Stocks A to Z / Stocks B / Berkshire Hathaway (BRK.A) ❤
No. of Recommendations: 2
Adds: Goog, Disney, BABA.
Holding
Berkshire
Alibabs
Tencent
Prosus
Alphabet
Disney
Intel
Asos
Looking closely at AMZN.
No. of Recommendations: 1
And Meta oops
No. of Recommendations: 9
Berkshire Alibabs Tencent Prosus Alphabet Disney Intel Asos
Blackswanny, thanks for posting your holdings, but the list itself doesn't provide any insight. Also please label the post 'OT:', or include something in relation to the Berkshire Hathaway business also (and not just the ticker symbol).
Can you also write about why you are holding each one (or even one or two)? It can even be genuinely interesting to know your one sentence summary of what the merits of each investment (as starting point). Especially Asos and Prosus, many won't be familiar, so any introduction about those would be good especially.
- Manlobbi
No. of Recommendations: 6
I bought a pinch of Brookfield Corp (BN) today, but the position is tiny. Years ago I owned Brookfield Asset Management, now Brookfield Corp. BN owns some premier properties, and they're very good at attracting co-investors in the properties. Their business model of having co-investors and charging them a management fee has worked quite well for them. (Years ago they just owned properties without co-investors.) Before the distribution of the management business a week ago fee related earnings (FRE) made up half the value of the company. BN still owns 75% of the management business, which is now called Brookfield Asset Management (BAM). BN's share of the net asset value of the properties makes up the remainder of BN's value. Essentially Brookfield distributed 1/8th of its value to shareholders last week in the form of shares in the the new BAM. I've been re-looking at the value of BN and BAM. For the moment I'm using a value for BN of about $39 USD/share, which is far lower than Brookfield itself uses. Before the distribution Brookfield estimated the value of the company to be $82 to $94, which would put BN at about 7/8ths of that post-distribution. The closing price of BN today was $31.39.
BN is a way of owning real estate and infrastructure. While I consider BN to be a good company, I personally don't put it up there with companies like Berkshire Hathaway or Alphabet, my largest two holdings. Just FWIW.
No. of Recommendations: 1
In October and November I continued averaging down in Alphabet (GOOGL) and ASML (ASML). Alphabet, as we all know, is the market leader in search, and, as best I can tell, in AI. ASML is the only manufacturer of machines for fabricating sub-10nm computer chips. I paid prices as low as $83.65 for GOOGL and as low as $371.40 for ASML. Overall I am still in the red on GOOGL. BRK.B, GOOGL and ASML are my largest holdings. FWIW.
PS. My investing approach is to try to buy good companies when their stock prices are depressed, but many people on this discussion board are better than I am at investing.
No. of Recommendations: 2
I should say how I arrived at a preliminary valuation for BN of $39/share. I used this analysis from the Motley Fool Brookfield Asset Management discussion board
https://discussion.fool.com/t/conservative-valuati...updating the numbers to Q3 and subtracting the distribution of 25% of the management business (about 1/8th of the total value).
This analysis values properties at the IFRS carrying value and the fee business at 15x fee related earnings. Brookfield's 'plan value' values properties above IFRS and values the fee business at 25x to 35x fee related earnings.
A couple of people on the Motley Fool board and the Shred board who know BN and BAM better than I do have said that after the next financial reports come out they plan to update their estimates of IV.
No. of Recommendations: 4
More a lurker atm. Glad to see Jim is back too, he's my go to for summary Berkshire updates.
Outside of Berkshire I try to find obvious value plays, which frequently drop 20% after I buy and quality compounders which drop 30-50% after I buy!. So all good really.
I've been reading and watching a lot of Mohnish Pabrai and Munger recently. Hence the Chinese Investments, I have a 25 year horizon and I'm patient. Prosus was a discounted Tencent play and Asos I picked up at '6 after reading about Nick Sleep and his thesis (via Pabrai)
The others Goog, Disney, Meta etc, I simply look at the top 10 of the Superinvestor 6 month most bought list on Dataroma, do some further research and buy as and when funds come in. Not surprisingly Goog, Meta, Disney and Amazon are up there. I avoid financials and companies I don't understand.
Otherwise Berkshire is still c50%.
I did have some BAM, I got lucky and made 25% in a year but truthfully didn't understand the company and couldn't figure out a valuation so sold. I note Pabrai funds purchased BAM last qtr.
I'm also looking at some of the UK housebuilders atm as that's my profession industry. Persimmon Barratt etc.
Shrewd on.
No. of Recommendations: 9
My limit order for Carlisle Co. (CSL) triggered today. I've followed the company for about 25 years, and it's been in and out of my portfolio at various times.
Most of the company's revenues come from roofing products, esp. the rubber membrane stuff for flat-roof, mostly commercial buildings, and building wrap materials. It also has a sideline in aircraft wiring products. Over the years the company has added and divested an array of small businesses in such lines as tires, brake parts, food service equipment, etc. More recently, acquisitions have become more focused. Either way, management has a long track record of growing cash flow and earnings, and CSL has even outperformed BRK over various decent time spans.
The stock has gotten beaten down along with those of the entire construction industry lately and is currently trading at the low end of its historic EPS multiple, at approx. 11x projected 2023 EPS. I note that even if new construction slows a lot, roofs still need to be replaced, and this is esp. true if hurricanes become more commonplace. Some Carlisle products are manufactured in China, but a lot is still produced in the US.
https://www.carlisle.com/Home/default.aspx
No. of Recommendations: 0
Recently bought more DIS and added PARA.
Holding AAPL, MRVL, EBAY, MSFT, AMAT, CBOE, CVS, COST, WSM, JNJ, ACGL, and SNOW.
Recently sold MCK, VZ, and ZOOM.
I almost bought BABA when it was at 65 around Halloween but I'm more of an investor than a trader and couldn't bring myself to do it -- today it hit 115! Oh well.
abromber
