Warren, a year ago, you said Berkshire might increase its minimum valuation for share buybacks above 1.2
times book value if this occurred.
Not exact matches
Given your belief that Berkshire's intrinsic
value continues to exceed its
book value with the difference continuing to widen over
time, are we at a point where it makes sense to consider buying back stock at a higher break point that Berkshire currently has in place and would you ever consider stepping in buying back shares that did dip down below 1.2
times book value per share even
if that prior years» figure had not yet been released?
Even as the shares dipped down below the 1.2
times book value threshold during both January and February of this year,
if you base it on a buyback price calculated on Berkshire's
book value per share at the end of 2015.
If our estimate of Dec. 31
book value proves accurate, Berkshire shares trade closer to 1.4
times year - end
book.
«When Success Leads to Failure,» The Atlantic «The Gift of Failure,» New York
Times «
If Your Kid Left His Term Paper At Home, Don't Bring It To Him» New York Magazine «
Books That Changed My Mind This Year,» Fortune «New
Book Suggests Parents Learn to Let Kids Fail,» USA Today «7 Rules for Raising Self - Reliant Children,» Forbes «Before You Let Your Child Fail, Read This,» Huffington Post «How Schools Are Handling an Overparenting Crisis,» NPR «Why Failure Hits Girls So Hard,»
Time «The
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If you were Jim, what would be some ways you'd have a good
time during the show while also providing
value to Sell More
Books Show listeners?
Over
time, you'll certainly save money using the Kindle 2, especially
if you do more than read
books, but the true
value of the device lies in having all this content available in a single, lightweight device.
Consider the 4
books that are free today —
If you had to pick one to read you'd probably choose the one that seems most interesting and seems the best
value for your
time.
For example,
if you're charging $ 14.99 for a 90 - page paperback and you've got a slew of one - star reviews saying the
book isn't worth $ 14.99, it's
time to evaluate price versus perceived
value.
If a reader spends 2 hours going through a mediocre book and if we value that readers time at $ 5 per hour, that is still $ 1
If a reader spends 2 hours going through a mediocre
book and
if we value that readers time at $ 5 per hour, that is still $ 1
if we
value that readers
time at $ 5 per hour, that is still $ 10!
I guess
if every
book was available in electronic format with no DRM [Digital Rights Management; the ability to choose on which devices you can read and share a
book —
Books Editor] for reasonable prices ($ 10 max for new / bestseller / omnibus, scaling downwards for popularity and
value) it just wouldn't be worth the
time, effort and risk to find, download, convert and load the
book when the same thing could be accomplished with a single click on your Kindle.
And you can cancel at any
time if you don't think it's adding
value to your
book promotion efforts.
Did the
time and effort it took to type the
book out (
if it didn't already exist in an Indesign or Quark file somewheres) really add that much more
value than the
time and effort it took to make a paperback version?
MKL is on my great company watchlist, and
if it falls to
book value or below, it's likely to be an outstanding long term investment that will allow shareholder returns to match or exceed
book value growth over
time.
For example, I've had a couple questions from clients similar to this: «It's great that Markel can produce 15 % ROE over
time, but will we receive 15 %
if we're paying above
book value?»
If issued at 1.5
times book value, the proceeds need only earn a return equal to 2/3 of the pre-existing ROE for the EPS to remain the same.
MCT is summarized by William F. Sharpe, a Nobel laureate and typical efficient - market believer, when he stated in the third edition of his
book, Investments, that
if you assume an efficient market, «every security's price equals its investment
value at all
times» (page 67).
If this 10 % annual ROE, and two
times book value exit were to occur, the Internal Rate of Return (IRR) to TAVF on the investment would be 32 %.
If Buffett still measures his life by the
book value per share of Berkshire Hathaway, then for the first
time in forty years he must feel like a wasting asset.
For decades he has said he would only repurchase shares under certain conditions — specifically,
if they're selling for less than 1.2
times book value, says David Kass, clinical professor of finance at the University of Maryland's Robert H. Smith School of Business.
Stocks are marked «approaching
value limit»
if their current price - to -
book -
value ratio exceeds 2 1/2
times the initial criterion, or 2.00.
Given your belief that Berkshire's intrinsic
value continues to exceed its
book value with the difference continuing to widen over
time, are we at a point where it makes sense to consider buying back stock at a higher break point that Berkshire currently has in place and would you ever consider stepping in buying back shares that did dip down below 1.2
times book value per share even
if that prior years» figure had not yet been released?
I was challenged a while ago to figure out
if DIY investing is really worth it for regular people when you factor in the
value of the
time and effort spent — should I even be putting
time into things like the
book and course to help people learn to invest when robo - advisors are the future?
You are probably thinking, «Well
if all I have to do to become a billionaire is read all the
time then sign me up for the
value investor's
book club.»
Book value is only fair
if one can realize the
value over
time.
There are lots of moving parts, and I touched on the leverage / float aspect in a previous comment, but remember, Berkshire's 24 % annual growth rate in
book value is after tax, whereas Disney's 18 % during that
time is pretax (you have a tax liability that is due upon the sale
if you just owned Disney that entire
time).
The best
value is to be had at the lower category properties but,
if you're
booking for busy / peak
times, $ 210 for a Cat 5 or $ 350 for a Cat 6 property may save you cash.
I had found a really good fare that would allow me to try out the 787 - 9 Dreamliner on three separate segments but
booking it would mean breaking one of my few firm travel rules — I absolutely will not
book a flight
if I can't see what seat I'm going to be in (seat selection at the
time of
booking is one of the frequent flyer benefits I
value most).
At the same
time,
if you're the type of traveler that rarely stays in one place for four or more nights or perhaps exclusively
book hotels with points then this perk may not bring you much
value and could even be worthless.
The only
time it might make sense to
book through ThankYou.com is
if you also hold the ThankYou Premier, you'll get 25 % more
value from your points.
And Hyatt points are attractive, with some of the best redemption rates for its top properties: 22,000 Hyatt Gold Passport points, even for properties such as the Park Hyatt Paris or Park Hyatt Maldives, and
if you
book during a
time when that award room (or suite, in the case of the all - suite Park Hyatt Maldives) would normally go for $ 1000 / night, you're getting 4.5 cents per point in face
value.
Most of the advice in the
book is not jury - trial specific, so
if you spend any
time in court, this
book is of great
value.
«For example,
if your car has a Kelly Blue
Book value of $ 5,000 and you get into an accident costing $ 3,500 in repairs, you haven't been allocating your money correctly
if you've been paying for collision all this
time.»
If your car is totaled then you will receive a pay out based on your vehicle's blue
book value, not the initial worth, so having a car that keeps
value over
time is good to have.