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Berkshire Hathaway recently revealed that it had divested shares in a number of companies including Chevron and Amazon, and eliminated its position in GM. It's been rumored that Buffett has started investing in another car company.
Thoughts?
"Notably, Berkshire omitted one or more holdings from its public portfolio update and requested the SEC treat them as confidential for now."
No, not Tesla. Its a financial. Per Gary Gambino, a top Seeking Alpha author, especially on BRK, Berkshire requested confidential treatment for one or more positions this quarter on their 13F. If you compare their 10Q from Q2 to Q3, there is an increase of approx $1.2 billion in the "banks, insurance, and finance" category in Q3 that is not accounted for.
Not Tesla.
Last edited by treasurekidd; 11-15-2023 at 11:51 AM..
treasurekidd: So would you be willing to speculate on what company BRK is betting? I'm thinking a regional bank that has seen little price movement over the last 3-4 months. Maybe even back to March.
To add: It would seem to me the secret is so BRK doesn't get others driving the price up which implies a wait-and-see or foreknowledge and to keep the price low due to regulations they must follow concerning large purchases.
treasurekidd: So would you be willing to speculate on what company BRK is betting? I'm thinking a regional bank that has seen little price movement over the last 3-4 months. Maybe even back to March.
To add: It would seem to me the secret is so BRK doesn't get others driving the price up which implies a wait-and-see or foreknowledge and to keep the price low due to regulations they must follow concerning large purchases.
I have no idea what company it may be that they’re not disclosing, but Gambino seems to think it’s an insurance company. His reasoning seems sound IMO. See his comment below:
“Based on changes in the 10-Q from 2Q to 3Q, note 5 of the financial statements shows $1.2 billion of stock was bought in the "banks, insurance, and finance" category. Based on some of the positions that were sold this quarter (MKL, GL, AON), my guess is he is building a position in a small insurance company for future takeover possibility. Selling one company in an industry when buying another is a typical Berkshire move, like trimming CVX to add OXY.”
BRK has been a long time investor in Chinese EV company BYD (Build Your Dreams). BYD is one of the largest manufacturers of EVs in the world. BRK has cut down their ownership in BYD, largely because they think Elon Musk is not who they want to have as their competition in the EV world.
Several insurance cos. that saw outsized purchases the past few months.
VERY
HCI
JXN
MCY
SKWD
HRTG
JXN looks interesting to me but all these had % price increases last quarter or early in this quarter.
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