... seeing BRK-B, a "value" / conservative mutual fund / insurance company spiking $8 / share (up 2.4%) was not on my bingo card today.
BRK-B won't close at a new new 52-week high today but it will come close.
Just think ... from an earlier post ... had Buffett not pulled the trigger on this purchase how much worse would BRK-B be doing today:
On Friday, March 4, 2022, Berkshire Hathaway disclosed a purchase of almost 30 million additional shares in Occidental Petroleum Corp., a Houston-based oil and gas company. The deal, worth roughly $1.6 billion at midday Monday, helped draw down his company’s near-record $146.7 billion pile of cash.
Risking $1.6 billion of his $146.7 billion cash hoard. Oh. My. Goodness.
Posted, 12:20 p.m. CT, March 9, 2022.
Holy mackerel, for inexplicable reasons, even SRE is up today. OKE is flat.
Later, March 12, 2022: it's being reported that Warren Buffett has bought another $1.5 billion worth of OXY. Link here. Another $1.5 billion off that $147 billion hoard of cash. OXY has a market cap of $55 billion; why doesn't BRK simply buy OXY? The fund would still have $100 billion in cash.
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A Musical Interlude
If there is such a thing as reincarnation, I want to come back as a lip-reading specialist. I would start with this video:
Interesting groups, ABBA. guys bilingual ladies were not to begin with. Spoke only Swedish. Memorized English words to sing. Many back stage rumors of mental abuse by guys to pressure the girls to learn better English with less accent.
ReplyDeleteUltimately led to their demise as a group.
"I do" and " I love you" probably easiest basic English phrases to learn
The more interesting thing is who wrote most of their hit songs.
DeleteBenny and Bjorn wrote everything. Manager Stig Anderson co wrote a few and Agnetha co-wrote one minor song.
ReplyDeleteYes, I should have used the word "influenced."
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