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Berkshire Hathaway AGM - Nebraska, Omaha
zizzi
#11 Posted : Friday, April 05, 2013 10:34:47 PM
Rank: New-farer

Joined: 3/2/2011
Posts: 33
Location: Nbi
Rollout wrote:
Everything Mr Buffett say is sweet for the ear but the fact of the matter is no one has become wealthy by following the fundamentals as Mr Buffett would advise you to. Apart from Mr Buffett no one can name anyone in millioniers club who made their money investing the Buffet ways. You are a millionier because you are an entreprenuer or because you are a corporate raider or an hedge fund manager( short sale and marginal trading).

Income statement is full of top-sides, reserves and true-ups.



Perhaps, but the fear of failure is surely no reason to not try..

Basically, I have no other ideas on how to make cash...so while I can, I am gonna try this.

So far, what i found is that to invest like this, you need an insane amount of discipline. After all the only way to buy a company cheap is when others dont like it...otherwise it would be expensive isnt it? So you need to analyse the company, the balance sheet, especially if it is in trouble, does it have the power to sustain the bad period. You have to make a call and then go with it. The Kenyan market is small and would not necessarily expose an investor to the true vagaries of the market.

Having said that, there have been some amazing companies on the NSE which are cheap..now though, with the rally, very few companies offer true compelling value - their share prices however may still go up substantially but because I compare to the fundamentals, I would not invest..perhaps to my own detriment.
Nabwire
#12 Posted : Saturday, April 06, 2013 5:46:56 AM
Rank: Veteran

Joined: 7/22/2011
Posts: 1,325
Which stock certificates did you get? I thought they no longer issue stock certificates, or did you just print out your brokerage account? So do you just show this cert at the gate or do you actually have to register online for the conference? Is it a one day thing or a 3 day conference? Assuming you bought the stock from Kenya, how easy/difficult was it? Did you have to get a tax ID number or just your Kenyan PIN was sufficient?
Ericsson
#13 Posted : Saturday, April 06, 2013 12:47:23 PM
Rank: Elder

Joined: 12/4/2009
Posts: 10,811
Location: NAIROBI
Berkshire Hathaway has an office in Kenya to scout for opportunities in the NSE
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
zizzi
#14 Posted : Saturday, April 06, 2013 2:39:19 PM
Rank: New-farer

Joined: 3/2/2011
Posts: 33
Location: Nbi
Nabwire wrote:
Which stock certificates did you get? I thought they no longer issue stock certificates, or did you just print out your brokerage account? So do you just show this cert at the gate or do you actually have to register online for the conference? Is it a one day thing or a 3 day conference? Assuming you bought the stock from Kenya, how easy/difficult was it? Did you have to get a tax ID number or just your Kenyan PIN was sufficient?


I didnt get stock certificates, just an electronic proof that I had bought those shares and that they were in my account at the time of the AGM.

But remember, I obtain my meeting pass before the AGM..but in my interactions with a lady at Berkshire, she said as long as I broughy my broker statements and picture ID to the Century Link centre in Omaha on the Friday before the shareholder meeting, somebody would be able to sort me out.

Still, for international travellers, for peace of purpose, I would suggest speaking to your broker and they would guide you on how to get the meeting credentials before hand.

It is essentially a one day conference, but with the three days of activities around it.

I did not buy it from Kenya - I was fortunate enough to have an online trading account in the UK through a friend (my friend and I had gone together).

However, if you want to invest in the US, I was told that TD Ameritrade might be able to hook you up with an account if you speak to them.

Alternatively, I think if you speak to Citi in Kenya or HSBC (I believe they have an office near Riverside Mews), I am sure they would be able to hook you up.

Let me give you an idea of the kind of people you might get to meet there..

http://www.valueinvestorconference.com/

Obviously, I couldnt afford that conference and it wasnt really value for me as I am a small investor, but if you are lucky, you might get to speak to some of these people as part of the AGM itself.
zizzi
#15 Posted : Saturday, April 06, 2013 2:50:07 PM
Rank: New-farer

Joined: 3/2/2011
Posts: 33
Location: Nbi
Ericsson wrote:
Berkshire Hathaway has an office in Kenya to scout for opportunities in the NSE


I doubt it
Market cap of the NSE is Ksh 1.6B as of 05th April 2013. Thats about US$19M.

