Warren stated in the annual report, “I make many mistakes. Consequently, our extensive collection of businesses includes some enterprises that have truly extraordinary economics, many others that enjoy good economic characteristics, and a few that are marginal.” Which are the businesses with truly extraordinary economics? For example, Warren has called BHE and BNSF “good businesses, but not great businesses.”
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Insurance. With the caveat that only in Berkshire’s hands it’s a remarkable business.
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Not in the hands of Berkshire, in the hands of Buffett. Insurance will be good business, generating float, and minimal profits. Who will step into WEB shoes to continue to take float and generate all these excess returns? If you normalize insurance earnings and add operating earnings, is Berkshire undervalued, fairly valued or overvalued?
“Not in the hands of Berkshire, in the hands of Buffett. Insurance will be good business, generating float, and minimal profits. Who will step into WEB shoes to continue to take float and generate all these excess returns? If you normalize insurance earnings and add operating earnings, is Berkshire undervalued, fairly valued or overvalued?”
Who? All the these people have already been named and working for Berkshire and known for a while now by all shareholders. Old news.
Now any facts coming our way regarding post 270419, or was this post just a necessary deflection because none will be coming?
jk
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Who? All the these people have already been named and working for Berkshire and known for a while now by all shareholders. Old news
Berkshire has not formally named anyone that will take over the Chief Investment office role. Berkshire Insurance portfolio is not a typical Insurance company portfolio. Berkshire success is all possible because of the extra-ordinary gains generated by WEB investment.
If you think that will continue in future, because Berkshire has a bench that can easily step in and duplicate WEB, that my friend is delusional.
Berkshire has not formally named anyone that will take over the Chief Investment office role. Berkshire Insurance portfolio is not a typical Insurance company portfolio. Berkshire success is all possible because of the extra-ordinary gains generated by WEB investment.
“If you think that will continue in future, because Berkshire has a bench that can easily step in and duplicate WEB, that my friend is delusional.”
The only thing delusional above is your endless incorrect assumptions of what other think or believe. Nowhere did I infer that the future CIO or CIO’s would “duplicate” WEB. You are having an argument with only yourself. An online class in reading comprehension may be of some benefit.
jk
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Berkshire success is all possible because of the extra-ordinary gains generated by WEB investment.
“If you think that will continue in future, because Berkshire has a bench that can easily step in and duplicate WEB, that my friend is delusional.”
…
The only thing delusional above is your endless incorrect assumptions of what other think or believe.
Nowhere did I infer that the future CIO or CIO’s would “duplicate” WEB. You are having an argument
with only yourself. An online class in reading comprehension may be of some benefit.
Let’s not talk about the fellow having an argument with himself–we try to focus on the arguments rather than the person making them.
It’s hard to see the value in a stance that holds
(a) Mr Buffett lost his investing prowess years ago and has made almost nothing but blunders and one lucky pick, while
(b) his skill is so high that he’s irreplaceable.
“This army food is disgusting, and such small portions!”
Jim
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Nowhere did I infer that the future CIO or CIO’s would “duplicate” WEB.
I should know better not to engage with self proclaimed troll. Goodbye.
It’s hard to see the value in a stance that holds
(a) Mr Buffett lost his investing prowess years ago and has made almost nothing but blunders and one lucky pick, while
(b) his skill is so high that he’s irreplaceable.
I have not termed Buffett lost his investing prowess. Rather, I have repeatedly praised his $100 B gains. Either you are mistaking me for someone or you are just out rightly lying. Both are not surprises.
Separately, even if one considers WEB lost his touch, but the Berkshire empire is build on that great skill, the question is to sustain the past returns do we need such skill? Is it available?
That question is still valid. As usual you deflect, rephrase the argument, argue against strawmen. Why?
Nowhere did I infer that the future CIO or CIO’s would “duplicate” WEB.
“I should know better not to engage with self proclaimed troll. Goodbye.”
So I’m clear, you are not re-posting my comments to point out where I did in fact suggest that WEB’s performance would be duplicated. Instead, you are choosing to ignore that point. And you are not apologizing for suggesting I’m delusional; because, in the past, you have suggested you never attack anyone. Also, you are not taking this opportunity to correct yourself where just recently you suggested another poster “smears” YOUR facts, but here you are 4 or 5 posts later doing just that. And finally, the purpose of this post is simply a deflection.
proper summary?
jk
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So I’m clear
You are misrepresenting what I said and what you said too.
Rollback…
The original post said, Insurance is a good business, I replied saying it is an average business, it turned out to be a great business because of WEB’s investing skills. After WEB, Berkshire doesn’t have anyone to step in to produce similar investment gains. That’s what I posted as “WHO”?
*** Here I have acknowledged clearly Buffett’s investing skills
You claimed “Who? All the these people have already been named and working for Berkshire and known for a while now by all shareholders”
Saying Berkshire already has such people, shareholders know who they are.
If you think that will continue in future, because Berkshire has a bench that can easily step in and duplicate WEB, that my friend is delusional.
I basically pushed back there is no one named and there is no one who can replicate what Buffett did for Berkshire. I also called such a thought is delusional, not you as a person.
Nowhere did I infer that the future CIO or CIO’s would “duplicate” WEB. You are having an argument with only yourself. An online class in reading comprehension may be of some benefit.
*** Now, when I asked “WHO” you said such people already exist and the shareholder know and then turned around and claimed you didn’t say any such thing.
*** Then Mungo jumps and adds a blatant lie. I have not questioned WEB’s skills. He created a staw-man and argued. Mungo is a more subtle, but habitual liar. He twists facts, he would insinuate those who has different view point.
I should have ignored your post, responding to it is a mistake. Still responded because your claim is absolutely wrong.