This Baby Berkshire Just Hit an All-Time High -- Here's Why It's Still Undervalued

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This Baby Berkshire Just Hit an All-Time High -- Here's Why It's Still Undervalued

Motley Fool2021-09-03

Buying into a well-run conglomerate can be incredibly rewarding. Not only can investors possibly beat the market (or at least put up quality returns) over the long haul, but they can do so with ...

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dandan_4896
·2021-09-06
Piak piak
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2
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- MarketPulse:
  [LOL][LOL][LOL]
  2021-09-06
  Reply
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MoonMoon
·2021-09-05
Like
Reply
1
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- dandan_4896:
  g
  2021-09-06
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- Greysuntan:
  Yes
  2021-09-05
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Tanyl
·2021-09-04
Will buy NINI & BTC in Option way
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4
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- FlareSpark:
  [Strong]
  2021-09-06
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- Ku9787:
  cool
  2021-09-05
  Reply
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- MinQuan:
  ?
  2021-09-05
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Stchua
·2021-09-04
[Smile]
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5
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SSVC
·2021-09-04
Ya Appreciate your response and comments Thanks
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- SSVC:
  [Strong][ShakeHands]
  2021-09-05
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- Qarah:
  Like and comment back thanks
  2021-09-05
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- SSVC:
  [Strong][ShakeHands][Strong][ShakeHands]
  2021-09-05
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KYHBKO
·2021-09-04
let us do our due diligence before we invest.
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4
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Andrina22
·2021-09-03
Interesting
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2
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Jedifruit
·2021-09-03
Wow never heard of this
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3
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lekwhee
·2021-09-03
Ok
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3
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richcat
·2021-09-03
Gogogo
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- leoworm:
  Good
  2021-09-03
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- Abcdefgg:
  After he is gone?
  2021-09-03
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被幸福敲了门的人
·2021-09-03
哈哈哈
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7
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diamondHands
·2021-09-03
Like please
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6
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- WaiT:
  Ok
  2021-09-03
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- richcat:
  Like and comment
  2021-09-03
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- AntonyGeorge:
  good
  2021-09-03
  Reply
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AliPharma
·2021-09-03
buffet
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- diamondHands:
  yes
  2021-09-03
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StarryEyes
·2021-09-03
Pls like. Ty
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- Melvinchew:
  .
  2021-09-03
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小小爆米花
·2021-09-03
Nice
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3
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Not only can investors possibly beat the market (or at least put up quality returns) over the long haul, but they can do so with ...</p>\n\n<a href=\"https://www.fool.com/investing/2021/09/03/baby-berkshire-nelnet-just-hit-an-all-time-high/\">Source Link</a>\n\n</div>\n","source":"fool_stock","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>This Baby Berkshire Just Hit an All-Time High -- Here's Why It's Still Undervalued</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThis Baby Berkshire Just Hit an All-Time High -- Here's Why It's Still Undervalued\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-03 21:12 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/09/03/baby-berkshire-nelnet-just-hit-an-all-time-high/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Buying into a well-run conglomerate can be incredibly rewarding. Not only can investors possibly beat the market (or at least put up quality returns) over the long haul, but they can do so with ...</p>\n\n<a href=\"https://www.fool.com/investing/2021/09/03/baby-berkshire-nelnet-just-hit-an-all-time-high/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BRK.B","symbol_name":"伯克希尔B","start_time":0,"source_url":"https://www.fool.com/investing/2021/09/03/baby-berkshire-nelnet-just-hit-an-all-time-high/","article_id":"2164874003","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2164874003","pubTimestamp":1630674720,"sourceInfo":{"source_id":"fool_stock","name":"Motley Fool"},"weMediaInfo":null,"summary":"It's not too late to get in on this conglomerate.","collect":0,"end_time":0,"defaultTopTitle":"fool.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BRK.B":"伯克希尔B","BRK.A":"伯克希尔"},"translate_title":"伯克希尔刚刚创下历史新高--这就是为什么它仍然被低估","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BRK.A":0.9,"BRK.B":0.9},"content_text":"Buying into a well-run conglomerate can be incredibly rewarding. Not only can investors possibly beat the market (or at least put up quality returns) over the long haul, but they can do so with minimal effort, increasing the return on time spent. Berkshire Hathaway is the most famous modern conglomerate, run by one of the most well-known investors ever: Warren Buffett.\nOne smaller company with similar characteristics to Berkshire Hathaway is Nelnet (NYSE:NNI), a conglomerate focused on financial services based in Lincoln, Nebraska. The stock is currently trading around its all-time highs above $81 per share, but it's still cheap relative to the value of all its assets, providing a great buying opportunity for long-term investors.\nSlowly melting loan book\nNelnet's legacy business is a book of around $20 billion in student loans. It was barred in 2010 from originating new loans when the federal government took the business in-house, but it still has an existing portfolio that will generate cash over the next decade. And the best part about this loan portfolio? Nelnet doesn't take on any material default risk, since all loans are backed by the U.S. government.\nAt the end of the second quarter, Nelnet estimated that through 2025, including the last two quarters of this year, this loan book will generate $1.39 billion in cash for the company. After 2025, it will become a much smaller part of the company, but it is still estimated to add another $830 million in cash over the life of the portfolio. Nelnet is using this cash stream to reinvest into its other businesses and return cash to shareholders through dividends (the stock currently yields a little over 1%) and share repurchases.\nEducation software and payments\nNelnet's second-largest business is Nelnet Business Services. This segment does tuition payment processing and software for administrative departments at K-12 schools and colleges and is growing at a steady clip. In 2020, NBS produced $66 million in operating income, and that was in a down year with COVID-19-related school closures and postponements. In the first half of this year, NBS had $48 million in operating income, giving the segment a 39% operating margin. Compare that to 2016, when NBS did $34 million in operating income for the full year. This segment is growing steadily for Nelnet and is likely on pace to blow by $100 million in annual operating profits within the next few years.\nOther investments\nNelnet has a lot of smaller businesses and investments that round out the company. One is its loan servicing business, which did $15 million in operating income last quarter. This business requires winning contracts from the federal government, and there is a risk Nelnet won't win future contracts and this entire segment will go away. But with two competitors calling it quits this year, and only Navient remaining as a scaled student loan servicer, it is unlikely that Nelnet will lose this business.\nIn 2020, Nelnet sold 48% of its stake in ALLO Communications, a broadband/fiber business, to SDC Capital Partners. Nelnet owns 45% of the business after the transaction, which is valued at $180 million. Under its venture arm, Nelnet owns 20% of sports highlights and film software company Hudl, which is sitting on its balance sheet at $78 million but would likely be worth many times that if Hudl started trading publicly today. Lastly, since 2013, Nelnet has invested $725 million into solar projects, real estate, and venture investments. All these projects are held at cost on Nelnet's balance sheet.\nValuation\nSo what's Nelnet worth to the market today? The measly sum of $3.1 billion. That's right, this group of high-quality businesses and a loan book that is guaranteed to spit out $1.39 billion in cash over the next five years can be bought for a market cap of $3.1 billion. Since Nelnet is anti-promotional (it doesn't do conference calls and rarely highlights its Hudl investment), it may take years for investors to realize the true value of this business, which will require patience.\nNelnet looks fantastically undervalued at the moment and is poised to provide market-beating returns for any investor planning to hold for a decade or longer.","kind":null,"is_publish_news":true,"is_publish_highlight":true,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":814487813,"gmtCreate":1630867350832,"gmtModify":1676530407521,"author":{"id":"3576232257279797","authorId":"3576232257279797","name":"dandan_4896","avatar":"https://static.tigerbbs.com/d8b00e27a4dd6f248e38c3d78f21f188","vip":1,"crmLevel":2,"crmLevelSwitch":1},"htmlText":"Piak piak","listText":"Piak piak","text":"Piak piak","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/814487813","repostId":2164874003,"repostType":4,"repost":{"id":"2164874003","pubTimestamp":1630674720,"share":"https://www.laohu8.com/m/news/2164874003?lang=&edition=full","pubTime":"2021-09-03 21:12","market":"us","language":"en","title":"This Baby Berkshire Just Hit an All-Time High -- Here's Why It's Still Undervalued","url":"https://stock-news.laohu8.com/highlight/detail?id=2164874003","media":"Motley Fool","summary":"It's not too late to get in on this conglomerate.","content":"<p>Buying into a well-run conglomerate can be incredibly rewarding. Not only can investors possibly beat the market (or at least put up quality returns) over the long haul, but they can do so with minimal effort, increasing the return on time spent. <b>Berkshire Hathaway</b>&nbsp;is the most famous modern conglomerate, run by <a href=\"https://laohu8.com/S/AONE.U\">one</a> of the most well-known investors ever: Warren Buffett.