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Berkshire Hathaway Board of Directors Approves Share Repurchase Plan

September 28, 2011 By Leave a Comment
Berkshire Hathaway Share Repurchase and Stock Repurchase Plan

I've made no secret of the fact I've been a net purchaser of Berkshire Hathaway shares for the past year.  The valuation seemed (and still seems) absurdly low relative to intrinsic value.  Apparently, the Berkshire Hathaway Board of Directors and management agrees.1  The company is now looking at itself as the best use of the firm's cash. To the point, a few days ago, The Board of Directors of Berkshire Hathaway announced that the company may repurchase its own stock at any time the share … [Read more...]

Filed Under: Stocks Tagged With: , , ,

Men Unlikely to Marry Women with Large Debts

September 23, 2010 By 5 Comments
Women in debt are less likely to find a mate

There was an article three weeks ago in The New York Times that began with the following paragraph: Nobody likes unpleasant surprises, but when Allison Brooke Eastman's fiancé found out four months ago just how high her student loan debt was, he had a particularly strong reaction: he broke off the engagement within three days. [snip] (The story goes on to say that Allison owed more than $100,000 due to the cost of her education.) When, exactly, are you supposed to reveal a debt of this … [Read more...]

Filed Under: Credit Card Debt, Student Loans Tagged With: , , , ,

My Birthday In Pictures

September 16, 2010 By Leave a Comment
Kelsey, Tyler and Ellie at Birthday Dinner

The birthday festivities began around midnight.  Most of my family was over visiting going over some details of something we needed to discuss.  Then, later that night (er ... morning) I got an email from Molly, who sent me a charitable gift card to Kiva, a wonderful organization. I woke up to one of my most favorite breakfasts in the world - a plain, untoasted bagel with cream cheese and strong black coffee - and then my mom stopped by with cupcakes.  Aaron, my youngest sister and I … [Read more...]

Filed Under: My Life Tagged With: , , , , , , , , , ,

How to Solve the Trade Deficit – Part IV

August 31, 2010 By 2 Comments
I Want My Country Back

This is part of my special on How to Solve the Trade Deficit. You can read Part I, Part II, or Part III if you missed them. The Increased Competition for Jobs Is Domestic, As Well You mention that standards of living have fallen, despite gains in things like iPods with 25,000 songs and the ability to connect instantly through the Internet.  The thing is: In many respects, it isn't true - standards of living haven't fallen - unless you fit one specific demographic, which we'll talk about in a … [Read more...]

Filed Under: Economics Tagged With: , , , , , , , , , , , , ,

How to Solve the Trade Deficit – Part III

August 31, 2010 By Leave a Comment
Knowledge Worker

This is Part III of my special on How to Solve the Trade Deficit.  If you missed the earlier parts, you can read Part I or Part II first. How to Solve the Trade Deficit - Knowledge Workers vs. Manual Workers In many ways, your question about the trade deficit has very little to do with global trade policies and everything to do with the rise of the "knowledge worker" class that Peter Drucker predicted in 1959. Drucker, the management guru who is to executives what Warren Buffett is to … [Read more...]

Filed Under: Economics Tagged With: , , , , , , , , , , , , , , , , ,

How to Solve the Trade Deficit – Part I

August 31, 2010 By Leave a Comment
The Products the Come from a Barrel of Crude Oil and Petroleum Based Resources

I received a question from a reader named Adam, who asked about the threat the United States trade deficit poses to our long-term financial health. It was an excellent, intelligent, well-articulated question that happened to arrive at the precise moment I was in the mood to talk about such an issue. The result is a five-part essay called How to Solve the Trade Deficit that explains what the trade deficit is, why the trade deficit threatens our safety, and why the loss of manufacturing jobs, … [Read more...]

Filed Under: Economics Tagged With: , , , , , , ,

In Honor of Warren Buffett’s 80th Birthday Today …

August 30, 2010 By 2 Comments
Warren Buffett's Birthday

In honor of Warren Buffett's 80th birthday today, I decided to personally sit down and examine all of the receipts at one of our operating businesses and look for any additional costs that could be cut.  We work hard to make sure expenses don't get out of control and everything is justified but it is always good to take some time to specifically examine everything you pay for and ask whether or not is central to the company's mission. We run such a lean ship that I didn't find a lot. But … [Read more...]

Filed Under: My Businesses, Saving Money Tagged With: ,

Where Do Millionaires Invest Their Cash to Keep It Safe?

August 26, 2010 By 3 Comments
Where do millionaires invest their cash?

I've been having a conversion about investing and money with the reader "Frat Man" in the comments section of another post.  He asked: I also had one other question I have always wondered. Where do millionaires keep their money? In the sense that FDIC insurance only covers $250,000 at the bank and SIPC only covers $500,000 at the brokerage. I mean, I can't see Bill Gates putting $250,000 at thousands of banks across the country, nor can I imagine Lou Simpson's net worth getting wiped down to … [Read more...]

Filed Under: Banking, Economics Tagged With: , , , , , , , , , , ,

Mental Model: Social Loafing

August 20, 2010 By Leave a Comment

If you were starting a project or business, common sense would tell you that you could produce 5x as much output if there were five people working on your goals than if there were just one person.  If you are running a counseling program, ten counselors should be able to do 10x the work as a single counselor, right?  If you are starting a candle company, twenty employees should be able to produce 4x the work as five employees, right?  If you are a mom cleaning out a garage, you should get … [Read more...]

Filed Under: Psychology Tagged With: , , , , , , , , ,

The Strap on my Montblanc Star Chronograph Automatic Broke (Another Lesson in the Time Value of Money)

August 18, 2010 By Leave a Comment
Montblanc Star Chronograph Automatic Watch

When I was 22 years old, or thereabouts, I bought a Swiss made Montblanc Star Chronograph Automatic stainless steel watch from Borsheim's during the Berkshire Hathaway shareholder meeting.  I wanted something that would last, God willing, for the rest of my life and would remind me of when I was young, just starting out, and successfully building my first businesses and got to hear Warren Buffett and Charlie Munger speak to me as an owner of one of the greatest companies in history.  It was an … [Read more...]

Filed Under: My Life Tagged With: , , , , , , ,
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