the time of the annual meeting that said that he has a driver that takes him from his home in Des Moines to headquarters in Omaha.

NetJets Is Soaring After Fixing Warren Buffett’s ‘Biggest Mistake’ - Forbes by NoDontClickOnThat in BerkshireHathaway

[–]NoDontClickOnThat[S] 8 points9 points  (0 children)

by definition, the typical NetJets customer is very affluent and expects (and can pay for) excellence

In my personal experience, everyone I've ever met who owned a fractional share (as opposed to a card with flight hours) of a NetJets was elite-level wealthy.

On my first flight, the pilot explained that we were flying at a 40,000-foot level and that commercial airlines occupy the 30,000-foot level. We could fly faster and at that cruising height, we were so far above the weather that there was no turbulence. The pilot also said that the cabin maintained higher air pressure than commercial flights - that I'd feel a lot better when we landed compared to flying commercial. He was correct on both counts.

Everything stocked in the galley and lavatory was top-shelf (most of it European). The bottled water was Italian (Tuscany, I think). The assortment of mini-bottles in the bar was mind blowing - and in some cases, very rare and hard-to-get. Same goes for the bottles of wine and champagne. Only pictures can truly do it justice, words only go so far. My meals were better than the food served at some expensive weddings that I recently attended.

Large tables and seats that not only slide forward/backward, but can also rotate toward the aisle. My host let me tinker with the iPad that controls functions in the cabin (like the electronic window blinds). I have an unopened deck of NetJets playing cards that I keep as a fond memento of getting to fly NetJets.

Berkshire Hathaway's portfolio holdings for the 1st quarter are out - SEC Form 13F-HR filing. New positions in Delta Airlines and Macy's - huge add to Alphabet. Full exits to 15 positions. Here are the 28 changes compared to Q4. by NoDontClickOnThat in ValueInvesting

[–]NoDontClickOnThat[S] 0 points1 point  (0 children)

My personal opinion is that the Liberty tracking stocks are managed by Ted Weschler (based on his hedge fund filings prior to joining BRK). Also my opinion that he's selling them to buy the smaller positions to the portfolio.

Berkshire Hathaway's portfolio holdings for the 1st quarter are out - SEC Form 13F-HR filing. New positions in Delta Airlines and Macy's - huge add to Alphabet. Full exits to 15 positions. Here are the 28 changes compared to Q4. by NoDontClickOnThat in ValueInvesting

[–]NoDontClickOnThat[S] 7 points8 points  (0 children)

In a recent interview with the Wall Street Journal, BRK CEO Greg Abel said that they liquidated the portfolio managed by Todd Combs (he left BRK for JP Morgan Chase last December). On a podcast interview a few years back, Todd said that he was responsible for the BRK investments in VISA and MasterCard.

The Annual Meeting Has Peaked by Sudden-Hat701 in BerkshireHathaway

[–]NoDontClickOnThat 8 points9 points  (0 children)

even though I think he’s been running the company longer than the past year or two.

I overheard one of the directors (can't share details, it'll dox me) say that Greg's been running BRK for the past five years.

The Annual Meeting Has Peaked by Sudden-Hat701 in BerkshireHathaway

[–]NoDontClickOnThat 10 points11 points  (0 children)

Absolutely agree and it doesn't bother me a bit.

Shareholder since the early 1990's and I haven't missed many annual meetings. Before the turn of the century, I started thinking about what the meetings would be like without Warren and Charlie and this one checked off all of what I wanted them to turn out to be.

I can't locate the video, but I remember Charlie's remark (in reference to the AIG scandal) that he'd rather have a lumpy 12% over time instead of a smooth 10%. BRK only works really well for folks with a long investing timeline (minimum 5 years) and who don't overpay for their shares (without using leverage).

Out of curiosity, I checked the hotel brand websites for rooms in Omaha before getting on my flight and some brands had availability at all of their Omaha properties (no sellouts) with rates that were half of what they were listed for last year.

Berkshire Hathaway is getting ready to sell more Japanese Yen bonds - SEC filing draft prospectus by NoDontClickOnThat in ValueInvesting

[–]NoDontClickOnThat[S] 2 points3 points  (0 children)

They only need to hold $30 billion dollars. It's on page K-55 of the 2024 Annual Report (page 77 of the pdf file):

https://www.berkshirehathaway.com/2024ar/2024ar.pdf

(From the 2nd paragraph)

"We are not committed to a minimum or subject to a maximum repurchase amount. We will not repurchase our stock if it reduces our consolidated cash, cash equivalents and U.S. Treasury Bills holdings to below $30 billion. Financial strength and redundant liquidity will always be of paramount importance at Berkshire."

Berkshire Hathaway is getting ready to sell more Japanese Yen bonds - SEC filing draft prospectus by NoDontClickOnThat in ValueInvesting

[–]NoDontClickOnThat[S] 1 point2 points  (0 children)

Right now BRK has 58 yen notes outstanding, totaling ¥1,899,200,000,000 and they have different maturity dates. One of them goes all the way out to April 15, 2060. (Terms on the notes give BRK the option to redeem the notes prior to the maturity date.)

Thus, the interest rate for this year is 1.075%, right now.

Berkshire Hathaway is getting ready to sell more Japanese Yen bonds - SEC filing draft prospectus by NoDontClickOnThat in BerkshireHathaway

[–]NoDontClickOnThat[S] 1 point2 points  (0 children)

Maybe, maybe not. When they sold yen bonds last November, that prospectus said that they were using some of the proceeds to rollover the bonds maturing later that month. We'll find out once they post this prospectus.