SteveR's Comments RSS Syndication from SeekingAlpha.com http://seekingalpha.comuser/284492/comments http://seekingalpha.com/article/155998-enough-with-the-buffett-critics?source=feed#comment-628832 628832 Excellent article! I had a similar response to the Buffet Betrayal article. It sort of pushed me over the edge for a couple hours. I never could have articulated the points as well as you, so kudo's to you for that.

I love this, "while researching the company, I was shocked how few companies there are that replicate Buffett’s business principles".

The analogy I use is this. It's as if I am watching a basketball game in the 50's with Bob Cousy and the guys doing set shots and pivot moves and then Michael Jordan joins in and does these amazing dunks and moves and everybody stands around saying how crappy he is and keeps on working on their set shots, unbelievable.

I will offer a couple of my favorite CEO's that are close to Buffet but I still agree Buffet is the all time best. Both of them work for under 100K. One is Jim Sinegal at Costco. Both Buffet and Munger have given him praise in the past. The other is John Mackey at Whole Foods. I realize I am going to get ripped apart for this one, but much like Buffet, he is misunderstood after the whole yahoo board incident. I think Mackey's circle of care extends beyond Buffet's at the corporate level. He integrates the shareholders, employees, customers and suppliers. He is the most integral CEO on the planet IMHO. ]]> Thu, 13 Aug 2009 17:04:13 -0400 Excellent article! I had a similar response to the Buffet Betrayal article. It sort of pushed me over the edge for a couple hours. I never could have articulated the points as well as you, so kudo's to you for that.

I love this, "while researching the company, I was shocked how few companies there are that replicate Buffett’s business principles".

The analogy I use is this. It's as if I am watching a basketball game in the 50's with Bob Cousy and the guys doing set shots and pivot moves and then Michael Jordan joins in and does these amazing dunks and moves and everybody stands around saying how crappy he is and keeps on working on their set shots, unbelievable.

I will offer a couple of my favorite CEO's that are close to Buffet but I still agree Buffet is the all time best. Both of them work for under 100K. One is Jim Sinegal at Costco. Both Buffet and Munger have given him praise in the past. The other is John Mackey at Whole Foods. I realize I am going to get ripped apart for this one, but much like Buffet, he is misunderstood after the whole yahoo board incident. I think Mackey's circle of care extends beyond Buffet's at the corporate level. He integrates the shareholders, employees, customers and suppliers. He is the most integral CEO on the planet IMHO. ]]> http://seekingalpha.com/article/114651-what-will-happen-to-berkshire-hathaway-post-buffett?source=feed#comment-355577 355577
I think the more likely scenario would be this. Buffet will go and the market will overreact in typical fashion and oversell, presenting a really good buying opportunity.

]]> Wed, 14 Jan 2009 11:44:51 -0500
I think the more likely scenario would be this. Buffet will go and the market will overreact in typical fashion and oversell, presenting a really good buying opportunity.

]]> http://seekingalpha.com/article/112400-the-end-of-brand-advertising?source=feed#comment-340027 340027 Sun, 28 Dec 2008 20:02:57 -0500 http://seekingalpha.com/article/107415-buffett-serving-free-lunch?source=feed#comment-312968 312968
Yes, Buffet's derivatives have lost value because he did not time this transaction correctly, but he has stated over and over again that he can not predict the short term gyrations of the market. And, come on, who could have predicted the timing and magnitude of what has happened in the last two months, are you kidding? From Buffet:

"Thus, our derivative positions will sometimes cause large swings in reported earnings, even though Charlie and I might believe the intrinsic value of these positions has changed little. He and I will not be bothered by these swings – even though they could easily amount to $1 billion or more in a quarter – and we hope you won’t be either. You will recall that in our catastrophe insurance business, we are always ready to trade increased volatility in reported earnings in the short run for greater gains in net worth in the long run. That is our philosophy in derivatives as well."

Do you understand? really understand??? If you did, and gave a compelling argument for the change in intrinsic value then I would have no beef.

As mentioned in the comment above, BRK shareholders have not lost yet. They are just down 2 touchdowns in the first 4 minutes of the 1st quarter. You are on the other side taunting and celebrating unblushingly. Unaware of the 56-14 route that is about to come!]]> Sun, 23 Nov 2008 12:51:59 -0500
Yes, Buffet's derivatives have lost value because he did not time this transaction correctly, but he has stated over and over again that he can not predict the short term gyrations of the market. And, come on, who could have predicted the timing and magnitude of what has happened in the last two months, are you kidding? From Buffet:

"Thus, our derivative positions will sometimes cause large swings in reported earnings, even though Charlie and I might believe the intrinsic value of these positions has changed little. He and I will not be bothered by these swings – even though they could easily amount to $1 billion or more in a quarter – and we hope you won’t be either. You will recall that in our catastrophe insurance business, we are always ready to trade increased volatility in reported earnings in the short run for greater gains in net worth in the long run. That is our philosophy in derivatives as well."