</p>\n<p>One smaller company with similar characteristics to Berkshire Hathaway is <b>Nelnet</b> (NYSE:NNI), a conglomerate focused on financial services based in Lincoln, Nebraska. The stock is currently trading around its all-time highs above $81 per share, but it's still cheap relative to the value of all its assets, providing a great buying opportunity for long-term investors.</p>\n<h2>Slowly melting loan book</h2>\n<p>Nelnet's legacy business is a book of around $20 billion in student loans. It was barred in 2010 from originating new loans when the federal government took the business in-house, but it still has an existing portfolio that will generate cash over the next decade. And the best part about this loan portfolio? Nelnet doesn't take on any material default risk, since all loans are backed by the U.S. government.</p>\n<p>At the end of the second quarter, Nelnet estimated that through 2025, including the last two quarters of this year, this loan book will generate $1.39 billion in cash for the company. After 2025, it will become a much smaller part of the company, but it is still estimated to add another $830 million in cash over the life of the portfolio. Nelnet is using this cash stream to reinvest into its other businesses and return cash to shareholders through dividends (the stock currently yields a little over 1%) and share repurchases.</p>\n<h2>Education software and payments</h2>\n<p>Nelnet's second-largest business is Nelnet Business Services. This segment does tuition payment processing and software for administrative departments at K-12 schools and colleges and is growing at a steady clip. In 2020, NBS produced $66 million in operating income, and that was in a down year with COVID-19-related school closures and postponements. In the first half of this year, NBS had $48 million in operating income, giving the segment a 39% operating margin. Compare that to 2016, when NBS did $34 million in operating income for the full year. This segment is growing steadily for Nelnet and is likely on pace to blow by $100 million in annual operating profits within the next few years.</p>\n<h2>Other investments</h2>\n<p>Nelnet has a lot of smaller businesses and investments that round out the company. One is its loan servicing business, which did $15 million in operating income last quarter. This business requires winning contracts from the federal government, and there is a risk Nelnet won't win future contracts and this entire segment will go away. But with two competitors calling it quits this year, and only <b>Navient</b>&nbsp;remaining as a scaled student loan servicer, it is unlikely that Nelnet will lose this business.</p>\n<p>In 2020, Nelnet sold 48% of its stake in ALLO Communications, a broadband/fiber business, to SDC Capital Partners. Nelnet owns 45% of the business after the transaction, which is valued at $180 million. Under its venture arm, Nelnet owns 20% of sports highlights and film software company Hudl, which is sitting on its balance sheet at $78 million but would likely be worth many times that if Hudl started trading publicly today. Lastly, since 2013, Nelnet has invested $725 million into solar projects, real estate, and venture investments. All these projects are held at cost on Nelnet's balance sheet.</p>\n<h2>Valuation</h2>\n<p>So what's Nelnet worth to the market today? The measly sum of $3.1 billion. That's right, this group of high-quality businesses and a loan book that is <i>guaranteed</i> to spit out $1.39 billion in cash over the next five years can be bought for a market cap of $3.1 billion. Since Nelnet is anti-promotional (it doesn't do conference calls and rarely highlights its Hudl investment), it may take years for investors to realize the true value of this business, which will require patience.</p>\n<p>Nelnet looks fantastically undervalued at the moment and is poised to provide market-beating returns for any investor planning to hold for a decade or longer.</p>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>This Baby Berkshire Just Hit an All-Time High -- Here's Why It's Still Undervalued</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThis Baby Berkshire Just Hit an All-Time High -- Here's Why It's Still Undervalued\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-03 21:12 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/09/03/baby-berkshire-nelnet-just-hit-an-all-time-high/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Buying into a well-run conglomerate can be incredibly rewarding. Not only can investors possibly beat the market (or at least put up quality returns) over the long haul, but they can do so with ...</p>\n\n<a href=\"https://www.fool.com/investing/2021/09/03/baby-berkshire-nelnet-just-hit-an-all-time-high/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BRK.A":"伯克希尔","BRK.B":"伯克希尔B"},"source_url":"https://www.fool.com/investing/2021/09/03/baby-berkshire-nelnet-just-hit-an-all-time-high/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2164874003","content_text":"Buying into a well-run conglomerate can be incredibly rewarding. Not only can investors possibly beat the market (or at least put up quality returns) over the long haul, but they can do so with minimal effort, increasing the return on time spent. Berkshire Hathaway is the most famous modern conglomerate, run by one of the most well-known investors ever: Warren Buffett.\nOne smaller company with similar characteristics to Berkshire Hathaway is Nelnet (NYSE:NNI), a conglomerate focused on financial services based in Lincoln, Nebraska. The stock is currently trading around its all-time highs above $81 per share, but it's still cheap relative to the value of all its assets, providing a great buying opportunity for long-term investors.\nSlowly melting loan book\nNelnet's legacy business is a book of around $20 billion in student loans. It was barred in 2010 from originating new loans when the federal government took the business in-house, but it still has an existing portfolio that will generate cash over the next decade. And the best part about this loan portfolio? Nelnet doesn't take on any material default risk, since all loans are backed by the U.S. government.\nAt the end of the second quarter, Nelnet estimated that through 2025, including the last two quarters of this year, this loan book will generate $1.39 billion in cash for the company. After 2025, it will become a much smaller part of the company, but it is still estimated to add another $830 million in cash over the life of the portfolio. Nelnet is using this cash stream to reinvest into its other businesses and return cash to shareholders through dividends (the stock currently yields a little over 1%) and share repurchases.\nEducation software and payments\nNelnet's second-largest business is Nelnet Business Services. This segment does tuition payment processing and software for administrative departments at K-12 schools and colleges and is growing at a steady clip. In 2020, NBS produced $66 million in operating income, and that was in a down year with COVID-19-related school closures and postponements. In the first half of this year, NBS had $48 million in operating income, giving the segment a 39% operating margin. Compare that to 2016, when NBS did $34 million in operating income for the full year. This segment is growing steadily for Nelnet and is likely on pace to blow by $100 million in annual operating profits within the next few years.\nOther investments\nNelnet has a lot of smaller businesses and investments that round out the company. One is its loan servicing business, which did $15 million in operating income last quarter. This business requires winning contracts from the federal government, and there is a risk Nelnet won't win future contracts and this entire segment will go away. But with two competitors calling it quits this year, and only Navient remaining as a scaled student loan servicer, it is unlikely that Nelnet will lose this business.\nIn 2020, Nelnet sold 48% of its stake in ALLO Communications, a broadband/fiber business, to SDC Capital Partners. Nelnet owns 45% of the business after the transaction, which is valued at $180 million. Under its venture arm, Nelnet owns 20% of sports highlights and film software company Hudl, which is sitting on its balance sheet at $78 million but would likely be worth many times that if Hudl started trading publicly today. Lastly, since 2013, Nelnet has invested $725 million into solar projects, real estate, and venture investments. All these projects are held at cost on Nelnet's balance sheet.\nValuation\nSo what's Nelnet worth to the market today? The measly sum of $3.1 billion. That's right, this group of high-quality businesses and a loan book that is guaranteed to spit out $1.39 billion in cash over the next five years can be bought for a market cap of $3.1 billion. Since Nelnet is anti-promotional (it doesn't do conference calls and rarely highlights its Hudl investment), it may take years for investors to realize the true value of this business, which will require patience.\nNelnet looks fantastically undervalued at the moment and is poised to provide market-beating returns for any investor planning to hold for a decade or longer.