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softdude2000  Softdude

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  • kfh227 2011-06-03 21:30
    Sent me this a while ago: Do you know answer to my comments here: http://www.gurufocus.com/news.php?id=125588 KO when Buffett bought it was a different company.  They were basically a brand that collected royalties.  They only made the syrup for its soda.  It was not very capital intensive back then for KO.  The expenses were on the bottlers shoulders.  Today, they own the bottlers.  It was a much more easy to understand compan ...

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  • softdude2000 commented on batbeer2's article 03-26 09:36
    Yesterday Is History, Tomorrow a Mystery, now DJCO is a Present.
    Leucadia, Fairfax, Berkshire and Loews can’t hold a candle to the Daily Journal Corporation (DJCO). The company has increased book value per share...
    View all 36 comments
    softdude2000 03-26 10:36
    • Thanks for the reply. DJCO is $270M. DJCO owns 1.59M shares of WFC. So it is 1/3 of DJCO. Another 1/3 is other portfolio. Another 1/3 DJCO is DJCO business. I am willing to swap WFC for WFC of DJCO and DJCO business. I am good with swap idea of 2/3 of DJCO. DJCO is like VC business and I want to risk that with a managing partner like Charlie and Guerin.

      But my problem is with 1/3 DJCO - BAC and other portfolio. Munger bought BAC very cheap but if I buy DJCO today, I will be getting BAC not cheap but almost market. Will I swap 2 shares of BAC for one share of WFC - I dont know. Is intrinsic value of $90M portfolio is same as intrinsic value of $90 of WFC.
  • softdude2000 commented on batbeer2's article 03-25 21:54
    Yesterday Is History, Tomorrow a Mystery, now DJCO is a Present.
    Leucadia, Fairfax, Berkshire and Loews can’t hold a candle to the Daily Journal Corporation (DJCO). The company has increased book value per share...
    View all 34 comments
    softdude2000 03-25 22:54
    • Batbeer2, what do you think of doing a tax-free conversion of my WFC holdings to DJCO at todays prices...
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