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Buffett’s Berkshire Plans $9 Billion Bond Sale to Repay Loan [H/T Linc] (LINK)

Strong investor demand allowed the company to tighten yields on the offering. The longest part of the sale was $2.5 billion of 3.125 percent of 10-year bonds offering yielding 1.3 percentage points more than similar-maturity Treasuries, according to Bloomberg data.

Investor orders for Berkshire Hathaway bond sale hit $34bn (LINK)

Investor orders for a piece of a $9bn Berkshire Hathaway bond sale eclipsed $30bn on Tuesday, as the conglomerate headed by Warren Buffett sought to repay bank loans used to finance its $36bn takeover of Precision Castparts.

The deal, spread across seven tranches, underscored the accessibility to the market that high-grade companies have enjoyed over the past several weeks, and stands in sharp contrast to the experience of junk-rated groups which have struggled under heightened volatility and erratic fund flows.

Berkshire Hathaway Energy Valuation Indicators (LINK)

Comments on Mistakes and Buffett’s Original Berkshire Purchase (LINK)

Latticework of Mental Models: Network Effect (LINK)

Gary Channon: the three things I look for when buying a company (LINK)

Bruce Berkowitz on Fannie and Freddie: People are going to call this 'The Big Lie' [H/T Linc] (LINK)

Being punished for doing the obvious: Peabody Energy Corp edition - by John Hempton (LINK)

Tim Harford: The lost leisure time of our lives (LINK)

Three hours a day is quite enough,” wrote John Maynard Keynes in his 1930 essay Economic Possibilities for our Grandchildren. The essay continues to tantalise its readers today, thanks in part to a forecast that is looking magnificently right — that in advanced economies people could be up to eight times better off in 2030 than in 1930 — coupled with a forecast that is looking spectacularly wrong, that we would be working 15-hour weeks.

In 2008, economists Lorenzo Pecchi and Gustavo Piga edited a book in which celebrated economists pondered Keynes’s essay. One contributor, Benjamin Friedman of Harvard University, has recently revisited the question of what Keynes got wrong, and produced a thought-provoking answer.

Bitcoin and Diversity - by Ben Thompson (LINK)

a16z Podcast: Disruption in Business… and Life (with Marc Andreessen and Clayton Christensen) (LINK)

a16z Podcast: Data Network Effects (LINK)

CRISPR: gene editing is just the beginning (LINK)

Yellowstone's Supervolcano Gets a Lid (LINK)

Book of the day: Rise of the Robots: Technology and the Threat of a Jobless Future

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TED Talk - Allan Adams: What the discovery of gravitational waves means (LINK) Latticework of Mental Models: Switching Costs (LINK) Marathon Asset Management – Culture Vulture (LINK) Why stream Berkshire meeting online? To reach 'key financial...

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Chris Bloomstran's interview with Lukas Neely, including his take on a few ideas (Berkshire, Orkla, and Subsea 7) (LINK) Latticework of Mental Models: Inversion (LINK) Warren Buffett on Bloomberg (video) (LINK) Warren Buffett on Fox Business...

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Notes from the Berkshire Hathaway Annual Meeting (Part I, Part II) Philosophical Economics: Profit Margins in a “Winner Take All” Economy (LINK) Zenefits Is Tagged With a $4.5 Billion Valuation After Just Two Years (LINK) [The Co-Founder was...

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How levered was John Maynard Keynes' portfolio? (LINK) What Happened When Marissa Mayer Tried to Be Steve Jobs (LINK) Eddie Lampert: Is something a “failure” if other successes come from it? (LINK) THE EVERYTHING BOOK: READING IN THE...

Money and Finance