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4.7 • 1.7K Ratings

🗓️ 17 August 2020

⏱️ 15 minutes

🔗️ Recording | iTunes | RSS

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Summary

That’s how Bill Mann describes Berkshire-Hathaway’s surprising investment in Barrick Gold. Bill also analyzes JD.com’s strong 2^nd-quarter report and Citigroup’s “clerical error” for the ages.

Transcript

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0:00.0	It's Monday, August 17th.
0:04.0	Welcome to Mark Flory.
0:06.0	I'm Chris Hill with me today.
0:08.0	Back from the Big Easy. It's Bill Mann.
0:10.0	Good to see you.
0:11.0	How are you, Chris?
0:12.0	I'm doing well. I'm caffeinated and I'm ready. Good to see you. How are you, Chris?
0:12.8	I'm doing well.
0:13.7	I'm caffeinated and I'm ready to tackle this week.
0:17.1	We have a surprising buy from Berkshire Hathaway.
0:21.1	We've got a clerical error for the ages, but we're going to start with
0:25.7	JD.com. Second quarter profits and revenue came in higher than expected for China's largest
0:31.4	online retailer and active customer accounts for JD.com up 30% year
0:38.0	over year. That is that is impressive.
0:42.4	What's more impressive is when you think 30% year over year increase,
0:48.0	if you're talking about something that starts at a thousand and ends up at 1,300, that's impressive
0:55.0	impressive but when you go to 417 million active
1:00.0	million active customers.
1:02.7	I mean, in some ways China, the numbers in China almost feel like cheat codes,
1:08.4	right?
1:09.4	Like the numbers just don't even feel real.
1:12.0	It's like someone typed in an extra comma or another zero or whatever.
	...

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