Wednesday, August 19, 2020Volume 1, Issue 36 Buffett Reshuffles Berkshire’s Bank Holdings Berkshire Hathaway’s 13-F report, filed with the SEC on August 14, revealed that Warren Buffett sold several bank stocks during the second quarter. Dataroma’s presentation is easier to read than the raw
Berkshire Hathaway’s Great Transformation
On a spring day in 1964, Warren Buffett received a letter from Seabury Stanton offering to purchase the Buffett Partnership’s stake in Berkshire Hathaway. Buffett and Stanton had agreed to a price of $11.50 but Stanton’s letter offered only $11.375. This annoyed the thirty-three year old Buffett and he started buying more shares starting his long journey of transforming Berkshire Hathaway into what it is today.
Buffett’s SEC Filing Implies Repurchases
On July 8, Warren Buffett submitted a regulatory filing to document his annual contributions of Berkshire Hathaway stock to several charitable foundations. The filing included the total number of shares Buffett held as of July 8 along with the percentage of economic interest of Berkshire he controlled as of that date. Sharp-eyed investors and journalists noted that the disclosure implied that Berkshire has been repurchasing shares.
The Buffalo News: From Butler to Buffett
From Butler to Buffett provides a great example of the evolution of newspapers from the late nineteenth century up through the consolidation of the industry that was largely complete a hundred years later. Murray Light provides a fascinating account of how the paper transformed from a scrappy startup founded in 1873 into the only surviving newspaper in the city 110 years later following Buffett’s acquisition of the paper.
Berkshire Hathaway Annual Meeting Questions
Berkshire Hathaway will hold its 2020 Annual Shareholders Meeting on Saturday, May 2 at 3:45 pm central time, as previously scheduled. However, due to the current pandemic, shareholders will not be allowed to attend in person. The only managers who