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Warren Buffett Calls Out CNBC Talking Head in E-Mail to Whitney Tilson

December 13, 2012 | About:
CanadianValue

CanadianValue

207 followers
This is pretty cool. Whitney Tilson received an e-mail from Buffett that the Oracle had sent to CNBC correcting one of the talking heads who was spouting off about the Berkshire Hathaway (BRK.A)(BRK.B) share repurchase.

Here is the e-mail Tilson received from Buffett (which Buffett had sent to CNBC):

From: Debbie Bosanek, Assistant to Warren Buffett

Sent: Thursday, December 13, 2012 12:08 PM

Subject: from Warren Buffett

TO: Nik Deogun and Nick Dunn, CNBC

Gary Kaminsky earlier today made two major errors in describing our repurchase of 9,200 Class A shares yesterday. He first stated that I had in the past advised against repurchases generally. This is not true, and I’m enclosing material from the 1984 annual report where I discuss the conditions under which I strongly favor repurchases. This position has been repeated many times since then, both in annual reports and in interviews.

Mr. Kaminsky also made the statement that the estate that was a seller was better off by selling in 2012 than 2013. This, too, was incorrect. Estates receive a stepped-up basis upon death and therefore the estate did not have a gain regardless of when the stock was sold. The principle of stepped-up basis has been incorporated in the tax code for many decades.

Warren Buffett

And below is the attachment that Warren had sent to CNBC to support his e-mail:

20121213114041707

About the author:

CanadianValue
http://valueinvestorcanada.blogspot.com/

Rating: 4.5/5 (41 votes)

Comments

vgm
Vgm - 1 year ago
Wow, absolutely fantastic! Go get 'em Warren!
JUDS1234567
JUDS1234567 - 1 year ago
When Warren calls you out, you shut up and listen!
traderatwork
Traderatwork - 1 year ago
In your face!!! Over-pay Talking head.
Cowboy77
Cowboy77 - 1 year ago
I disagree. Buffett deserves to be called out for his hypocrisy. He has every right to correct Kaminsky if he's misstating facts but it doesn't change the fact that Buffett is a hypocrite.
Cowboy77
Cowboy77 - 1 year ago
Tell me even one company Buffett owns that Obama would be qualified to run. Buffett ended up with basically 2 wives and in the end married his maid. Nothing personal against his wife as I'm sure she's a wonderful and nice lady but we don't need Buffett giving anyone personal advice outside of investing. Read the book Snowball. He struck me as more of an idiot savant with a serious Mommy problem than anything else. Reminded me of Mr. Magoo.
brianbook
Brianbook premium member - 1 year ago
Cowboy 77 You do not know, what you think you know. Mr. Buffett's wisdom is "from a higher level of consciousness", with a proven track record.
Cowboy77
Cowboy77 - 1 year ago
A proven "investment" track record, Brianbrook. He's not a deity when it comes to his personal life by any stretch. In addition, you run the risk of overlooking all his contradictions and faults because he earned you a good return on your money and you want to ascribe him a God-like status. Two separate issues.

Like me and probably you and everybody else on this planet, he's got tons of baggage that skews his views of this planet. I've seen it written that he has several critics among people that were, at one time or another, close to him and saw him operate up close.
LwC
LwC - 1 year ago
The Forbes Fictional Interview: C. Montgomery Burns

http://www.forbes.com/sites/davidewalt/2012/04/20/fictional-interview-c-montgomery-burns/

"What do you think of Warren Buffet’s tax reform campaign?

Rich Mr. Buffet / sat on a tuffet / now he’s taking my cash away. / Well I’ve a question rhetorical / for the Omaha oracle / perhaps my share you will pay?"

sclarksons
Sclarksons premium member - 1 year ago
Warren did also, as anyone who has read the annuals will recall, explain why he wouldn't buy shares of BRK. He was also verbose about that, and yet failed to include that passage in the email to CNBC.

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