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5763544,"gmtCreate":1630882201349,"gmtModify":1663233436447,"authorId":3577347851898435,"author":{"id":3577347851898435,"authorId":3577347851898435,"name":"MarketPulse","avatar":"https://static.tigerbbs.com/d6b16f1b86e7977d1bb375d78b71b51d","vip":1,"currentWearingBadge":{"badgeId":"972123088c9646f7b6091ae0662215be-1","templateUuid":"972123088c9646f7b6091ae0662215be","name":"Elite Trader","description":"Total number of securities or futures transactions reached 30","bigImgUrl":"https://static.tigerbbs.com/ab0f87127c854ce3191a752d57b46edc","smallImgUrl":"https://static.tigerbbs.com/c9835ce48b8c8743566d344ac7a7ba8c","grayImgUrl":"https://static.tigerbbs.com/76754b53ce7a90019f132c1d2fbc698f","redirectLinkEnabled":0,"hasAllocated":1,"isWearing":1,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2022.06.23","exceedPercentage":"60.29%","individualDisplayEnabled":0,"individualDisplaySort":0,"categoryType":1100},"crmLevel":4,"crmLevelSwitch":1,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":814487813,"type":1,"supId":0,"prevId":0,"content":"[LOL][LOL][LOL]","text":"[LOL][LOL][LOL]","html":"[LOL][LOL][LOL]"}],"langContent":"EN"},{"id":814674051,"gmtCreate":1630818169973,"gmtModify":1676530400904,"author":{"id":"3581831647982295","authorId":"3581831647982295","name":"MoonMoon","avatar":"https://static.tigerbbs.com/7abc88bf78bc4fd17d5085b308a74c4d","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/814674051","repostId":2164874003,"repostType":4,"repost":{"id":"2164874003","pubTimestamp":1630674720,"share":"https://www.laohu8.com/m/news/2164874003?lang=&edition=full","pubTime":"2021-09-03 21:12","market":"us","language":"en","title":"This Baby Berkshire Just Hit an All-Time High -- Here's Why It's Still Undervalued","url":"https://stock-news.laohu8.com/highlight/detail?id=2164874003","media":"Motley Fool","summary":"It's not too late to get in on this conglomerate.","content":"<p>Buying into a well-run conglomerate can be incredibly rewarding. Not only can investors possibly beat the market (or at least put up quality returns) over the long haul, but they can do so with minimal effort, increasing the return on time spent. <b>Berkshire Hathaway</b>&nbsp;is the most famous modern conglomerate, run by <a href=\"https://laohu8.com/S/AONE.U\">one</a> of the most well-known investors ever: Warren Buffett.</p>\n<p>One smaller company with similar characteristics to Berkshire Hathaway is <b>Nelnet</b> (NYSE:NNI), a conglomerate focused on financial services based in Lincoln, Nebraska. The stock is currently trading around its all-time highs above $81 per share, but it's still cheap relative to the value of all its assets, providing a great buying opportunity for long-term investors.</p>\n<h2>Slowly melting loan book</h2>\n<p>Nelnet's legacy business is a book of around $20 billion in student loans. It was barred in 2010 from originating new loans when the federal government took the business in-house, but it still has an existing portfolio that will generate cash over the next decade. And the best part about this loan portfolio? Nelnet doesn't take on any material default risk, since all loans are backed by the U.S. government.</p>\n<p>At the end of the second quarter, Nelnet estimated that through 2025, including the last two quarters of this year, this loan book will generate $1.39 billion in cash for the company. After 2025, it will become a much smaller part of the company, but it is still estimated to add another $830 million in cash over the life of the portfolio. Nelnet is using this cash stream to reinvest into its other businesses and return cash to shareholders through dividends (the stock currently yields a little over 1%) and share repurchases.</p>\n<h2>Education software and payments</h2>\n<p>Nelnet's second-largest business is Nelnet Business Services. This segment does tuition payment processing and software for administrative departments at K-12 schools and colleges and is growing at a steady clip. In 2020, NBS produced $66 million in operating income, and that was in a down year with COVID-19-related school closures and postponements. In the first half of this year, NBS had $48 million in operating income, giving the segment a 39% operating margin. Compare that to 2016, when NBS did $34 million in operating income for the full year. This segment is growing steadily for Nelnet and is likely on pace to blow by $100 million in annual operating profits within the next few years.</p>\n<h2>Other investments</h2>\n<p>Nelnet has a lot of smaller businesses and investments that round out the company. One is its loan servicing business, which did $15 million in operating income last quarter. This business requires winning contracts from the federal government, and there is a risk Nelnet won't win future contracts and this entire segment will go away. But with two competitors calling it quits this year, and only <b>Navient</b>&nbsp;remaining as a scaled student loan servicer, it is unlikely that Nelnet will lose this business.</p>\n<p>In 2020, Nelnet sold 48% of its stake in ALLO Communications, a broadband/fiber business, to SDC Capital Partners. Nelnet owns 45% of the business after the transaction, which is valued at $180 million. Under its venture arm, Nelnet owns 20% of sports highlights and film software company Hudl, which is sitting on its balance sheet at $78 million but would likely be worth many times that if Hudl started trading publicly today. Lastly, since 2013, Nelnet has invested $725 million into solar projects, real estate, and venture investments. All these projects are held at cost on Nelnet's balance sheet.</p>\n<h2>Valuation</h2>\n<p>So what's Nelnet worth to the market today? The measly sum of $3.1 billion. That's right, this group of high-quality businesses and a loan book that is <i>guaranteed</i> to spit out $1.39 billion in cash over the next five years can be bought for a market cap of $3.1 billion. Since Nelnet is anti-promotional (it doesn't do conference calls and rarely highlights its Hudl investment), it may take years for investors to realize the true value of this business, which will require patience.</p>\n<p>Nelnet looks fantastically undervalued at the moment and is poised to provide market-beating returns for any investor planning to hold for a decade or longer.</p>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>This Baby Berkshire Just Hit an All-Time High -- Here's Why It's Still Undervalued</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThis Baby Berkshire Just Hit an All-Time High -- Here's Why It's Still Undervalued\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-03 21:12 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/09/03/baby-berkshire-nelnet-just-hit-an-all-time-high/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Buying into a well-run conglomerate can be incredibly rewarding. Not only can investors possibly beat the market (or at least put up quality returns) over the long haul, but they can do so with ...</p>\n\n<a href=\"https://www.fool.com/investing/2021/09/03/baby-berkshire-nelnet-just-hit-an-all-time-high/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BRK.A":"伯克希尔","BRK.B":"伯克希尔B"},"source_url":"https://www.fool.com/investing/2021/09/03/baby-berkshire-nelnet-just-hit-an-all-time-high/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2164874003","content_text":"Buying into a well-run conglomerate can be incredibly rewarding. Not only can investors possibly beat the market (or at least put up quality returns) over the long haul, but they can do so with minimal effort, increasing the return on time spent. Berkshire Hathaway is the most famous modern conglomerate, run by one of the most well-known investors ever: Warren Buffett.\nOne smaller company with similar characteristics to Berkshire Hathaway is Nelnet (NYSE:NNI), a conglomerate focused on financial services based in Lincoln, Nebraska. The stock is currently trading around its all-time highs above $81 per share, but it's still cheap relative to the value of all its assets, providing a great buying opportunity for long-term investors.\nSlowly melting loan book\nNelnet's legacy business is a book of around $20 billion in student loans. It was barred in 2010 from originating new loans when the federal government took the business in-house, but it still has an existing portfolio that will generate cash over the next decade. And the best part about this loan portfolio? Nelnet doesn't take on any material default risk, since all loans are backed by the U.S. government.\nAt the end of the second quarter, Nelnet estimated that through 2025, including the last two quarters of this year, this loan book will generate $1.39 billion in cash for the company. After 2025, it will become a much smaller part of the company, but it is still estimated to add another $830 million in cash over the life of the portfolio. Nelnet is using this cash stream to reinvest into its other businesses and return cash to shareholders through dividends (the stock currently yields a little over 1%) and share repurchases.\nEducation software and payments\nNelnet's second-largest business is Nelnet Business Services. This segment does tuition payment processing and software for administrative departments at K-12 schools and colleges and is growing at a steady clip. In 2020, NBS produced $66 million in operating income, and that was in a down year with COVID-19-related school closures and postponements. In the first half of this year, NBS had $48 million in operating income, giving the segment a 39% operating margin. Compare that to 2016, when NBS did $34 million in operating income for the full year. This segment is growing steadily for Nelnet and is likely on pace to blow by $100 million in annual operating profits within the next few years.\nOther investments\nNelnet has a lot of smaller businesses and investments that round out the company. One is its loan servicing business, which did $15 million in operating income last quarter. This business requires winning contracts from the federal government, and there is a risk Nelnet won't win future contracts and this entire segment will go away. But with two competitors calling it quits this year, and only Navient remaining as a scaled student loan servicer, it is unlikely that Nelnet will lose this business.\nIn 2020, Nelnet sold 48% of its stake in ALLO Communications, a broadband/fiber business, to SDC Capital Partners. Nelnet owns 45% of the business after the transaction, which is valued at $180 million. Under its venture arm, Nelnet owns 20% of sports highlights and film software company Hudl, which is sitting on its balance sheet at $78 million but would likely be worth many times that if Hudl started trading publicly today. Lastly, since 2013, Nelnet has invested $725 million into solar projects, real estate, and venture investments. All these projects are held at cost on Nelnet's balance sheet.\nValuation\nSo what's Nelnet worth to the market today? The measly sum of $3.1 billion. That's right, this group of high-quality businesses and a loan book that is guaranteed to spit out $1.39 billion in cash over the next five years can be bought for a market cap of $3.1 billion. Since Nelnet is anti-promotional (it doesn't do conference calls and rarely highlights its Hudl investment), it may take years for investors to realize the true value of this business, which will require patience.