Old School Value Nugget Fest (May 8th Edition) – ValueWalk Premium
Old School Value Nugget Fest

Old School Value Nugget Fest (May 8th Edition)

Now that the Buffett “lovefest” is over, as one reader put it, there’s been a lot of news about what Buffett said.
To give you the short end of the stick, here’s a link to the Google news of all the Buffett related news.

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Q1 hedge fund letters, conference, scoops etc, Also read Lear Capital: Financial Products You Should Avoid?

Old School Value Nugget Fest

In a week or so, notes to the meeting will float around. Keep an eye out for that.

But here are some pointers that Buffett and Munger said over the weekend.

  • Apple is now Berkshire's biggest holding
  • BRK reported a drop of $6.1B in investment income for Q1. First "loss" since 2009.
  • Elon doesn't have a chance against them in the candy business. Elon is starting a candy company.
  • BRK is still sticking with WFC because it's a good investment.
  • Hates crypto. Crypto = rat poison^2

What We're Reading in the Media

The definitive collection - Buffett in his own words

Wow - CNBC has put together a virtual shrine of Buffett. Videos, interviews, 25 years of annual meetings, transcripts and more.

I hope this resource continues to get bigger while Buffett is around.

Stellar Earnings Not Enough to Take Stocks Higher

A detailed take on how the market is being fickle with stellar earnings. The CFO on CAT conference call mentioned the Q1 results were likely “high-water mark for the year”. Despite big earnings boost, the stock was down 6%. Markets are forward looking, at it may be that it's finally lost its steam. The current market gains were in anticipation of the earnings growth we are experiencing now.

"Peaks in earnings growth are usually accompanied by stock market turbulence."

Europe is showing signs of slowdown and China's growth (which I always call "adjusted" were in the 6-7% range).

Lots to learn from this letter.

Other Reads

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