Fed Shot Its Own ‘Elephant Gun’ Before Buffett Got the Chance

In this article

Subscribe to What Goes Up on Apple Podcasts
Subscribe to What Goes Up on Pocket Casts
Subscribe to What Goes Up on Spotify

34||h<10)||window.opera||t.addEventListener("progress",function(t){e.lastSize=t.loaded},!1)}),u.on("open-xhr-start",function(t){this.params={method:t[0]},o(this,t[1]),this.metrics={}}),u.on("open-xhr-end",function(t,e){"loader_config"in NREUM&&"xpid"in NREUM.loader_config&&this.sameOrigin&&e.setRequestHeader("X-NewRelic-ID",NREUM.loader_config.xpid);var n=f(this.parsedOrigin);if(n){var r=!1;n.newrelicHeader&&(e.setRequestHeader("newrelic",n.newrelicHeader),r=!0),n.traceContextParentHeader&&(e.setRequestHeader("traceparent",n.traceContextParentHeader),n.traceContextStateHeader&&e.setRequestHeader("tracestate",n.traceContextStateHeader),r=!0),r&&(this.dt=n)}}),u.on("send-xhr-start",function(t,e){var n=this.metrics,r=t[0],o=this;if(n&&r){var i=m(r);i&&(n.txSize=i)}this.startTime=a.now(),this.listener=function(t){try{"abort"!==t.type||o.loadCaptureCalled||(o.params.aborted=!0),("load"!==t.type||o.called===o.totalCbs&&(o.onloadCalled||"function"!=typeof e.onload))&&o.end(e)}catch(n){try{u.emit("internal-error",[n])}catch(r){}}};for(var c=0;c