\nNelnet looks fantastically undervalued at the moment and is poised to provide market-beating returns for any investor planning to hold for a decade or longer.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5762991,"gmtCreate":1630867328608,"gmtModify":1663233431944,"authorId":3576232257279797,"author":{"id":3576232257279797,"authorId":3576232257279797,"name":"dandan_4896","avatar":"https://static.tigerbbs.com/d8b00e27a4dd6f248e38c3d78f21f188","vip":1,"crmLevel":2,"crmLevelSwitch":1,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":814674051,"type":1,"supId":0,"prevId":0,"content":"g","text":"g","html":"g"},{"id":5760486,"gmtCreate":1630834387850,"gmtModify":1663233420328,"authorId":3555387918238957,"author":{"id":3555387918238957,"authorId":3555387918238957,"name":"Greysuntan","avatar":"https://static.tigerbbs.com/ece16322ae91656fe9fd7280a6ecc439","vip":1,"currentWearingBadge":{"badgeId":"44212b71d0be4ec88898348dbe882e03-2","templateUuid":"44212b71d0be4ec88898348dbe882e03","name":"Executive Tiger","description":"The transaction amount of the securities account reaches $300,000","bigImgUrl":"https://static.tigerbbs.com/9d20b23f1b6335407f882bc5c2ad12c0","smallImgUrl":"https://static.tigerbbs.com/ada3b4533518ace8404a3f6dd192bd29","grayImgUrl":"https://static.tigerbbs.com/177f283ba21d1c077054dac07f88f3bd","redirectLinkEnabled":0,"hasAllocated":1,"isWearing":1,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2023.07.14","exceedPercentage":"80.24%","individualDisplayEnabled":0,"individualDisplaySort":0,"categoryType":1101},"crmLevel":3,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":814674051,"type":1,"supId":0,"prevId":0,"content":"Yes","text":"Yes","html":"Yes"}],"langContent":"EN"},{"id":814392576,"gmtCreate":1630758313695,"gmtModify":1676530391130,"author":{"id":"4087109808120260","authorId":"4087109808120260","name":"Tanyl","avatar":"https://static.tigerbbs.com/174329973340cf0f5b68791ee5b08afd","vip":1,"crmLevel":9,"crmLevelSwitch":1},"htmlText":"Will buy NINI &amp; BTC in Option way","listText":"Will buy NINI &amp; BTC in Option way","text":"Will buy NINI & BTC in Option way","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/814392576","repostId":2164874003,"repostType":4,"repost":{"id":"2164874003","pubTimestamp":1630674720,"share":"https://www.laohu8.com/m/news/2164874003?lang=&edition=full","pubTime":"2021-09-03 21:12","market":"us","language":"en","title":"This Baby Berkshire Just Hit an All-Time High -- Here's Why It's Still Undervalued","url":"https://stock-news.laohu8.com/highlight/detail?id=2164874003","media":"Motley Fool","summary":"It's not too late to get in on this conglomerate.","content":"<p>Buying into a well-run conglomerate can be incredibly rewarding. Not only can investors possibly beat the market (or at least put up quality returns) over the long haul, but they can do so with minimal effort, increasing the return on time spent. <b>Berkshire Hathaway</b>&nbsp;is the most famous modern conglomerate, run by <a href=\"https://laohu8.com/S/AONE.U\">one</a> of the most well-known investors ever: Warren Buffett.</p>\n<p>One smaller company with similar characteristics to Berkshire Hathaway is <b>Nelnet</b> (NYSE:NNI), a conglomerate focused on financial services based in Lincoln, Nebraska. The stock is currently trading around its all-time highs above $81 per share, but it's still cheap relative to the value of all its assets, providing a great buying opportunity for long-term investors.</p>\n<h2>Slowly melting loan book</h2>\n<p>Nelnet's legacy business is a book of around $20 billion in student loans. It was barred in 2010 from originating new loans when the federal government took the business in-house, but it still has an existing portfolio that will generate cash over the next decade. And the best part about this loan portfolio? Nelnet doesn't take on any material default risk, since all loans are backed by the U.S. government.</p>\n<p>At the end of the second quarter, Nelnet estimated that through 2025, including the last two quarters of this year, this loan book will generate $1.39 billion in cash for the company. After 2025, it will become a much smaller part of the company, but it is still estimated to add another $830 million in cash over the life of the portfolio. Nelnet is using this cash stream to reinvest into its other businesses and return cash to shareholders through dividends (the stock currently yields a little over 1%) and share repurchases.</p>\n<h2>Education software and payments</h2>\n<p>Nelnet's second-largest business is Nelnet Business Services. This segment does tuition payment processing and software for administrative departments at K-12 schools and colleges and is growing at a steady clip. In 2020, NBS produced $66 million in operating income, and that was in a down year with COVID-19-related school closures and postponements. In the first half of this year, NBS had $48 million in operating income, giving the segment a 39% operating margin. Compare that to 2016, when NBS did $34 million in operating income for the full year. This segment is growing steadily for Nelnet and is likely on pace to blow by $100 million in annual operating profits within the next few years.</p>\n<h2>Other investments</h2>\n<p>Nelnet has a lot of smaller businesses and investments that round out the company. One is its loan servicing business, which did $15 million in operating income last quarter. This business requires winning contracts from the federal government, and there is a risk Nelnet won't win future contracts and this entire segment will go away. But with two competitors calling it quits this year, and only <b>Navient</b>&nbsp;remaining as a scaled student loan servicer, it is unlikely that Nelnet will lose this business.</p>\n<p>In 2020, Nelnet sold 48% of its stake in ALLO Communications, a broadband/fiber business, to SDC Capital Partners. Nelnet owns 45% of the business after the transaction, which is valued at $180 million. Under its venture arm, Nelnet owns 20% of sports highlights and film software company Hudl, which is sitting on its balance sheet at $78 million but would likely be worth many times that if Hudl started trading publicly today. Lastly, since 2013, Nelnet has invested $725 million into solar projects, real estate, and venture investments. All these projects are held at cost on Nelnet's balance sheet.</p>\n<h2>Valuation</h2>\n<p>So what's Nelnet worth to the market today? The measly sum of $3.1 billion. That's right, this group of high-quality businesses and a loan book that is <i>guaranteed</i> to spit out $1.39 billion in cash over the next five years can be bought for a market cap of $3.1 billion. Since Nelnet is anti-promotional (it doesn't do conference calls and rarely highlights its Hudl investment), it may take years for investors to realize the true value of this business, which will require patience.</p>\n<p>Nelnet looks fantastically undervalued at the moment and is poised to provide market-beating returns for any investor planning to hold for a decade or longer.</p>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>This Baby Berkshire Just Hit an All-Time High -- Here's Why It's Still Undervalued</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThis Baby Berkshire Just Hit an All-Time High -- Here's Why It's Still Undervalued\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-03 21:12 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/09/03/baby-berkshire-nelnet-just-hit-an-all-time-high/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Buying into a well-run conglomerate can be incredibly rewarding. Not only can investors possibly beat the market (or at least put up quality returns) over the long haul, but they can do so with ...</p>\n\n<a href=\"https://www.fool.com/investing/2021/09/03/baby-berkshire-nelnet-just-hit-an-all-time-high/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BRK.A":"伯克希尔","BRK.B":"伯克希尔B"},"source_url":"https://www.fool.com/investing/2021/09/03/baby-berkshire-nelnet-just-hit-an-all-time-high/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2164874003","content_text":"Buying into a well-run conglomerate can be incredibly rewarding. Not only can investors possibly beat the market (or at least put up quality returns) over the long haul, but they can do so with minimal effort, increasing the return on time spent. Berkshire Hathaway is the most famous modern conglomerate, run by one of the most well-known investors ever: Warren Buffett.\nOne smaller company with similar characteristics to Berkshire Hathaway is Nelnet (NYSE:NNI), a conglomerate focused on financial services based in Lincoln, Nebraska. The stock is currently trading around its all-time highs above $81 per share, but it's still cheap relative to the value of all its assets, providing a great buying opportunity for long-term investors.\nSlowly melting loan book\nNelnet's legacy business is a book of around $20 billion in student loans. It was barred in 2010 from originating new loans when the federal government took the business in-house, but it still has an existing portfolio that will generate cash over the next decade. And the best part about this loan portfolio? Nelnet doesn't take on any material default risk, since all loans are backed by the U.S. government.\nAt the end of the second quarter, Nelnet estimated that through 2025, including the last two quarters of this year, this loan book will generate $1.39 billion in cash for the company. After 2025, it will become a much smaller part of the company, but it is still estimated to add another $830 million in cash over the life of the portfolio. Nelnet is using this cash stream to reinvest into its other businesses and return cash to shareholders through dividends (the stock currently yields a little over 1%) and share repurchases.\nEducation software and payments\nNelnet's second-largest business is Nelnet Business Services. This segment does tuition payment processing and software for administrative departments at K-12 schools and colleges and is growing at a steady clip. In 2020, NBS produced $66 million in operating income, and that was in a down year with COVID-19-related school closures and postponements. In the first half of this year, NBS had $48 million in operating income, giving the segment a 39% operating margin. Compare that to 2016, when NBS did $34 million in operating income for the full year. This segment is growing steadily for Nelnet and is likely on pace to blow by $100 million in annual operating profits within the next few years.