Do you understand? really understand??? If you did, and gave a compelling argument for the change in intrinsic value then I would have no beef.

As mentioned in the comment above, BRK shareholders have not lost yet. They are just down 2 touchdowns in the first 4 minutes of the 1st quarter. You are on the other side taunting and celebrating unblushingly. Unaware of the 56-14 route that is about to come!]]> http://seekingalpha.com/article/107153-berkshire-hathaway-credit-risk-index-puts-are-overblown-worries?source=feed#comment-311340 311340 I've been a big fan of yours since back in the days of the Motley Fool and Dale Wettlaufer (mispelled?). I am not really familiar with CDS's and their trading activity, however, when the story ran yesterday a lot of the things you mentioned ran through my head. It was really nice to see such a well written piece that confirms and adds to some of my thoughts. I have been going around telling anyone I know that this is an opportunity that I have never seen, nor did I ever dream would see in my lifetime. I have 30 percent of my net worth in Berkshire and am thinking of going to 50.

Despite the crazy comments here which kind of explains the current environment, there are many of us out here who get what you are saying and appreciate greatly your efforts. Thank you so much!]]> Thu, 20 Nov 2008 22:37:42 -0500 I've been a big fan of yours since back in the days of the Motley Fool and Dale Wettlaufer (mispelled?). I am not really familiar with CDS's and their trading activity, however, when the story ran yesterday a lot of the things you mentioned ran through my head. It was really nice to see such a well written piece that confirms and adds to some of my thoughts. I have been going around telling anyone I know that this is an opportunity that I have never seen, nor did I ever dream would see in my lifetime. I have 30 percent of my net worth in Berkshire and am thinking of going to 50.

Despite the crazy comments here which kind of explains the current environment, there are many of us out here who get what you are saying and appreciate greatly your efforts. Thank you so much!]]> http://seekingalpha.com/article/105265-berkshire-hathaway-s-post-party-hangover?source=feed#comment-303016 303016 Tue, 11 Nov 2008 11:31:10 -0500 http://seekingalpha.com/article/101409-a-bailout-for-berkshire?source=feed#comment-288792 288792
I have a homework assignment for you. Go read Buffet's Fortune interview with Alice Schroeder about the Stock Market Valuation at the height of the tech stock boom around '99. It is also in his recent book, snowball. For a guy who doesn't look at the market as a whole, it is the best and simplest valuation method I have ever seen by anyone. I think if you understand his parameters, which are fairly simple, you can arrive at a conclusion that the market was overvalued greatly at the time. If we had to give it a number lets say it was a 10. Take those same parameters today, almost 9 years later (which by the way resulted in a SP500 net 10% decline) and you would conclude probably that the market today is about a 1 or 2. In other words, an order of magnitude lower. In goes the $30 billion.

You make good arguments and honestly I think you are far more intelligent than I am, but you need to zoom out and see the big picture. To use a Buffetism, it's as if you are looking at a beautiful women with a zoom lens and you are focused in on this slight blemish on her face telling the world how ugly she is. If you could just use that little button on the camera with the "-" sign and zoom out you would see the wonderful beauty that Buffet and I can see.]]> Thu, 23 Oct 2008 11:47:39 -0400
I have a homework assignment for you. Go read Buffet's Fortune interview with Alice Schroeder about the Stock Market Valuation at the height of the tech stock boom around '99. It is also in his recent book, snowball. For a guy who doesn't look at the market as a whole, it is the best and simplest valuation method I have ever seen by anyone. I think if you understand his parameters, which are fairly simple, you can arrive at a conclusion that the market was overvalued greatly at the time. If we had to give it a number lets say it was a 10. Take those same parameters today, almost 9 years later (which by the way resulted in a SP500 net 10% decline) and you would conclude probably that the market today is about a 1 or 2. In other words, an order of magnitude lower. In goes the $30 billion.

You make good arguments and honestly I think you are far more intelligent than I am, but you need to zoom out and see the big picture. To use a Buffetism, it's as if you are looking at a beautiful women with a zoom lens and you are focused in on this slight blemish on her face telling the world how ugly she is. If you could just use that little button on the camera with the "-" sign and zoom out you would see the wonderful beauty that Buffet and I can see.]]>