Message Font: Serif | Sans-Serif
 
UnThreaded | Threaded | Whole Thread (14) | Ignore Thread Prev | Next
Author: mungofitch Big gold star, 5000 posts Top Favorite Fools Top Recommended Fools Feste Award Winner! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 212573  
Subject: Re: Valuation à la Tilson Date: 12/6/2012 12:28 PM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 0
Nevertheless, given that 1) during the earlier periods under consideration,
investments accounted for a much higher proportion of calculated value
than latter periods, 2) during the years surrounding the Great Bubble the
relative price of those investments was far higher than currently, and 3)
that what matters to us ultimately is value, rather than price...
...the growth in value over the past decade is even better than what your method calculates.


This is certainly true.
I don't think a lot of people appreciate that until the Gen Re acquisition,
Berkshire's equity holdings as a percentage of book value was over 100%.
Equities have gone from 126% of book at end 1995 to 48% now.

The figure was around 65-70% in 1999 in one of the most bubbly years.

Jim
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (14) | Ignore Thread Prev | Next

Announcements

Managing Your Wealth
Our own TMFHockeypop from Rule Your Retirement fame on the TV show Managing Your Wealth.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Post of the Day:
Value Hounds

Back to the Future Buffalo Wild Wings
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement