Sunday, December 01, 2019 12:09:08 PM
"To begin with, float is money we hold but don't own. In an insurance operation, float arises because premiums are received before losses are paid, an interval that sometimes extends over many years. During that time, the insurer invests the money. This pleasant activity typically carries with it a downside: The premiums that an insurer takes in usually do not cover the losses and expenses it eventually must pay. That leaves it running an "underwriting loss," which is the cost of float. An insurance business has value if its cost of float over time is less than the cost the company would otherwise incur to obtain funds. But the business is a lemon if its cost of float is higher than market rates for money"
"Historically, Berkshire has obtained its float at a very low cost. Indeed, our cost has been less than zero in about half of the years in which we've operated; that is, we've actually been paid for holding other people's money."
BRK 2001 annual report:
http://www.berkshirehathaway.com/2001ar/2001ar.pdf
Recent BRK.A News
- Perficient Stock Soars 52.9% Post-Acquisition; Luminar Declines 10% Amid Workforce Cutbacks, and Other News • IH Market News • 05/06/2024 12:09:00 PM
- Philips Stocks Soar 47% Following US Deal, Tesla Bolsters Presence in China, and More News • IH Market News • 04/29/2024 11:11:24 AM
- Paramount’s Shares Surge Following Sony and Apollo’s Joint Bid; ISS Backs Berkshire Hathaway Director Re-election, and More • IH Market News • 04/19/2024 11:31:22 AM
- Unilever Initiates Ice Cream Division Spin-Off and Announces Job Cuts; Berkshire Ramps Up Share Buyback Efforts, and More • IH Market News • 03/19/2024 11:33:10 AM
- Tesla Exits Market Top 10, Victoria’s Secret Stock Tumbles 30% on Weak Forecast • IH Market News • 03/07/2024 10:43:17 AM
- U.S. Stocks May Lack Direction Following Yesterday’s Modest Pullback • IH Market News • 02/27/2024 02:14:46 PM
- Cisco Systems Stock Drops 5% Following Restructuring Plan, Berkshire Trims Apple Stake, and Latest News • IH Market News • 02/15/2024 11:34:25 AM
- NetJets' sterling safety record at risk as Fractional threatens litigation against its Pilot Union • PR Newswire (US) • 01/26/2024 01:00:00 PM
- NetJets threatens litigation over alleged slowdown • PR Newswire (US) • 01/19/2024 10:15:00 PM
- Wall Street Highlights: Tesla Cuts Prices in Germany, Interactive Brokers Increases Revenue by 17%, and More • IH Market News • 01/17/2024 11:33:30 AM
- Wall Street Highlights: Apple Cuts iPhone Prices in China, Microsoft Launches Copilot Pro Subscription, and More • IH Market News • 01/16/2024 11:15:52 AM
- Wall Street Highlights: Mastercard’s Financial Rise, Citigroup’s $3.8 Billion Charges, and More • IH Market News • 01/11/2024 11:18:22 AM
- Wall Street Highlights: Amazon to Introduce Ads on Prime Video, JD.com Raises Salaries in 2024, and More • IH Market News • 12/28/2023 12:27:06 PM
- Batteries Plus & Duracell Ignite Children's Holiday Spirit With Annual Toys For Tots Partnership • PR Newswire (US) • 12/05/2023 03:07:00 PM
- Tuesday’s Wall Street Highlights: Teck Resources, Starbucks, Nvidia, Fisker, Home Depot, and more • IH Market News • 11/14/2023 11:35:03 AM
- Monday’s Wall Street Highlights: Boeing, Novo Nordisk, Moody’s, StoneCo, and more • IH Market News • 11/13/2023 11:45:20 AM
- BRK.B Stock: How Did Berkshire Hathaway Perform in Q3 of 2023? • Finscreener.org • 11/06/2023 10:15:00 AM
- NJASAP TO HOST WALL STREET INFORMATIONAL PICKET ON THURSDAY, SEPT. 14 • PR Newswire (US) • 09/13/2023 02:15:00 PM
- From Status Carrier to Steppingstone: NetJets Continues Freefall • PR Newswire (US) • 09/11/2023 02:00:00 PM
- Wednesday’s Wall Street Highlights: Ambarella, Alphabet, Toyota, HP Inc, Vinfast, and more • IH Market News • 08/30/2023 11:16:41 AM
- NJASAP to host informational picket on Sunday, Aug. 27 coinciding with the FedEx Tour Championship in Atlanta • PR Newswire (US) • 08/25/2023 01:30:00 PM
- Friday’s Wall Street Highlights: Applied Materials, Farfetch, Bloomin’ Brands, and More • IH Market News • 08/18/2023 11:32:37 AM
- Tuesday’s Wall Street Highlights: Delcath Systems, Getty Images, Home Depot, Berkshire Hathaway, and more • IH Market News • 08/15/2023 11:14:09 AM
- Monday’s Wall Street Highlights: Berkshire Hathaway, Tesla, BP, Yellow, UBS and more • IH Market News • 08/07/2023 11:26:29 AM
- Luxury Jewelry Brand, Aurate, Partners With Helzberg Diamonds To Launch Exclusive Collection • PR Newswire (US) • 08/04/2023 01:02:00 PM
Avant Technologies Equipping AI-Managed Data Center with High Performance Computing Systems • AVAI • May 10, 2024 8:00 AM
VAYK Discloses Strategic Conversation on Potential Acquisition of $4 Million Home Service Business • VAYK • May 9, 2024 9:00 AM
Bantec's Howco Awarded $4.19 Million Dollar U.S. Department of Defense Contract • BANT • May 8, 2024 10:00 AM
Element79 Gold Corp Successfully Closes Maverick Springs Option Agreement • ELEM • May 8, 2024 9:05 AM
Kona Gold Beverages, Inc. Achieves April Revenues Exceeding $586,000 • KGKG • May 8, 2024 8:30 AM
Epazz plans to spin off Galaxy Batteries Inc. • EPAZ • May 8, 2024 7:05 AM