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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Jurgis Bekepuris who wrote (59462)	5/14/2017 9:59:13 AM
From: Spekulatius	1 Recommendation Recommended By clm5 Read Replies (2) \| Respond to of 78744

I think BRK's book value growth was a bit short of 10% during the last 10 years, so I think that is a reasonable assumption. Intrinsic value growth was a bit higher than that, but probably not much. I think some of the poster in CoBaF are a bit too optimistic here. I don't get Fairfax at all at current prices. I can buy something like AXS at a bit less than 1.1x tangible book and they have a decent track record and their loss pyramids look good (mostly reserve releases over the years). I think I the risk of a P/B value compression with Fairfax is very high. I would not sell when WEB steps down and passes away. I think this is probably going to happen in about 5 years. Munger at 93 looks very frail and could not lead a company like BRK any more, imo. I think the BRK brand will outlive Buffet and Munger and I expect the fall in share price to be less than 10% if WEB steps down or passes away. I do think there could be long term issues with leadership though.