\nOther investments\nNelnet has a lot of smaller businesses and investments that round out the company. One is its loan servicing business, which did $15 million in operating income last quarter. This business requires winning contracts from the federal government, and there is a risk Nelnet won't win future contracts and this entire segment will go away. But with two competitors calling it quits this year, and only Navient remaining as a scaled student loan servicer, it is unlikely that Nelnet will lose this business.\nIn 2020, Nelnet sold 48% of its stake in ALLO Communications, a broadband/fiber business, to SDC Capital Partners. Nelnet owns 45% of the business after the transaction, which is valued at $180 million. Under its venture arm, Nelnet owns 20% of sports highlights and film software company Hudl, which is sitting on its balance sheet at $78 million but would likely be worth many times that if Hudl started trading publicly today. Lastly, since 2013, Nelnet has invested $725 million into solar projects, real estate, and venture investments. All these projects are held at cost on Nelnet's balance sheet.\nValuation\nSo what's Nelnet worth to the market today? The measly sum of $3.1 billion. That's right, this group of high-quality businesses and a loan book that is guaranteed to spit out $1.39 billion in cash over the next five years can be bought for a market cap of $3.1 billion. Since Nelnet is anti-promotional (it doesn't do conference calls and rarely highlights its Hudl investment), it may take years for investors to realize the true value of this business, which will require patience.\nNelnet looks fantastically undervalued at the moment and is poised to provide market-beating returns for any investor planning to hold for a decade or longer.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5762766,"gmtCreate":1630859007637,"gmtModify":1663233431941,"authorId":3584955097359320,"author":{"id":3584955097359320,"authorId":3584955097359320,"name":"FlareSpark","avatar":"https://static.tigerbbs.com/38942f5d417a8d645800903b08402b4e","vip":1,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":814392576,"type":1,"supId":0,"prevId":0,"content":"[Strong]","text":"[Strong]","html":"[Strong]"},{"id":5757135,"gmtCreate":1630808125765,"gmtModify":1663233408547,"authorId":3581947337293370,"author":{"id":3581947337293370,"authorId":3581947337293370,"name":"Ku9787","avatar":"https://static.tigerbbs.com/673e038dbe2974017866e5beb5d79032","vip":1,"crmLevel":7,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":814392576,"type":1,"supId":0,"prevId":0,"content":"<u>cool</u>","text":"<u>cool</u>","html":"<u>cool</u>"},{"id":5757826,"gmtCreate":1630811590122,"gmtModify":1635130596104,"authorId":3573789368183095,"author":{"id":3573789368183095,"authorId":3573789368183095,"name":"MinQuan","avatar":"https://community-static.tradeup.com/news/b10cda2240c7cb11a8ead6b9a2439f1b","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":814392576,"type":1,"supId":5757135,"prevId":0,"content":"?","text":"?","html":"?"}],"langContent":"EN"},{"id":814971505,"gmtCreate":1630753740907,"gmtModify":1676530390539,"author":{"id":"3586774718687945","authorId":"3586774718687945","name":"Stchua","avatar":"https://static.tigerbbs.com/9c6da38be819096178bf3d64e02165e0","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"[Smile]&nbsp;","listText":"[Smile]&nbsp;","text":"[Smile]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/814971505","repostId":2164874003,"repostType":4,"repost":{"id":"2164874003","pubTimestamp":1630674720,"share":"https://www.laohu8.com/m/news/2164874003?lang=&edition=full","pubTime":"2021-09-03 21:12","market":"us","language":"en","title":"This Baby Berkshire Just Hit an All-Time High -- Here's Why It's Still Undervalued","url":"https://stock-news.laohu8.com/highlight/detail?id=2164874003","media":"Motley Fool","summary":"It's not too late to get in on this conglomerate.","content":"<p>Buying into a well-run conglomerate can be incredibly rewarding. Not only can investors possibly beat the market (or at least put up quality returns) over the long haul, but they can do so with minimal effort, increasing the return on time spent. <b>Berkshire Hathaway</b>&nbsp;is the most famous modern conglomerate, run by <a href=\"https://laohu8.com/S/AONE.U\">one</a> of the most well-known investors ever: Warren Buffett.</p>\n<p>One smaller company with similar characteristics to Berkshire Hathaway is <b>Nelnet</b> (NYSE:NNI), a conglomerate focused on financial services based in Lincoln, Nebraska. The stock is currently trading around its all-time highs above $81 per share, but it's still cheap relative to the value of all its assets, providing a great buying opportunity for long-term investors.</p>\n<h2>Slowly melting loan book</h2>\n<p>Nelnet's legacy business is a book of around $20 billion in student loans. It was barred in 2010 from originating new loans when the federal government took the business in-house, but it still has an existing portfolio that will generate cash over the next decade. And the best part about this loan portfolio? Nelnet doesn't take on any material default risk, since all loans are backed by the U.S. government.</p>\n<p>At the end of the second quarter, Nelnet estimated that through 2025, including the last two quarters of this year, this loan book will generate $1.39 billion in cash for the company. After 2025, it will become a much smaller part of the company, but it is still estimated to add another $830 million in cash over the life of the portfolio. Nelnet is using this cash stream to reinvest into its other businesses and return cash to shareholders through dividends (the stock currently yields a little over 1%) and share repurchases.</p>\n<h2>Education software and payments</h2>\n<p>Nelnet's second-largest business is Nelnet Business Services. This segment does tuition payment processing and software for administrative departments at K-12 schools and colleges and is growing at a steady clip. In 2020, NBS produced $66 million in operating income, and that was in a down year with COVID-19-related school closures and postponements. In the first half of this year, NBS had $48 million in operating income, giving the segment a 39% operating margin. Compare that to 2016, when NBS did $34 million in operating income for the full year. This segment is growing steadily for Nelnet and is likely on pace to blow by $100 million in annual operating profits within the next few years.</p>\n<h2>Other investments</h2>\n<p>Nelnet has a lot of smaller businesses and investments that round out the company. One is its loan servicing business, which did $15 million in operating income last quarter. This business requires winning contracts from the federal government, and there is a risk Nelnet won't win future contracts and this entire segment will go away. But with two competitors calling it quits this year, and only <b>Navient</b>&nbsp;remaining as a scaled student loan servicer, it is unlikely that Nelnet will lose this business.</p>\n<p>In 2020, Nelnet sold 48% of its stake in ALLO Communications, a broadband/fiber business, to SDC Capital Partners. Nelnet owns 45% of the business after the transaction, which is valued at $180 million. Under its venture arm, Nelnet owns 20% of sports highlights and film software company Hudl, which is sitting on its balance sheet at $78 million but would likely be worth many times that if Hudl started trading publicly today. Lastly, since 2013, Nelnet has invested $725 million into solar projects, real estate, and venture investments. All these projects are held at cost on Nelnet's balance sheet.</p>\n<h2>Valuation</h2>\n<p>So what's Nelnet worth to the market today? The measly sum of $3.1 billion. That's right, this group of high-quality businesses and a loan book that is <i>guaranteed</i> to spit out $1.39 billion in cash over the next five years can be bought for a market cap of $3.1 billion. Since Nelnet is anti-promotional (it doesn't do conference calls and rarely highlights its Hudl investment), it may take years for investors to realize the true value of this business, which will require patience.</p>\n<p>Nelnet looks fantastically undervalued at the moment and is poised to provide market-beating returns for any investor planning to hold for a decade or longer.</p>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>This Baby Berkshire Just Hit an All-Time High -- Here's Why It's Still Undervalued</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThis Baby Berkshire Just Hit an All-Time High -- Here's Why It's Still Undervalued\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-03 21:12 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/09/03/baby-berkshire-nelnet-just-hit-an-all-time-high/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Buying into a well-run conglomerate can be incredibly rewarding. Not only can investors possibly beat the market (or at least put up quality returns) over the long haul, but they can do so with ...</p>\n\n<a href=\"https://www.fool.com/investing/2021/09/03/baby-berkshire-nelnet-just-hit-an-all-time-high/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BRK.A":"伯克希尔","BRK.B":"伯克希尔B"},"source_url":"https://www.fool.com/investing/2021/09/03/baby-berkshire-nelnet-just-hit-an-all-time-high/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2164874003","content_text":"Buying into a well-run conglomerate can be incredibly rewarding. Not only can investors possibly beat the market (or at least put up quality returns) over the long haul, but they can do so with minimal effort, increasing the return on time spent. Berkshire Hathaway is the most famous modern conglomerate, run by one of the most well-known investors ever: Warren Buffett.\nOne smaller company with similar characteristics to Berkshire Hathaway is Nelnet (NYSE:NNI), a conglomerate focused on financial services based in Lincoln, Nebraska. The stock is currently trading around its all-time highs above $81 per share, but it's still cheap relative to the value of all its assets, providing a great buying opportunity for long-term investors.\nSlowly melting loan book\nNelnet's legacy business is a book of around $20 billion in student loans. It was barred in 2010 from originating new loans when the federal government took the business in-house, but it still has an existing portfolio that will generate cash over the next decade. And the best part about this loan portfolio? Nelnet doesn't take on any material default risk, since all loans are backed by the U.S. government.