Activist Letter to Berkshire Hathaway’s Board

Luck is always the last refuge of laziness and incompetence. –James Cash Penney

Investors finally Take Action

The activist letter below shows how Berkshire Hathaway’s stock performance can be improved. Buffett has gotta go.  An incisive and brilliant analysis!

http://www.simoleonsense.com/a-letter-to-the-berkshire-hathaway-board/

12 responses to “Activist Letter to Berkshire Hathaway’s Board

  1. Two investment bankers on their way to advising Buffett and Munger on an acquisition in Europe

    http://www.youtube.com/watch?v=UnkefjCES-4

  2. Funny how Baker Street Capital Management focuses on BRK-A’s “short term” stock price movement and I wonder what’s their true motive. As soon as I read about it on the first paragraph I just stop reading the rest.

  3. CARL:

    APRIL FOOLS DAY (a day late)! 🙂

  4. Hey ! you posted on 04/02/12, not fair, lol.

  5. You might enjoy reading the rest of the letter since the author recommends Munger replacing Buffett since Munger has more maturity/experience.

    Hire an investment banking team to get more deals done. But this as a joke because the typical Wall Streeter would recommend those very steps. A Parody.

  6. I did. I wondered if Baker Street wrote that letter as an April fool joke. btw John, didn’t mean to be pushy but have you finished the part 3 for Value-Line case study ?

  7. arthur clarke

    This letter is appallingly ignorant. Alas, it reflects how little much of the investing world cares to understand about being enlightened owners and how that might be germane to the kinds of returns BRK has produced for long-term owners. Its vaguely disguised interest is short-term gain. My advice to all who think this letter says something useful: SELL!

    • Arthur, the letter was meant as a parody :). I am shocked, though, that you should think Wall Street is out for short-term gain.

      • arthur clarke

        John, I do apologize for missing the parody. I read it in about 2 point typeface and obviously imputed into it some of the silliness that unfortunately saiis through the blogosphere. So I am sorry, if I inadverantly added to it.

        I did not say “Wall Street”. I said “investing world” and meant in particular those who think that the payment of a dividend somehow miraculously turns an equity into a safe quasi bond. But maybe your “shock” is still in parody mode, in which case we are in complete agreement.

        Incidentally, as you perhaps know, Markel pointedly does not have an investor relations office because it will only bring in the riff raff that Warren is surely regretting he has acquired. I wish I could find a few more Markels.

        • You could look at Enstar, Leucadia, CSWC.

          John Chew 4 Bolling Place Greenwich, CT 06830 203-613-8337

          • arthur clarke

            John, I’m replying from Salzburg, Austria. Normally it would be Boston.

            I will look at Enstar. I have owned LUK and CSWC for decades. Also Alleghany (Y) and Seaboard (SEB).

          • OK, so you know the typical “value” conglomerates.

            ENSTAR is a business that buys run-off insurance (like Berkshire). If you can buy at or below tangible book on this business that is growing its book 15% to 20% over the past 7 years. Conservative reserving and balance sheet.

            But that is my opinion–I am not suggesting you look at it–just an example of a capital allocator business.

            John Chew 4 Bolling Place Greenwich, CT 06830 203-613-8337

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.