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From: Sr K9/26/2011 10:37:52 AM
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Berkshire Hathaway to Buy Back Shares

Berkshire Hathaway's board authorized the conglomerate to buy back an indefinite amount of its stock, a move that if utilized would be the first such effort under Buffett.

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To: Sr K who wrote (4115)9/26/2011 12:35:12 PM
From: richardred
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Is Mr. Buffett ready to start paying a dividend on his Berkshire Hathaway stock also? I thought I remembered he didn't want to pay a dividend because he wasn't for the double taxation of corporate profits.

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To: Sr K who wrote (4115)9/26/2011 1:10:35 PM
From: Jurgis Bekepuris
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There is no guarantee that Berkshire will buy back any shares. However, if they do, this implies that not only they consider BRK undervalued, they consider it more undervalued than other opportunities in the market. Which is significant considering the price drops on many equities.

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To: Jurgis Bekepuris who wrote (4117)9/26/2011 4:37:42 PM
From: Sr K
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There was further explanation in the Bloomberg article.

bloomberg.com

Maybe you've seen this since your post. It was a different buyback announcement than all others I've seen. Tied to book value so they will only buy if the price is "right".

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To: Sr K who wrote (4118)9/26/2011 5:13:14 PM
From: Jurgis Bekepuris
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Yes, I knew the announced terms. I stand behind everything I wrote:

There is no guarantee that Berkshire will buy back any shares.

They say this explicitly in the press release. Even if stock price drops below 1.1xbook, they may or may not buy.

However, if they do, this implies that not only they consider BRK undervalued, they consider it more undervalued than other opportunities in the market. Which is significant considering the price drops on many equities.

Even if BRK stock price drops below 1.1xbook, buying back shares means that Buffett does not see a better investment for the cash. Which means that he considers BRK more undervalued than other opportunities in the market.

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From: dave_s10/1/2011 1:23:34 PM
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Buffet should stick to his knitting and stop getting into political debates

finance.yahoo.com

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From: J Mako10/19/2011 4:30:32 PM
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re: Buffettology vs New Buffettology

Which one should I get?

p.s. I'm well read in Graham's and Buffett's annual letters. I think Buffettology will be a good refresher/reference on how to value growth stocks.

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To: J Mako who wrote (4121)10/20/2011 12:15:59 AM
From: Jurgis Bekepuris
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I've read Buffettology and I use its formula somewhat. I started reading the New Buffettology, but have not finished yet. From what I understand it is more of a supplementary book, not intended to replace the first one. The original Buffettology is worth reading at least to notice how their examples don't work almost immediately after the book was published. KO for the last 10+ years is a good example: finance.yahoo.com

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From: DividendYields10/21/2011 4:32:13 AM
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Donald Yacktman - Yacktman Focused Q3-2011 Fund Portfolio + Here is a current portfolio update of Donald Yacktman’s - Yacktman Focused - portfolio movements as of Q3/2011 (September 30, 2011).

+ bit.ly +

In total, he has 36 stocks with a total portfolio worth of USD 2,972,676,000.

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To: Jurgis Bekepuris who wrote (4122)10/21/2011 4:41:13 AM
From: J Mako
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Jurgis,

In your opinion, is it worthwhile to study the "formulas" in Buffettology?

So far, my valuation approach has been based on Graham's Security Analysis. But Graham never discussed how to cater for growth. And Buffett never explained how he accounts for growth in his writings.

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