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- Manlobbi
Stocks A to Z / Stocks B / Berkshire Hathaway (BRK.A) ❤
No. of Recommendations: 1
What do we think about Abel?
I can’t get past the fact that he effectively cashed out of his position when he sold his BHE stake. Sure he bought a ton of stock, but he took out more than he put in. Bothers me.
No. of Recommendations: 2
He put in around $100 million
Still real money today
Will be interesting to see his capital allocation skills outside of the energy sector
No. of Recommendations: 6
I can’t get past the fact that he effectively cashed out of his position when he sold his BHE stake. Sure he bought a ton of stock, but he took out more than he put in. Bothers me.
First, it's kind of a mathematical impossibility that he should buy back more than (or even almost the same as) he cashed out. Taxes, you know...
Second, I too kinda wished that Abel had worked out a stock-for-stock trade, but understand that "bought with his own money" is more in line with the company culture than "management got rich through stock grants". He did of course pay a very large cost for this virtue-signalling.
Third, Berkshire MUST gradually back away from the promise, that a prudent investor can put 99% of her eggs in this one basket. Perhaps the company SHOULD take a bit more risk in the future; NONE of us retaining so concentrated a portfolio forever.
We don't know anything else about Abel's personal finances or plans. Maybe he gave the rest of the proceeds away...
No. of Recommendations: 1
I believe he bought 68 million worth of berkshire and sold over 800 million of bhe, granted he has taxes to pay on the 800. he took cash out, significant cash out
No. of Recommendations: 6
I think Greg currently owns $125 million of Berkshire A- seems pretty substantial to me. I think Ajit owns about twice as much. Greg is wise and purchased the majority of his BRK at excellent times- September 2022 and March 2023 I believe. So like us, he will probably look to add when the discount is more dramatic. I am a Greg fan and even more of a fan as he paused to chat with me for a couple minutes on the CHI exhibition floor last year and even posed for a quick pic. Super nice gentleman. Amazing what he has done with BHE the last 25 years.
