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  • Niko4809 commented on The Science of Hitting's article 11-08 10:36
    Unconventional Value Creation at Berkshire Hathaway
    In 2004, Berkshire Hathaway (BRK.A)(BRK.B) began entering into derivatives contracts tied to the long-term value of the S&P 500 plus three...
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    Niko4809 11-08 10:36
    • Great article once again, It's nice to see unconventional methods being used by Warren. It goes to show that the principles of Value Investing, from Ben Graham will never cease to work. The applications change but the principles will always be the same. 

      Raj, you have to remember that Warren invests all of the float in Marketable Securities. Berkshire has around 220B in equities, and as The Science of Hitting pointed out in his last article, around 127B in float and 125B in Cash & Equivalents. That means that if Berkshire had no float it would have to deploy all of their cash and borrow another 2B to keep their equity portfolio at 220B.
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