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Author Topic: How the hell does Warren buffet do it?  (Read 2048 times)
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« on: November 04, 2006, 12:15:56 AM »

Buffett's Berkshire profit almost quintuples
Firm's insurance operations rebound from last year.
November 3 2006: 6:53 PM EST


NEW YORK (Reuters) -- Warren Buffett's Berkshire Hathaway Inc. said Friday third-quarter profit nearly quintupled, as its insurance operations rebounded a year after paying out billions of dollars in hurricane claims.

Net income for the Omaha, Neb.-based insurance and investment company rose to $2.77 billion, or $1,797 per Class A share, from $586 million, or $381, a year earlier.

 
Warren Buffett
 
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Excluding investment gains, profit totaled $2.6 billion, or $1,687 per share. Analysts polled by Reuters Estimates on average had forecast profit of $1,244 per share.

"Clearly, these are highly satisfactory ... earnings," said Buffett, the world's second-richest person, in a statement. "Just as clearly, our insurance business has benefited in a major way from the absence of catastrophe losses. This is due not to managerial brilliance but rather to good luck."

Buffett was not available for an interview, but his assistant Debbie Bosanek confirmed he wrote the statement.

Revenue rose 24 percent to $25.36 billion, helped by acquisitions and improved results at its Geico Corp. auto insurance unit and General Re Corp. reinsurance unit.

Expenses fell 6 percent to $17.66 billion from last year, when Berkshire suffered losses from Hurricanes Katrina and Rita.

Insurers raised premiums amid fears the 2006 hurricane season would be more active than normal. It has instead proven mild and Berkshire's insurance losses fell 47 percent to $3.2 billion.

"Berkshire is popping on all cylinders," said Steven Check, who oversees $500 million at Check Capital Management Inc. in Costa Mesa, Calif., including $100 million of Berkshire stock. "The storms took a lot of capacity among underwriters. Berkshire was able to push through significant increases in premiums and with few storms, it is profiting tremendously."

Among Berkshire insurance rivals are Allstate (Charts), Markel and Allianz (Charts).

Berkshire Class A (up $894.00 to $105,000.00, Charts) shares closed Friday up $894 at $105,000 on the New York Stock Exchange, and its Class B (up $28.00 to $3,501.00, Charts) shares rose $28 to $3,501. The Class A shares have risen 18 percent this year. The Standard & Poor's 500 index is up 9 percent, and the S&P Insurance Index is up 3 percent.

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« Reply #1 on: November 09, 2006, 07:31:36 PM »

Buffet is the man, and i love his approach to investing. He does not buy into all the hype surrounding the markets and often does not check his ticker prices on a daily basis.

As a lot of smart traders have once said, 'the market will fluctuate', this phrase epitomises the Buffet strategy of buying good companies which have often been overlooked or seen as past their prime. On a given day markets fluctuate, sometimes we know why, sometimes we don't. Does this mean we should check and analyze the markets every minute? NO! We are not professionals or in the industry and this is not our full time jobs. Hence, as outside investors we shall use the Buffet strategy of buying when shares of great companies are bottomed out or rising fast. We shall then sit on these shares until their potential is realised. As an outside investor it is near impossible for us to play the markets on a daily basis and win, hedge funds have 1000s of hours of research into their companies and employ half mill of software to analyze trends. We have no such facilities so like Buffet and Graham before him, we will buy great companies and look for the long position. If our great companies get hit hard in the next couple of months after purchasing the shares then this may give us a chance to pick up more shares on the cheap (if the numbers of the company still make sense, and no real catastrophe, then we can be certain out great firm will rise again and will make us money).

One tip: never buy into reports by the so called 'gurus', these guys get it wrong as often as we do, and they often have reasons for pushing certain stocks. Do your research, buy some books, download some tools to analyze the markets of the net, make sure you understand economics of the market your investing in, understand all elements of a companies reports and then hope for the best.

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« Reply #2 on: November 09, 2006, 07:35:58 PM »

Other great investment techniques:

Use double the dow with Ultradow30 - research this fund and realise it potential of leaveraging your money.

Or, make a lot of money like i have by investing in emerging markets - chech out India and the Sensex, great returns to be had there.
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danielson
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« Reply #3 on: November 09, 2006, 07:36:15 PM »

Huge royalty checks from "Margaritaville"? Wink
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« Reply #4 on: November 10, 2006, 03:44:51 PM »

Huge royalty checks from "Margaritaville"? Wink

Do you know anything about investing? Have you made a lot of money for yourself investing?
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« Reply #5 on: November 10, 2006, 03:57:38 PM »

Do you know anything about investing? Have you made a lot of money for yourself investing?

Not really, I have had the same accountant since I inherited a little money when I was 18(he reps my whole family basically), I know what I own, but I don't know much about the market other than it has disappointed me in the last 5 years. Does that mean I can't make jokes?
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« Reply #6 on: November 10, 2006, 04:05:00 PM »

Not really, I have had the same accountant since I inherited a little money when I was 18(he reps my whole family basically), I know what I own, but I don't know much about the market other than it has disappointed me in the last 5 years. Does that mean I can't make jokes?

Damn, you're a touchy one, aren't ya?  Grin

I was actually asking a serious question.
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« Reply #7 on: November 13, 2006, 12:00:34 AM »

i worry about US markets.  We were on the verge of a collapse in 2001.  9/11 stopped that, because we went to war which is good for the economy.

Without a war, well... we may be in serious shit.
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« Reply #8 on: November 27, 2006, 04:58:06 PM »

Without a war, well... we may be in serious shit.

Well, we're probably safe then Cheesy
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« Reply #9 on: November 27, 2006, 04:59:01 PM »

Buffett is past being a genius; it's unimaginable that he has consistently done so well...
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« Reply #10 on: November 28, 2006, 08:18:06 AM »

Warren has a specific formula, it's been published many times.

Did you know warren Buffet has never seen the web site, www.warrenbuffet.com it's true.

The Beef
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