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Invest In Assets 📈
RT @InvestInAssets: Terry Smith is considered the Warren Buffett of Britain.
In 2010 Terry founded "Fundsmith" which has beaten the index by a substantial amount with a CAGR of 15.6%
Studying his investing strategy is more valuable than a degree in Finance
Let's break it down: https://t.co/s6w42nkpP5
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RT @InvestInAssets: Terry Smith is considered the Warren Buffett of Britain.
In 2010 Terry founded "Fundsmith" which has beaten the index by a substantial amount with a CAGR of 15.6%
Studying his investing strategy is more valuable than a degree in Finance
Let's break it down: https://t.co/s6w42nkpP5
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Hidden Value Gems
RT @HiddenValueGems: $BRK.A Q2 highlights:
✅ Buffett sells half of $AAPL stake, worth c $88B. Probably expects less upside in Apple and higher taxes in the future. Not sure a big strategic acquisition is on the cards…
✅ Cash pile at $277B, almost 30% of the Mkt Cap. A great position if we enter tough times.
✅ Insurance float at $169B.
✅ After-tax operating profit rose 15% to $11.6B, driven by higher insurance underwriting profits and increased income on the company’s large cash holdings.
✅ Bought back just $345M of stock in the period, one of the lowest quarterly totals in several years. That compares with $2.6B in Q1 2024 and $2.2B in Q4 2023.
✅ Book value per share rose to a record $419,000 per class A share from $398,000 on March 31, 2024. The gain in book value was driven by operating profits and the rise in value of Berkshire’s equity portfolio, which totaled $285B. Berkshire’s stock now trades for about 1.5x the book value.
✅ Geico’s combined ratio was 83% in the second quarter, down from 95% a year earlier.
✅ Profit at Burlington Northern Santa Fe, the railroad business, was down slightly to $1.2B after taxes in the second quarter from $1.3B a year earlier, and profit at Berkshire’s utility operations (Berkshire Hathaway Energy) declined to $655M from $785M a year earlier.
$BRK.A $BRK.B #BRK
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RT @HiddenValueGems: $BRK.A Q2 highlights:
✅ Buffett sells half of $AAPL stake, worth c $88B. Probably expects less upside in Apple and higher taxes in the future. Not sure a big strategic acquisition is on the cards…
✅ Cash pile at $277B, almost 30% of the Mkt Cap. A great position if we enter tough times.
✅ Insurance float at $169B.
✅ After-tax operating profit rose 15% to $11.6B, driven by higher insurance underwriting profits and increased income on the company’s large cash holdings.
✅ Bought back just $345M of stock in the period, one of the lowest quarterly totals in several years. That compares with $2.6B in Q1 2024 and $2.2B in Q4 2023.
✅ Book value per share rose to a record $419,000 per class A share from $398,000 on March 31, 2024. The gain in book value was driven by operating profits and the rise in value of Berkshire’s equity portfolio, which totaled $285B. Berkshire’s stock now trades for about 1.5x the book value.
✅ Geico’s combined ratio was 83% in the second quarter, down from 95% a year earlier.
✅ Profit at Burlington Northern Santa Fe, the railroad business, was down slightly to $1.2B after taxes in the second quarter from $1.3B a year earlier, and profit at Berkshire’s utility operations (Berkshire Hathaway Energy) declined to $655M from $785M a year earlier.
$BRK.A $BRK.B #BRK
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Librarian Capital
"UK motor premiums fall for 1st time in 2 years" (ABI)
24Q2 average motor premium -2% q/q (Q1: +1% q/q)
At £622, avg. premium is +21% y/y (23Q2: £511)
24Q2 avg. claim costs +0.4% q/q (Q1: +8% q/q)
$ADM shares -2.4% today, +24.3% LTM https://t.co/aCaYTZPIYT
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"UK motor premiums fall for 1st time in 2 years" (ABI)
24Q2 average motor premium -2% q/q (Q1: +1% q/q)
At £622, avg. premium is +21% y/y (23Q2: £511)
24Q2 avg. claim costs +0.4% q/q (Q1: +8% q/q)
$ADM shares -2.4% today, +24.3% LTM https://t.co/aCaYTZPIYT
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Librarian Capital
If we were to get a 1987-style crash, it would be deeply ironic for the people at Ruffer, having publicly predicted one in April and then (quietly) reversed their view in May
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If we were to get a 1987-style crash, it would be deeply ironic for the people at Ruffer, having publicly predicted one in April and then (quietly) reversed their view in May
Remember this from April? "Risk of 1987-Style Meltdown Sparks Ruffer’s Record Cash Bet"
Ruffer manager: "It could be within the next 3 months"
2 months later: "Acknowledging ... the passing of several risk events ... We added about 5% to our equity exposure" (May factsheet) https://t.co/tXsxAolMUv tweet
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Hidden Value Gems
RT @HiddenValueGems: Interesting that back in the 1970s, Japanese trading companies were viewed as the best vehicle to get exposure to the rising Japanese market.
They have been a great vehicle this time again, with Buffett exploiting this perfectly. https://t.co/NG04D82Fpp
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RT @HiddenValueGems: Interesting that back in the 1970s, Japanese trading companies were viewed as the best vehicle to get exposure to the rising Japanese market.
They have been a great vehicle this time again, with Buffett exploiting this perfectly. https://t.co/NG04D82Fpp
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Librarian Capital
Richard Oldfield called his decision to go to 40% cash on day of 1987 crash "the worst mistake of my career"
On holiday, he first thought there was little to worry
He "then made a terrible mistake ... went back to work"
(Source: "Simple but Not Easy") https://t.co/wRDjS5z27X
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Richard Oldfield called his decision to go to 40% cash on day of 1987 crash "the worst mistake of my career"
On holiday, he first thought there was little to worry
He "then made a terrible mistake ... went back to work"
(Source: "Simple but Not Easy") https://t.co/wRDjS5z27X
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Finding Compounders
Ron Barron’s Dec 2021 Quarterly report
- During inflation, Goodwill is the gift that keeps on giving
- Chuck Mathewson of IGT
-Buffett selling him on owning a Net Jets time share https://t.co/BimT1V6EDB
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Ron Barron’s Dec 2021 Quarterly report
- During inflation, Goodwill is the gift that keeps on giving
- Chuck Mathewson of IGT
-Buffett selling him on owning a Net Jets time share https://t.co/BimT1V6EDB
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