Monday, October 16, 2006

Flirting with 100 Grand

Shares of Berkshire Hathaway have seen a recent runup after emerging unscathed from an mild hurricane season. The stock recently surpassed the $100K mark in intraday trading. As an interesting side note demonstrating the deception of a price-weighted portfolio vs. a value-weighted, the DJIA would look substantially different if it included BRKA. Meanwhile, the S&P 500 is still 10% off its all time high.

WEB recently made a trip to Israel to visit his recent $4B acquisition, ISCAR, a world leader in metal working and metal cutting tools. Berkshire has shown interest in acquiring another large utility and is rumored to be seeking a position in China's Merchants Bank, news of which sent the shares skyrocketing. Berkshire's latest SEC filings reveal that the company has sold or reduced positions in GPS, LXK, HRB, and OSI and has bought shares of JNJ and USG. Also, amid recent scandals at Hewlett-Packard and UnitedHealth, the chairman reminded his top executives of the importance of strong corporate governance practices.

After giving GSB students a ride to Gorat's Steakhouse during our last visit, Mr. Buffett decided to auction off his Lincoln Town Car--the one with the license plate reading "THRIFTY". The winning bid was $73,200 on EBAY. That same week Buffett was involved in a minor fender bender when he was rear ended in his new 2006 Cadillac on his way to pick up fast food at Bronco's Burgers. Also, pro basketball's LeBron James was a recent guest of Buffett's for lunch in Omaha.

And finally as a follow up to last year's best-selling "The Little Book That Beats the Market" is the latest "The Little Book of Value Investing" by Christopher Browne (of Tweedy Browne) with forward by Buffett biographer Roger Lowenstein. The book's 16-point checklist helps investors examine a company's prospects.

Oh, and I almost forgot. Congratulations Warren and Astrid on your recent wedding!

Comments:
I have read hundreds of books on value investing, Warren Buffett etc, and publish investment tutorials on value investing myself. I highly recommend Greenblatt’s ‘the little book that beats the market’. It could be one of your best investments ever!

Success in investing,
Hendrik Oude Nijhuis
www.magicformulastocks.com
 
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Regards
Stock Tips
 
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