\nAt the end of the second quarter, Nelnet estimated that through 2025, including the last two quarters of this year, this loan book will generate $1.39 billion in cash for the company. After 2025, it will become a much smaller part of the company, but it is still estimated to add another $830 million in cash over the life of the portfolio. Nelnet is using this cash stream to reinvest into its other businesses and return cash to shareholders through dividends (the stock currently yields a little over 1%) and share repurchases.\nEducation software and payments\nNelnet's second-largest business is Nelnet Business Services. This segment does tuition payment processing and software for administrative departments at K-12 schools and colleges and is growing at a steady clip. In 2020, NBS produced $66 million in operating income, and that was in a down year with COVID-19-related school closures and postponements. In the first half of this year, NBS had $48 million in operating income, giving the segment a 39% operating margin. Compare that to 2016, when NBS did $34 million in operating income for the full year. This segment is growing steadily for Nelnet and is likely on pace to blow by $100 million in annual operating profits within the next few years.\nOther investments\nNelnet has a lot of smaller businesses and investments that round out the company. One is its loan servicing business, which did $15 million in operating income last quarter. This business requires winning contracts from the federal government, and there is a risk Nelnet won't win future contracts and this entire segment will go away. But with two competitors calling it quits this year, and only Navient remaining as a scaled student loan servicer, it is unlikely that Nelnet will lose this business.\nIn 2020, Nelnet sold 48% of its stake in ALLO Communications, a broadband/fiber business, to SDC Capital Partners. Nelnet owns 45% of the business after the transaction, which is valued at $180 million. Under its venture arm, Nelnet owns 20% of sports highlights and film software company Hudl, which is sitting on its balance sheet at $78 million but would likely be worth many times that if Hudl started trading publicly today. Lastly, since 2013, Nelnet has invested $725 million into solar projects, real estate, and venture investments. All these projects are held at cost on Nelnet's balance sheet.\nValuation\nSo what's Nelnet worth to the market today? The measly sum of $3.1 billion. That's right, this group of high-quality businesses and a loan book that is guaranteed to spit out $1.39 billion in cash over the next five years can be bought for a market cap of $3.1 billion. Since Nelnet is anti-promotional (it doesn't do conference calls and rarely highlights its Hudl investment), it may take years for investors to realize the true value of this business, which will require patience.\nNelnet looks fantastically undervalued at the moment and is poised to provide market-beating returns for any investor planning to hold for a decade or longer.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":814998415,"gmtCreate":1630737165537,"gmtModify":1676530388262,"author":{"id":"3574906731000207","authorId":"3574906731000207","name":"SSVC","avatar":"https://static.tigerbbs.com/545a5ea462ff4ac7cc100bd3d8d97f72","vip":1,"crmLevel":3,"crmLevelSwitch":0},"htmlText":"Ya Appreciate your response and comments Thanks&nbsp;","listText":"Ya Appreciate your response and comments Thanks&nbsp;","text":"Ya Appreciate your response and comments Thanks","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":5,"repostSize":0,"link":"https://ttm.financial/post/814998415","repostId":2164874003,"repostType":4,"repost":{"id":"2164874003","pubTimestamp":1630674720,"share":"https://www.laohu8.com/m/news/2164874003?lang=&edition=full","pubTime":"2021-09-03 21:12","market":"us","language":"en","title":"This Baby Berkshire Just Hit an All-Time High -- Here's Why It's Still Undervalued","url":"https://stock-news.laohu8.com/highlight/detail?id=2164874003","media":"Motley Fool","summary":"It's not too late to get in on this conglomerate.","content":"<p>Buying into a well-run conglomerate can be incredibly rewarding. Not only can investors possibly beat the market (or at least put up quality returns) over the long haul, but they can do so with minimal effort, increasing the return on time spent. <b>Berkshire Hathaway</b>&nbsp;is the most famous modern conglomerate, run by <a href=\"https://laohu8.com/S/AONE.U\">one</a> of the most well-known investors ever: Warren Buffett.</p>\n<p>One smaller company with similar characteristics to Berkshire Hathaway is <b>Nelnet</b> (NYSE:NNI), a conglomerate focused on financial services based in Lincoln, Nebraska. The stock is currently trading around its all-time highs above $81 per share, but it's still cheap relative to the value of all its assets, providing a great buying opportunity for long-term investors.</p>\n<h2>Slowly melting loan book</h2>\n<p>Nelnet's legacy business is a book of around $20 billion in student loans. It was barred in 2010 from originating new loans when the federal government took the business in-house, but it still has an existing portfolio that will generate cash over the next decade. And the best part about this loan portfolio? Nelnet doesn't take on any material default risk, since all loans are backed by the U.S. government.</p>\n<p>At the end of the second quarter, Nelnet estimated that through 2025, including the last two quarters of this year, this loan book will generate $1.39 billion in cash for the company. After 2025, it will become a much smaller part of the company, but it is still estimated to add another $830 million in cash over the life of the portfolio. Nelnet is using this cash stream to reinvest into its other businesses and return cash to shareholders through dividends (the stock currently yields a little over 1%) and share repurchases.</p>\n<h2>Education software and payments</h2>\n<p>Nelnet's second-largest business is Nelnet Business Services. This segment does tuition payment processing and software for administrative departments at K-12 schools and colleges and is growing at a steady clip. In 2020, NBS produced $66 million in operating income, and that was in a down year with COVID-19-related school closures and postponements. In the first half of this year, NBS had $48 million in operating income, giving the segment a 39% operating margin. Compare that to 2016, when NBS did $34 million in operating income for the full year. This segment is growing steadily for Nelnet and is likely on pace to blow by $100 million in annual operating profits within the next few years.</p>\n<h2>Other investments</h2>\n<p>Nelnet has a lot of smaller businesses and investments that round out the company. One is its loan servicing business, which did $15 million in operating income last quarter. This business requires winning contracts from the federal government, and there is a risk Nelnet won't win future contracts and this entire segment will go away. But with two competitors calling it quits this year, and only <b>Navient</b>&nbsp;remaining as a scaled student loan servicer, it is unlikely that Nelnet will lose this business.</p>\n<p>In 2020, Nelnet sold 48% of its stake in ALLO Communications, a broadband/fiber business, to SDC Capital Partners. Nelnet owns 45% of the business after the transaction, which is valued at $180 million. Under its venture arm, Nelnet owns 20% of sports highlights and film software company Hudl, which is sitting on its balance sheet at $78 million but would likely be worth many times that if Hudl started trading publicly today. Lastly, since 2013, Nelnet has invested $725 million into solar projects, real estate, and venture investments. All these projects are held at cost on Nelnet's balance sheet.</p>\n<h2>Valuation</h2>\n<p>So what's Nelnet worth to the market today? The measly sum of $3.1 billion. That's right, this group of high-quality businesses and a loan book that is <i>guaranteed</i> to spit out $1.39 billion in cash over the next five years can be bought for a market cap of $3.1 billion. Since Nelnet is anti-promotional (it doesn't do conference calls and rarely highlights its Hudl investment), it may take years for investors to realize the true value of this business, which will require patience.</p>\n<p>Nelnet looks fantastically undervalued at the moment and is poised to provide market-beating returns for any investor planning to hold for a decade or longer.</p>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>This Baby Berkshire Just Hit an All-Time High -- Here's Why It's Still Undervalued</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThis Baby Berkshire Just Hit an All-Time High -- Here's Why It's Still Undervalued\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-03 21:12 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/09/03/baby-berkshire-nelnet-just-hit-an-all-time-high/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Buying into a well-run conglomerate can be incredibly rewarding. Not only can investors possibly beat the market (or at least put up quality returns) over the long haul, but they can do so with ...</p>\n\n<a href=\"https://www.fool.com/investing/2021/09/03/baby-berkshire-nelnet-just-hit-an-all-time-high/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BRK.A":"伯克希尔","BRK.B":"伯克希尔B"},"source_url":"https://www.fool.com/investing/2021/09/03/baby-berkshire-nelnet-just-hit-an-all-time-high/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2164874003","content_text":"Buying into a well-run conglomerate can be incredibly rewarding. Not only can investors possibly beat the market (or at least put up quality returns) over the long haul, but they can do so with minimal effort, increasing the return on time spent. Berkshire Hathaway is the most famous modern conglomerate, run by one of the most well-known investors ever: Warren Buffett.\nOne smaller company with similar characteristics to Berkshire Hathaway is Nelnet (NYSE:NNI), a conglomerate focused on financial services based in Lincoln, Nebraska. The stock is currently trading around its all-time highs above $81 per share, but it's still cheap relative to the value of all its assets, providing a great buying opportunity for long-term investors.