Many thanks for your detailed hard work and sharing. Do you have any insight on the risk of taxes on unrealised gains being implemented? This was highlighted in Chris Bloomstran’s recent shareholder letter review of BRK
I just finished reading Chris Bloomstran’s analysis yesterday and noted his comments on the tax issue. I don’t really have any insights on this — we will probably have to wait for the annual meeting for clarification. It would be a big deal if unrealized gains are taxed.
I’ve noticed that the annual letters are getting shorter in the last several years. Not sure if it’s a symptom of age or just a decision to focus elsewhere. At 92, I can’t fault him and have gotten immense pleasure and knowledge from reading the past letters.
Trivial note: WEB is a very long term Democrat but not lifelong. His father was a Republican Congressman in the 40s and 50s. Warren attributed his political shift to Susan and her strong support for social causes.
Yes, I think that's about right. My impression is that Buffett was attracted to the Democratic Party mostly due to civil rights issues in the 1960s. However, it has been several years since I read accounts of those years in the Lowenstein and Schroeder biographies, both of which cover that period in detail.
I wonder why did Buffett mention investments into Coca-Cola and AMEX in the letter.
Perhaps there have been complaints about these as slow growers (vs the inflation) and hence he wanted to show the beauty of slow compounding vs. the sale and tax realization.
I think he says if there was 1000 Berkshires nobody would need to pay income tax , so entrepreneurial spirit is key not to destroy with too much socialism.. also that growth is the only way out from the risk of runaway inflation and stagnation
Superb work and commentary as always. Thank you! I truly hope that the so called Inflation Reduction Act has some limit to the size of its enormous Grabbing Hand-millions of American shareholders have saved and invested post tax income to own pieces of these special companies like Berkshire. D.C. needs restraint more than demanding excessive taxation from these citizen owners of corporations who support American capitalism. WEB’s criticism was spot on!!!
Awesome. Thanks for the good work. Anything else bothering you in the report, other than Geico? I’m kind of excited about how big Clayton can get, and like the fact that we retain all the loans and service them.
Precision Castparts is another business to watch. There's still a lot of goodwill associated with the company and the 10-K provided details that might imply a write-down in the future if goodwill impairment tests are not met. Of course, that's a non cash accounting issue.
Many thanks for your detailed hard work and sharing. Do you have any insight on the risk of taxes on unrealised gains being implemented? This was highlighted in Chris Bloomstran’s recent shareholder letter review of BRK
I just finished reading Chris Bloomstran’s analysis yesterday and noted his comments on the tax issue. I don’t really have any insights on this — we will probably have to wait for the annual meeting for clarification. It would be a big deal if unrealized gains are taxed.
I’ve noticed that the annual letters are getting shorter in the last several years. Not sure if it’s a symptom of age or just a decision to focus elsewhere. At 92, I can’t fault him and have gotten immense pleasure and knowledge from reading the past letters.
Trivial note: WEB is a very long term Democrat but not lifelong. His father was a Republican Congressman in the 40s and 50s. Warren attributed his political shift to Susan and her strong support for social causes.
Yes, I think that's about right. My impression is that Buffett was attracted to the Democratic Party mostly due to civil rights issues in the 1960s. However, it has been several years since I read accounts of those years in the Lowenstein and Schroeder biographies, both of which cover that period in detail.
Many Thanks for the summary.
I wonder why did Buffett mention investments into Coca-Cola and AMEX in the letter.
Perhaps there have been complaints about these as slow growers (vs the inflation) and hence he wanted to show the beauty of slow compounding vs. the sale and tax realization.
I think he says if there was 1000 Berkshires nobody would need to pay income tax , so entrepreneurial spirit is key not to destroy with too much socialism.. also that growth is the only way out from the risk of runaway inflation and stagnation
Superb work and commentary as always. Thank you! I truly hope that the so called Inflation Reduction Act has some limit to the size of its enormous Grabbing Hand-millions of American shareholders have saved and invested post tax income to own pieces of these special companies like Berkshire. D.C. needs restraint more than demanding excessive taxation from these citizen owners of corporations who support American capitalism. WEB’s criticism was spot on!!!
Great stuff!
Thanks
Will you also do a write up on the annual report?
I also hope Joe Brandon can take over at Geico. I’m not liking the trend there.
I might have time to write more about the report this week. I’ve read the entire report and updated all of my spreadsheets - an annual tradition!
Awesome. Thanks for the good work. Anything else bothering you in the report, other than Geico? I’m kind of excited about how big Clayton can get, and like the fact that we retain all the loans and service them.
Precision Castparts is another business to watch. There's still a lot of goodwill associated with the company and the 10-K provided details that might imply a write-down in the future if goodwill impairment tests are not met. Of course, that's a non cash accounting issue.
I guess Geico would be a great question for the annual meeting and hopefully there is a detailed commentary.
No doubt about it ... Ajit Jain has been very candid on GEICO's troubles in the past and I'd expect the same this year.