1?t[1]=i:t.push(i)}else t[0]&&t[0].headers&&e(t[0].headers,o)&&(this.dt=o)})}},{}],17:[function(t,e,n){var r={};e.exports=function(t){if(t in r)return r[t];var e=document.createElement(“a”),n=window.location,o={};e.href=t,o.port=e.port;var i=e.href.split(“://”);!o.port&&i[1]&&(o.port=i[1].split(“/”)[0].split(“@”).pop().split(“:”)[1]),o.port&&”0″!==o.port||(o.port=”https”===i[0]?”443″:”80″),o.hostname=e.hostname||n.hostname,o.pathname=e.pathname,o.protocol=i[0],”/”!==o.pathname.charAt(0)&&(o.pathname=”/”+o.pathname);var a=!e.protocol||”:”===e.protocol||e.protocol===n.protocol,c=e.hostname===document.domain&&e.port===n.port;return o.sameOrigin=a&&(!e.hostname||c),”/”===o.pathname&&(r[t]=o),o}},{}],18:[function(t,e,n){function r(t,e){var n=t.responseType;return”json”===n&&null!==e?e:”arraybuffer”===n||”blob”===n||”json”===n?o(t.response):”text”===n||””===n||void 0===n?o(t.responseText):void 0}var o=t(20);e.exports=r},{}],19:[function(t,e,n){function r(){}function o(t,e,n){return function(){return i(t,[f.now()].concat(c(arguments)),e?null:this,n),e?void 0:this}}var i=t(“handle”),a=t(26),c=t(27),s=t(“ee”).get(“tracer”),f=t(“loader”),u=NREUM;”undefined”==typeof window.newrelic&&(newrelic=u);var d=[“setPageViewName”,”setCustomAttribute”,”setErrorHandler”,”finished”,”addToTrace”,”inlineHit”,”addRelease”],p=”api-“,l=p+”ixn-“;a(d,function(t,e){u[e]=o(p+e,!0,”api”)}),u.addPageAction=o(p+”addPageAction”,!0),u.setCurrentRouteName=o(p+”routeName”,!0),e.exports=newrelic,u.interaction=function(){return(new r).get()};var h=r.prototype={createTracer:function(t,e){var n={},r=this,o=”function”==typeof e;return i(l+”tracer”,[f.now(),t,n],r),function(){if(s.emit((o?””:”no-“)+”fn-start”,[f.now(),r,o],n),o)try{return e.apply(this,arguments)}catch(t){throw s.emit(“fn-err”,[arguments,this,t],n),t}finally{s.emit(“fn-end”,[f.now()],n)}}}};a(“actionText,setName,setAttribute,save,ignore,onEnd,getContext,end,get”.split(“,”),function(t,e){h[e]=o(l+e)}),newrelic.noticeError=function(t,e){“string”==typeof t&&(t=new Error(t)),i(“err”,[t,f.now(),!1,e])}},{}],20:[function(t,e,n){e.exports=function(t){if(“string”==typeof t&&t.length)return t.length;if(“object”==typeof t){if(“undefined”!=typeof ArrayBuffer&&t instanceof ArrayBuffer&&t.byteLength)return t.byteLength;if(“undefined”!=typeof Blob&&t instanceof Blob&&t.size)return t.size;if(!(“undefined”!=typeof FormData&&t instanceof FormData))try{return JSON.stringify(t).length}catch(e){return}}}},{}],21:[function(t,e,n){var r=0,o=navigator.userAgent.match(/Firefox[\/\s](\d+\.\d+)/);o&&(r=+o[1]),e.exports=r},{}],22:[function(t,e,n){function r(t,e){var n=t.getEntries();n.forEach(function(t){“first-paint”===t.name?d(“timing”,[“fp”,Math.floor(t.startTime)]):”first-contentful-paint”===t.name&&d(“timing”,[“fcp”,Math.floor(t.startTime)])})}function o(t,e){var n=t.getEntries();n.length>0&&d(“lcp”,[n[n.length-1]])}function i(t){t.getEntries().forEach(function(t){t.hadRecentInput||d(“cls”,[t])})}function a(t){if(t instanceof h&&!v){var e=Math.round(t.timeStamp),n={type:t.type};e<=p.now()?n.fid=p.now()-e:e>p.offset&&e<=Date.now()?(e-=p.offset,n.fid=p.now()-e):e=p.now(),v=!0,d("timing",["fi",e,n])}}function c(t){d("pageHide",[p.now(),t])}if(!("init"in NREUM&&"page_view_timing"in NREUM.init&&"enabled"in NREUM.init.page_view_timing&&NREUM.init.page_view_timing.enabled===!1)){var s,f,u,d=t("handle"),p=t("loader"),l=t(25),h=NREUM.o.EV;if("PerformanceObserver"in window&&"function"==typeof window.PerformanceObserver){s=new PerformanceObserver(r);try{s.observe({entryTypes:["paint"]})}catch(m){}f=new PerformanceObserver(o);try{f.observe({entryTypes:["largest-contentful-paint"]})}catch(m){}u=new PerformanceObserver(i);try{u.observe({type:"layout-shift",buffered:!0})}catch(m){}}if("addEventListener"in document){var v=!1,w=["click","keydown","mousedown","pointerdown","touchstart"];w.forEach(function(t){document.addEventListener(t,a,!1)})}l(c)}},{}],23:[function(t,e,n){function r(){function t(){return e?15&e[n++]:16*Math.random()|0}var e=null,n=0,r=window.crypto||window.msCrypto;r&&r.getRandomValues&&(e=r.getRandomValues(new Uint8Array(31)));for(var o,i="xxxxxxxx-xxxx-4xxx-yxxx-xxxxxxxxxxxx",a="",c=0;cMegaphone Player

  • What Goes UpBuffett’s ‘Elephant Gun’00:40:03

    ShareSubscribeCookie PolicySubscribe to What Goes UpKeep up to date by subscribing to this podcastShare Buffett’s ‘Elephant Gun’Share this episode with your friendsCookie PolicyThis player is hosted by Megaphone, a podcast publishing platform. By using Megaphone’s player you are consenting to our use of cookies, which we use to improve user experience. Please refer to our privacy policy to learn more.





    Warren Buffett has referred to the massive cash pile at his company Berkshire Hathaway Inc. as his “elephant gun,” meaning he’s always on the prowl for an opportunity to shoot large sums of money at a big acquisition or investment. While he made a few deals this year as the Covid-19 pandemic roiled markets, he hasn’t been quite as active as he was during the global financial crisis more than a decade ago.

    Why is that? Joining this week’s “What Goes Up” podcast to discuss why is Larry Pitkowsky, co-managing partner at GoodHaven Capital Management. His GoodHaven Fund counts Berkshire Hathaway as its top holding. Pitkowsky also discusses other holdings in the fund and shares some thoughts on markets and value investing. 

    Mentioned in this podcast:
    Amazon Tells Echelon Fitness to Stop Selling $500 Prime Bike
    Can’t-Lose Trades Falter With Inflation Expectations Flagging

     

    Source: Read Full Article