\nSlowly melting loan book\nNelnet's legacy business is a book of around $20 billion in student loans. It was barred in 2010 from originating new loans when the federal government took the business in-house, but it still has an existing portfolio that will generate cash over the next decade. And the best part about this loan portfolio? Nelnet doesn't take on any material default risk, since all loans are backed by the U.S. government.\nAt the end of the second quarter, Nelnet estimated that through 2025, including the last two quarters of this year, this loan book will generate $1.39 billion in cash for the company. After 2025, it will become a much smaller part of the company, but it is still estimated to add another $830 million in cash over the life of the portfolio. Nelnet is using this cash stream to reinvest into its other businesses and return cash to shareholders through dividends (the stock currently yields a little over 1%) and share repurchases.\nEducation software and payments\nNelnet's second-largest business is Nelnet Business Services. This segment does tuition payment processing and software for administrative departments at K-12 schools and colleges and is growing at a steady clip. In 2020, NBS produced $66 million in operating income, and that was in a down year with COVID-19-related school closures and postponements. In the first half of this year, NBS had $48 million in operating income, giving the segment a 39% operating margin. Compare that to 2016, when NBS did $34 million in operating income for the full year. This segment is growing steadily for Nelnet and is likely on pace to blow by $100 million in annual operating profits within the next few years.\nOther investments\nNelnet has a lot of smaller businesses and investments that round out the company. One is its loan servicing business, which did $15 million in operating income last quarter. This business requires winning contracts from the federal government, and there is a risk Nelnet won't win future contracts and this entire segment will go away. But with two competitors calling it quits this year, and only Navient remaining as a scaled student loan servicer, it is unlikely that Nelnet will lose this business.\nIn 2020, Nelnet sold 48% of its stake in ALLO Communications, a broadband/fiber business, to SDC Capital Partners. Nelnet owns 45% of the business after the transaction, which is valued at $180 million. Under its venture arm, Nelnet owns 20% of sports highlights and film software company Hudl, which is sitting on its balance sheet at $78 million but would likely be worth many times that if Hudl started trading publicly today. Lastly, since 2013, Nelnet has invested $725 million into solar projects, real estate, and venture investments. All these projects are held at cost on Nelnet's balance sheet.\nValuation\nSo what's Nelnet worth to the market today? The measly sum of $3.1 billion. That's right, this group of high-quality businesses and a loan book that is guaranteed to spit out $1.39 billion in cash over the next five years can be bought for a market cap of $3.1 billion. Since Nelnet is anti-promotional (it doesn't do conference calls and rarely highlights its Hudl investment), it may take years for investors to realize the true value of this business, which will require patience.\nNelnet looks fantastically undervalued at the moment and is poised to provide market-beating returns for any investor planning to hold for a decade or longer.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5758902,"gmtCreate":1630817754082,"gmtModify":1663233417136,"authorId":3574906731000207,"author":{"id":3574906731000207,"authorId":3574906731000207,"name":"SSVC","avatar":"https://static.tigerbbs.com/545a5ea462ff4ac7cc100bd3d8d97f72","vip":1,"crmLevel":3,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":814998415,"type":1,"supId":5758348,"prevId":0,"content":"[Strong][ShakeHands]","text":"[Strong][ShakeHands]","html":"[Strong][ShakeHands]"},{"id":5758348,"gmtCreate":1630814242260,"gmtModify":1663233414931,"authorId":3570439473038184,"author":{"id":3570439473038184,"authorId":3570439473038184,"name":"Qarah","avatar":"https://static.tigerbbs.com/48285a44928a897dd5f255c626d5e9e1","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":814998415,"type":1,"supId":0,"prevId":0,"content":"Like and comment back thanks","text":"Like and comment back thanks","html":"Like and comment back thanks"},{"id":5758905,"gmtCreate":1630817764589,"gmtModify":1663233414742,"authorId":3574906731000207,"author":{"id":3574906731000207,"authorId":3574906731000207,"name":"SSVC","avatar":"https://static.tigerbbs.com/545a5ea462ff4ac7cc100bd3d8d97f72","vip":1,"crmLevel":3,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":814998415,"type":1,"supId":5756363,"prevId":0,"content":"[Strong][ShakeHands][Strong][ShakeHands]","text":"[Strong][ShakeHands][Strong][ShakeHands]","html":"[Strong][ShakeHands][Strong][ShakeHands]"},{"id":5757379,"gmtCreate":1630809268529,"gmtModify":1663233408744,"authorId":3580629550243320,"author":{"id":3580629550243320,"authorId":3580629550243320,"name":"小小馒头","avatar":"https://static.tigerbbs.com/8662af09a6a7d2e9548f6a2e76832bc6","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":814998415,"type":1,"supId":0,"prevId":0,"content":"Done","text":"Done","html":"Done"},{"id":5756363,"gmtCreate":1630805392470,"gmtModify":1663233402848,"authorId":3570241401388332,"author":{"id":3570241401388332,"authorId":3570241401388332,"name":"GabrielOr","avatar":"https://static.tigerbbs.com/95dd3c0f7679a76d0310824220d86489","vip":1,"crmLevel":3,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":814998415,"type":1,"supId":0,"prevId":0,"content":"<u>cool</u>","text":"<u>cool</u>","html":"<u>cool</u>"}],"langContent":"EN"},{"id":815415403,"gmtCreate":1630712921102,"gmtModify":1676530380686,"author":{"id":"3574381076586256","authorId":"3574381076586256","name":"KYHBKO","avatar":"https://static.tigerbbs.com/c3bcbc7f9a10836dea92afc94bf39b5b","vip":2,"crmLevel":4,"crmLevelSwitch":0},"htmlText":"let us do our due diligence before we invest.&nbsp;","listText":"let us do our due diligence before we invest.&nbsp;","text":"let us do our due diligence before we invest.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/815415403","repostId":2164874003,"repostType":4,"repost":{"id":"2164874003","pubTimestamp":1630674720,"share":"https://www.laohu8.com/m/news/2164874003?lang=&edition=full","pubTime":"2021-09-03 21:12","market":"us","language":"en","title":"This Baby Berkshire Just Hit an All-Time High -- Here's Why It's Still Undervalued","url":"https://stock-news.laohu8.com/highlight/detail?id=2164874003","media":"Motley Fool","summary":"It's not too late to get in on this conglomerate.","content":"<p>Buying into a well-run conglomerate can be incredibly rewarding. Not only can investors possibly beat the market (or at least put up quality returns) over the long haul, but they can do so with minimal effort, increasing the return on time spent. <b>Berkshire Hathaway</b>&nbsp;is the most famous modern conglomerate, run by <a href=\"https://laohu8.com/S/AONE.U\">one</a> of the most well-known investors ever: Warren Buffett.</p>\n<p>One smaller company with similar characteristics to Berkshire Hathaway is <b>Nelnet</b> (NYSE:NNI), a conglomerate focused on financial services based in Lincoln, Nebraska. The stock is currently trading around its all-time highs above $81 per share, but it's still cheap relative to the value of all its assets, providing a great buying opportunity for long-term investors.</p>\n<h2>Slowly melting loan book</h2>\n<p>Nelnet's legacy business is a book of around $20 billion in student loans. It was barred in 2010 from originating new loans when the federal government took the business in-house, but it still has an existing portfolio that will generate cash over the next decade. And the best part about this loan portfolio? Nelnet doesn't take on any material default risk, since all loans are backed by the U.S. government.</p>\n<p>At the end of the second quarter, Nelnet estimated that through 2025, including the last two quarters of this year, this loan book will generate $1.39 billion in cash for the company. After 2025, it will become a much smaller part of the company, but it is still estimated to add another $830 million in cash over the life of the portfolio. Nelnet is using this cash stream to reinvest into its other businesses and return cash to shareholders through dividends (the stock currently yields a little over 1%) and share repurchases.</p>\n<h2>Education software and payments</h2>\n<p>Nelnet's second-largest business is Nelnet Business Services. This segment does tuition payment processing and software for administrative departments at K-12 schools and colleges and is growing at a steady clip. In 2020, NBS produced $66 million in operating income, and that was in a down year with COVID-19-related school closures and postponements. In the first half of this year, NBS had $48 million in operating income, giving the segment a 39% operating margin. Compare that to 2016, when NBS did $34 million in operating income for the full year. This segment is growing steadily for Nelnet and is likely on pace to blow by $100 million in annual operating profits within the next few years.</p>\n<h2>Other investments</h2>\n<p>Nelnet has a lot of smaller businesses and investments that round out the company. One is its loan servicing business, which did $15 million in operating income last quarter. This business requires winning contracts from the federal government, and there is a risk Nelnet won't win future contracts and this entire segment will go away. But with two competitors calling it quits this year, and only <b>Navient</b>&nbsp;remaining as a scaled student loan servicer, it is unlikely that Nelnet will lose this business.</p>\n<p>In 2020, Nelnet sold 48% of its stake in ALLO Communications, a broadband/fiber business, to SDC Capital Partners. Nelnet owns 45% of the business after the transaction, which is valued at $180 million. Under its venture arm, Nelnet owns 20% of sports highlights and film software company Hudl, which is sitting on its balance sheet at $78 million but would likely be worth many times that if Hudl started trading publicly today. Lastly, since 2013, Nelnet has invested $725 million into solar projects, real estate, and venture investments. All these projects are held at cost on Nelnet's balance sheet.</p>\n<h2>Valuation</h2>\n<p>So what's Nelnet worth to the market today? The measly sum of $3.1 billion. That's right, this group of high-quality businesses and a loan book that is <i>guaranteed</i> to spit out $1.39 billion in cash over the next five years can be bought for a market cap of $3.1 billion. Since Nelnet is anti-promotional (it doesn't do conference calls and rarely highlights its Hudl investment), it may take years for investors to realize the true value of this business, which will require patience.