DETTA INLÄGG ÄR ETT UTDRAG UR KVARTALSBREVET JAG SKICKADE TILL PANDIUMS ANDELSÄGARE 30 OKTOBER 2015.
In my previous letter I wrote about how much I liked our new investment, Precision Castparts (PCP). It seems that I was not the only one enamoured by the company and the price because ten days later Berkshire Hathaway (the holding company run by Warren Buffett) offered to buy the whole company for a price approximately 10% above what we paid. It is Berkshire’s largest investment ever.
It might seem like good news I must say that I am not entirely happy. A 10% return over a couple of weeks is of course not bad, but I think that the returns would have been much higher if we would have owned PCP for another couple of years. Luckily, we can find some comfort in the fact that we will continue to own PCP through our investment in Berkshire.