Clayton Homes: An Admirable Track Record
At a time when the newspapers are full of stories about predatory lenders, irresponsible homeowners, and the terrible impact of foreclosures on the national economy, it is refreshing to read about a home builder that largely avoided the housing meltdown ...
Buffett on Municipal Bond Insurance
The steep market declines over the past year have left many state and local governments struggling with severely underfunded pension plans. The Wall Street Journal reported today that several states and municipalities are considering extreme measures to address pension shortfalls ...
Berkshire Valuation Two Column Approach
This post provides an alternate valuation for Berkshire Hathaway based on what is known as the "two column" method. Read this post for more information ...
Berkshire’s Misunderstood Derivatives
With all of the inaccurate information being reported about Berkshire's derivatives exposure, Warren Buffett apparently saw the need to devote several pages of his annual letter to shareholders to explain the situation in great detail. Unfortunately, it appears that most ...
Berkshire Intrinsic Value Estimate: $142K
This is the fifth and final installment of a multi-part series covering the Berkshire Hathaway 2008 Annual Report and Warren Buffett's letter to shareholders. In this post, I will consolidate the valuation estimates from the prior posts in the series ...
Berkshire Non-Insurance Subs Valuation
This is the fourth installment of a multi-part series covering the Berkshire Hathaway 2008 Annual Report and Warren Buffett's letter to shareholders. In this post, I will examine the valuation of Berkshire's Non-Insurance subsidiaries. As I noted in my earlier ...
Berkshire Insurance Subsidiaries Valuation
This is the third post of a multi-part series covering the Berkshire Hathaway 2008 Annual Report and Warren Buffett's letter to shareholders. In this post, I will provide a valuation estimate for the insurance subsidiaries of Berkshire Hathaway. Insurance has ...
Evaluating Berkshire’s Intrinsic Value
This is the second post of a multi-part series covering the Berkshire Hathaway 2008 Annual Report and Warren Buffett's letter to shareholders. The first post in the series covered some highlights from Warren Buffett's annual letter. The remaining posts will ...
Highlights from Warren Buffett’s 2008 Letter to Shareholders
This is the first of a multi-part series covering the Berkshire Hathaway 2008 Annual Report and Warren Buffett's letter to shareholders. In this post, I will provide highlights of Buffett's annual letter. In the following posts, I will attempt to ...