Discover and read the best of Twitter Threads about #Berkshire2023
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1) In this thread, I will comment on Berkshire's Q&A Session which starts at 9:15 am central time which I am watching via CNBC's webcast.
$BRKA $BRKB #Berkshire2023
$BRKA $BRKB #Berkshire2023
2) CNBC's "pre-game" coverage has started and is available at cnbc.com/brklive/
3) The meeting begins with Buffett going over Q1 earnings which were released this morning. My thread on Q1 earnings is here based on a (very) quick review.
1) Berkshire Hathaway's Q1 2023 Press Release and 10-Q have been released. I will post some thoughts on this thread after I spend some time reviewing results.
$BRKA $BRKB #Berkshire2023
$BRKA $BRKB #Berkshire2023
2) The news release is here:
berkshirehathaway.com/news/may0623.p…
And the 10-Q is here:
berkshirehathaway.com/qtrly/1stqtr23…
berkshirehathaway.com/news/may0623.p…
And the 10-Q is here:
berkshirehathaway.com/qtrly/1stqtr23…
3) Berkshire used $4.4 billion to repurchase stock during the first quarter and ended with 1,450,152 $BRKA equivalents outstanding.
The 10-Q indicates that 323 $BRKA equivalents were purchased between 3/31 and 4/25, amounting to $150-160 million of additional repurchases.
The 10-Q indicates that 323 $BRKA equivalents were purchased between 3/31 and 4/25, amounting to $150-160 million of additional repurchases.
1) The avg cost of auto insurance is now >$2K/year. Median earnings of full time workers is $1,100/week. It's a big expense.
GEICO and Progressive have been fierce competitors for decades and are now tied in the #2 position behind State Farm.
$BRKA $BRKB $PGR #Berkshire2023
GEICO and Progressive have been fierce competitors for decades and are now tied in the #2 position behind State Farm.
$BRKA $BRKB $PGR #Berkshire2023
2) Progressive has recently picked up market share and was 2nd in terms of written premiums while GEICO was 2nd in earned premiums in 2022 according to the National Association of Insurance Commissioners.
3) Both Progressive and GEICO have posted excellent long term financial results, with GEICO only posting two years of underwriting losses since 2001 and Progressive never posting an annual loss over 22 years. Impressive to say the least.
Good morning to those in Omaha waiting in line at the Berkshire Hathaway annual meeting. I plan to tweet about the Q&A during the meeting so feel free to follow along.
$BRKA $BRKB #Berkshire2023
$BRKA $BRKB #Berkshire2023
If you're looking for some reading material while in line, check out this list of articles I wrote about Berkshire related topics over the past year:
rationalwalk.substack.com/p/berkshire-ha…
rationalwalk.substack.com/p/berkshire-ha…
I recently posted a book review about Buffett's partnership years that might be of interest:
rationalwalk.substack.com/p/warren-buffe…
rationalwalk.substack.com/p/warren-buffe…
