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Strategies & Market Trends : Buffettology
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To: Sr K who wrote (4526)1/28/2016 1:43:59 PM
From: Spekulatius  Read Replies (1) of 4691
 
Buying something does not change BRK's stated book at all, I thought that clear from my former post. They basically just swap one asset (cash) for another (ownership of the company).

BRK's tangible book will go down however, because BRK pays more than PCP's tangible assets are worth (the premium goes to goodwill).

Also FWIW, I don't think this buy will work out well , at least not near term. PCP's last quarterly results were already way below their forecast and based on the news I see from other Aerospace suppliers, Boeing and the energy business, I think this will get worse before it get's better.
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