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brk got $10B of 8% cumulative preferred for its $10B. also an equity kicker. i owned andarko and made additional money. i also owned cvx and dodged a bullet.also deal fits in with recent purchase of dominion energy. nat gas pipelines. andarko nat gas. warren is sharp for an old man. yeah, icahn would have put up $10B for that deal. but, who else could. and who can act in 24 hours. warren does a deal with a handful of staff, accountants, lawyers. secret. fast. doesn't negotiate. he spends $10b and still has over $100B in cash. he understands huge deals. makes it simple. meanwhile, my boy, jim chanos, studies, goes through the numbers, understands and shorts tsla. meanwhile elon smokes pot, has fun with girls, smokes pot, runs a few companies, tweets and makes $billions. and ron baron has done right well. these guys play with big chips. ackman shorted herbalife. he lost a lot on a few investments. but, now he has made still more. druckenmiller was a brilliant young guy. he got a job with soros. he did a thorough analysis on a potential investment. he provided soros with a report with his analysis. soros read the report and called druckenmiller into his office. he said it was a great report. he agreed with everything except one important thing. druckenmiller said to invest $x , y% of his net worth in the idea. soros said when you find something like this, you invest at least some huge amount, some huge %of your net worth. buffett says you do not have to swing at every pitch. almost all say do not take unnecessary risk. be diversified. but some get rich (or go broke) playing huge bets. a normal person would grow a business to 50 restaurants and live like a king. it takes a crazy man, to borrow, leverage and build an empire with 1,000 restaurants. you have to be crazy, foolish, risk all to be ray kroc of mcdonalds. |
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Msg # | Subject | Author | Recs | Date Posted |
791662 | Re: brk got $10B of 8% cumulative preferred for its $10B. also an equity kicker. i owned andarko and made additional money. i also owned cvx and dodged a bullet. | twobytebus | 0 | 7/6/2020 2:16:20 PM |