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Title : Did Apple Just Save Warren Buffett's Broad Posterior? -- August 4, 2018
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Did Apple Just Save Warren Buffett's Broad Posterior? -- August 4, 2018

I don't have time to complete this post but I want bragging rights, so I will post this now for the date-time stamp -- and get back to it later. 

From SeekingAlpha:

• Berkshire Hathaway Q2 revenue of $62.2B exceeds consensus by $261M. Q2 revenue rose 8.6% from Q2 2017
• at June 30, 2018, book value per class A equivalent share was $217,677, exceeding consensus of $215,29
• operating earnings jumped 67% to $6.89B from $4.12B Y/Y; by segment:
• • insurance-underwriting: $943M vs loss of $22M
  • insurance-investment income $1.14B vs $965M.
  • railroad, utilities, and energy $1.89B vs. $1.47B
  • other businesses: $2.57B vs. $1.99B
  • other: $348M vs loss of $276M
• Q2 net earnings of $12.0B, or $4.87 per class B equivalent share, up from $4.26B, or $1.73, a year earlier
• Q2 EPS for class A equivalent shares of $7,301 vs. $2,592 Y/Y
• Q2 2018 includes a gain of about $4.5B for unrealized gains losses of equity security investments in Q2; as of 2018, GAAP requires including changes in unrealized gains/losses of equity security investments
• insurance float (net liabilities assumed under insurance contracts) was about $116B at June 20, 2018, up $2b since year-end 2017

From MarketWatch:

Count Warren Buffett as one of the Apple Inc. investors cheering Wednesday as the tech giant’s shares jumped almost 6% a day after posting a positive earnings report and outlook. 

That’s because the billionaire chairman of Berkshire Hathaway Inc. BRK.B,  likely made more than $2.6 billion in a single day as Apple shares spiked. 

As of the end of March, Berkshire Hathaway held 239.6 million Apple shares AAPL. Assuming it hasn’t sold any — Berkshire has been loading up on Apple, buying 75 million shares in the first quarter alone — that’s a profit of about $8 billion in four months, and a $48 billion overall stake in Apple.

In May, Buffett — who’s worth about $84 billion himself — told CNBC that he’s a big fan of the Cupertino, Calif., tech giant.

Quick: what important data point was missing in the MarketWatch story above. Hint: it almost equals what Berkshire pulls in from its insurance-underwriting.

https://ift.tt/2dZyQXu

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