January 14, 2008 by Joe Ponzio

There is a school of thought that says that the value of a business is entirely in its future cash flows and that all assets are tools that provide that cash flow. In essence, many people believe that assets and equity should be ignored entirely. Let’s look at it from…

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August 15, 2007 by Joe Ponzio

Every three months, Buffett and Berkshire have to report their holdings to the SEC. Good news for us because we can see them for free. Click here for the report. Let’s see what Buffett is buying, selling, and arbitraging.

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August 13, 2007 by Joe Ponzio

Take one of my old spreadsheets (found elsewhere on this site), plug in BNI’s past performance, and you’ll get a per share value of $60.15. Mike and I both did it, and we were both perplexed. Did Buffett pay upwards of a 30% premium for BNI? Let’s pick it apart.

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August 8, 2007 by Joe Ponzio

Berkshire Hathaway bought another 1.62 million shares of Burlington Northern Santa Fe (BNI) in the past few days, according to a recent filing with the Securities and Exchange Commission. If you recall, Buffett’s company disclosed in April that it had bought 39.03 million shares of BNI, sending the stock some…

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