“I love the deal,” Tilson said.
Video and computer transcript below:
you own berkshire so you’re happy with the deal. yes, i’ve talked to guys paying 20 times earnings for a slow growth mature business, does that make sense? i think it does. i love the deal as having berkshire as more than a 10% position in my funds for two reasons. one is buffett is sitting on easily more than $25 billion of excess cash, earning nothing right now. he’s putting a lot of cash to work in high quality business and the second insight that people may not know because they don’t know 3g that well, the investment vehicle of three brazilian billionaires who i think are bar none the world’s best operating business managers out there. whom we rarely hear about. they keep a low profile, they’re not well-known here but the names george palo lemon, marcel talas and cincopera should be names everyone knows. they’ve been active in railroads, banking but their main signature deal has been being anheuser-busch imbev, 20 years ago started out as a third tier brazilian brewer. they’re the world’s best managers and the world’s best cost cutters and there was a lot of fat to cut at anheuser-busch imbev and i suspect there will be at heinz so they and buffett, they’re paying 20 times earnings, today’s earnings, i think five years from now it will look like a much, much better deal than initially it appears today. you’re not at all concerned they’re overpaying? sounds like you’re skeptical of the price. what i’m telling you is from what i’m hearing is for people who don’t know who buffett is teaming up with, it looks like a high price and if you know these guys who buffett is partnering with and understand what they’ve done with similar businesses in the past, i think people were criticizing buffett or overpaying for burlington northern and he’s had the last laugh a few years later. the a shares in berkshire are obviously out of reach for some folks or many folks. sure. do you buy these shares, have you added to your position lately? would you add to it now as a result of all of this? it makes me slightly more bullish on baerk sheer but berk sure is nicely growing 75 cent dollar so it’s not screaming cheap but more than a 10% position in my funds. today’s news makes me liblg it a little bit more than i did