Berkshire made US$14.8B last year. Assuming 250 trading days in a year, it made a profit of about US60m every day. Assuming a working day is 9 hours,

So the profit Berkshire made in about 2 hours and 45 minutes would allow it to buy the whole of the NSE.

Remember, with the profits Berkshire made in 1 year, it could buy half of Kenya's output in 2011.
kryptonite
#16 Posted : Saturday, April 06, 2013 3:08:02 PM
Rank: Member

Joined: 2/1/2010
Posts: 272
Location: Nairobi
zizzi wrote:
Ericsson wrote:
Berkshire Hathaway has an office in Kenya to scout for opportunities in the NSE


I doubt it
Market cap of the NSE is Ksh 1.6B as of 05th April 2013. Thats about US$19M.

Berkshire made US$14.8B last year. Assuming 250 trading days in a year, it made a profit of about US60m every day. Assuming a working day is 9 hours,

So the profit Berkshire made in about 2 hours and 45 minutes would allow it to buy the whole of the NSE.

Remember, with the profits Berkshire made in 1 year, it could buy half of Kenya's output in 2011.


Shame on you Shame on you
The harder you work, the luckier you get
zizzi
#17 Posted : Saturday, April 06, 2013 3:28:43 PM
Rank: New-farer

Joined: 3/2/2011
Posts: 33
Location: Nbi
kryptonite wrote:
zizzi wrote:
Ericsson wrote:
Berkshire Hathaway has an office in Kenya to scout for opportunities in the NSE


I doubt it
Market cap of the NSE is Ksh 1.6B as of 05th April 2013. Thats about US$19M.

Berkshire made US$14.8B last year. Assuming 250 trading days in a year, it made a profit of about US60m every day. Assuming a working day is 9 hours,

So the profit Berkshire made in about 2 hours and 45 minutes would allow it to buy the whole of the NSE.

Remember, with the profits Berkshire made in 1 year, it could buy half of Kenya's output in 2011.


Shame on you Shame on you


My apologies.. 1.6T...

Ok so the profit of 1 year could buy the whole of the NSE
zizzi
#18 Posted : Saturday, April 06, 2013 3:31:27 PM
Rank: New-farer

Joined: 3/2/2011
Posts: 33
Location: Nbi
zizzi wrote:
kryptonite wrote:
zizzi wrote:
Ericsson wrote:
Berkshire Hathaway has an office in Kenya to scout for opportunities in the NSE


I doubt it
Market cap of the NSE is Ksh 1.6B as of 05th April 2013. Thats about US$19M.

Berkshire made US$14.8B last year. Assuming 250 trading days in a year, it made a profit of about US60m every day. Assuming a working day is 9 hours,

So the profit Berkshire made in about 2 hours and 45 minutes would allow it to buy the whole of the NSE.

Remember, with the profits Berkshire made in 1 year, it could buy half of Kenya's output in 2011.


Shame on you Shame on you


My apologies.. 1.6T...

Ok so the profit of 1 year could buy the whole of the NSE


Wow so the market cap to GDP of Kenya is quite high! Even compared to a number of countries around the world..
http://data.worldbank.or...icator/CM.MKT.LCAP.GD.ZS
Ericsson
#19 Posted : Saturday, April 06, 2013 5:17:09 PM
Rank: Elder

Joined: 12/4/2009
Posts: 10,811
Location: NAIROBI
The issue is not about Berkshire Hathaway making profits equal to the market cap of NSE but diversification of investment opportunities to generate future profits.
If the market cap to GDP is high it means the country is producing wealthy individuals than the rate of growth of the economy which is that the economy of Kenya is more gava driven than private individuals and companies
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
zizzi
#20 Posted : Sunday, May 05, 2013 12:18:08 AM
Rank: New-farer

Joined: 3/2/2011
Posts: 33
Location: Nbi
Wazuans,

Allow me to share the various summaries of this year's shareholder meeting ...

http://dealbook.nytimes....13-shareholder-meeting/

Twitter Hash Tag - #BRK2013

https://www.youtube.com/...wQ&feature=youtu.be
A brief summary of the company

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