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Stocks B / Berkshire Hathaway


Subject:  Re: Maystery purchase Date:  11/5/2018  7:12 AM
Author:  Maxthetrade Number:  239451 of 243205

As it happens, my huge mistake makes less difference than you might expect because Q4 last year wasn't very exciting.
Redone with trailing four quarters figures = (Q1-Q3 2018) + [(FY 2017) - (Q1-Q3 2017)].

Not to nitpick but there were some truly non recurring items in Q4 2017 like the 2.9bn loss from the Tax Act. I think the numbers for the full year 2018 will be much more representative of what we can expect in the future. I doubt that Buffett bought this as a cash proxy. You may also have noticed that Munger holds quite a bit of BAC at DJCO where there is really no need for a cash proxy. If you look through the investor presentations you can see steady improvement over the last few years. You may be pleasantly surprised, this isn't the old Ken Lewis BAC.
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