</p>\n<p>Nelnet looks fantastically undervalued at the moment and is poised to provide market-beating returns for any investor planning to hold for a decade or longer.</p>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>This Baby Berkshire Just Hit an All-Time High -- Here's Why It's Still Undervalued</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThis Baby Berkshire Just Hit an All-Time High -- Here's Why It's Still Undervalued\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-03 21:12 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/09/03/baby-berkshire-nelnet-just-hit-an-all-time-high/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Buying into a well-run conglomerate can be incredibly rewarding. Not only can investors possibly beat the market (or at least put up quality returns) over the long haul, but they can do so with ...</p>\n\n<a href=\"https://www.fool.com/investing/2021/09/03/baby-berkshire-nelnet-just-hit-an-all-time-high/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BRK.A":"伯克希尔","BRK.B":"伯克希尔B"},"source_url":"https://www.fool.com/investing/2021/09/03/baby-berkshire-nelnet-just-hit-an-all-time-high/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2164874003","content_text":"Buying into a well-run conglomerate can be incredibly rewarding. Not only can investors possibly beat the market (or at least put up quality returns) over the long haul, but they can do so with minimal effort, increasing the return on time spent. Berkshire Hathaway is the most famous modern conglomerate, run by one of the most well-known investors ever: Warren Buffett.\nOne smaller company with similar characteristics to Berkshire Hathaway is Nelnet (NYSE:NNI), a conglomerate focused on financial services based in Lincoln, Nebraska. The stock is currently trading around its all-time highs above $81 per share, but it's still cheap relative to the value of all its assets, providing a great buying opportunity for long-term investors.\nSlowly melting loan book\nNelnet's legacy business is a book of around $20 billion in student loans. It was barred in 2010 from originating new loans when the federal government took the business in-house, but it still has an existing portfolio that will generate cash over the next decade. And the best part about this loan portfolio? Nelnet doesn't take on any material default risk, since all loans are backed by the U.S. government.\nAt the end of the second quarter, Nelnet estimated that through 2025, including the last two quarters of this year, this loan book will generate $1.39 billion in cash for the company. After 2025, it will become a much smaller part of the company, but it is still estimated to add another $830 million in cash over the life of the portfolio. Nelnet is using this cash stream to reinvest into its other businesses and return cash to shareholders through dividends (the stock currently yields a little over 1%) and share repurchases.\nEducation software and payments\nNelnet's second-largest business is Nelnet Business Services. This segment does tuition payment processing and software for administrative departments at K-12 schools and colleges and is growing at a steady clip. In 2020, NBS produced $66 million in operating income, and that was in a down year with COVID-19-related school closures and postponements. In the first half of this year, NBS had $48 million in operating income, giving the segment a 39% operating margin. Compare that to 2016, when NBS did $34 million in operating income for the full year. This segment is growing steadily for Nelnet and is likely on pace to blow by $100 million in annual operating profits within the next few years.\nOther investments\nNelnet has a lot of smaller businesses and investments that round out the company. One is its loan servicing business, which did $15 million in operating income last quarter. This business requires winning contracts from the federal government, and there is a risk Nelnet won't win future contracts and this entire segment will go away. But with two competitors calling it quits this year, and only Navient remaining as a scaled student loan servicer, it is unlikely that Nelnet will lose this business.\nIn 2020, Nelnet sold 48% of its stake in ALLO Communications, a broadband/fiber business, to SDC Capital Partners. Nelnet owns 45% of the business after the transaction, which is valued at $180 million. Under its venture arm, Nelnet owns 20% of sports highlights and film software company Hudl, which is sitting on its balance sheet at $78 million but would likely be worth many times that if Hudl started trading publicly today. Lastly, since 2013, Nelnet has invested $725 million into solar projects, real estate, and venture investments. All these projects are held at cost on Nelnet's balance sheet.\nValuation\nSo what's Nelnet worth to the market today? The measly sum of $3.1 billion. That's right, this group of high-quality businesses and a loan book that is guaranteed to spit out $1.39 billion in cash over the next five years can be bought for a market cap of $3.1 billion. Since Nelnet is anti-promotional (it doesn't do conference calls and rarely highlights its Hudl investment), it may take years for investors to realize the true value of this business, which will require patience.\nNelnet looks fantastically undervalued at the moment and is poised to provide market-beating returns for any investor planning to hold for a decade or longer.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":815265094,"gmtCreate":1630681382518,"gmtModify":1676530375976,"author":{"id":"3582792302450943","authorId":"3582792302450943","name":"Andrina22","avatar":"https://static.tigerbbs.com/d7443ac2c9a2303e0ac7b9dfb52abb42","vip":1,"crmLevel":3,"crmLevelSwitch":0},"htmlText":"Interesting&nbsp;","listText":"Interesting&nbsp;","text":"Interesting","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/815265094","repostId":2164874003,"repostType":4,"repost":{"id":"2164874003","pubTimestamp":1630674720,"share":"https://www.laohu8.com/m/news/2164874003?lang=&edition=full","pubTime":"2021-09-03 21:12","market":"us","language":"en","title":"This Baby Berkshire Just Hit an All-Time High -- Here's Why It's Still Undervalued","url":"https://stock-news.laohu8.com/highlight/detail?id=2164874003","media":"Motley Fool","summary":"It's not too late to get in on this conglomerate.","content":"<p>Buying into a well-run conglomerate can be incredibly rewarding. Not only can investors possibly beat the market (or at least put up quality returns) over the long haul, but they can do so with minimal effort, increasing the return on time spent. <b>Berkshire Hathaway</b>&nbsp;is the most famous modern conglomerate, run by <a href=\"https://laohu8.com/S/AONE.U\">one</a> of the most well-known investors ever: Warren Buffett.</p>\n<p>One smaller company with similar characteristics to Berkshire Hathaway is <b>Nelnet</b> (NYSE:NNI), a conglomerate focused on financial services based in Lincoln, Nebraska. The stock is currently trading around its all-time highs above $81 per share, but it's still cheap relative to the value of all its assets, providing a great buying opportunity for long-term investors.</p>\n<h2>Slowly melting loan book</h2>\n<p>Nelnet's legacy business is a book of around $20 billion in student loans. It was barred in 2010 from originating new loans when the federal government took the business in-house, but it still has an existing portfolio that will generate cash over the next decade. And the best part about this loan portfolio? Nelnet doesn't take on any material default risk, since all loans are backed by the U.S. government.</p>\n<p>At the end of the second quarter, Nelnet estimated that through 2025, including the last two quarters of this year, this loan book will generate $1.39 billion in cash for the company. After 2025, it will become a much smaller part of the company, but it is still estimated to add another $830 million in cash over the life of the portfolio. Nelnet is using this cash stream to reinvest into its other businesses and return cash to shareholders through dividends (the stock currently yields a little over 1%) and share repurchases.</p>\n<h2>Education software and payments</h2>\n<p>Nelnet's second-largest business is Nelnet Business Services. This segment does tuition payment processing and software for administrative departments at K-12 schools and colleges and is growing at a steady clip. In 2020, NBS produced $66 million in operating income, and that was in a down year with COVID-19-related school closures and postponements. In the first half of this year, NBS had $48 million in operating income, giving the segment a 39% operating margin. Compare that to 2016, when NBS did $34 million in operating income for the full year. This segment is growing steadily for Nelnet and is likely on pace to blow by $100 million in annual operating profits within the next few years.</p>\n<h2>Other investments</h2>\n<p>Nelnet has a lot of smaller businesses and investments that round out the company. One is its loan servicing business, which did $15 million in operating income last quarter. This business requires winning contracts from the federal government, and there is a risk Nelnet won't win future contracts and this entire segment will go away. But with two competitors calling it quits this year, and only <b>Navient</b>&nbsp;remaining as a scaled student loan servicer, it is unlikely that Nelnet will lose this business.</p>\n<p>In 2020, Nelnet sold 48% of its stake in ALLO Communications, a broadband/fiber business, to SDC Capital Partners. Nelnet owns 45% of the business after the transaction, which is valued at $180 million. Under its venture arm, Nelnet owns 20% of sports highlights and film software company Hudl, which is sitting on its balance sheet at $78 million but would likely be worth many times that if Hudl started trading publicly today. Lastly, since 2013, Nelnet has invested $725 million into solar projects, real estate, and venture investments. All these projects are held at cost on Nelnet's balance sheet.</p>\n<h2>Valuation</h2>\n<p>So what's Nelnet worth to the market today? The measly sum of $3.1 billion. That's right, this group of high-quality businesses and a loan book that is <i>guaranteed</i> to spit out $1.39 billion in cash over the next five years can be bought for a market cap of $3.1 billion. Since Nelnet is anti-promotional (it doesn't do conference calls and rarely highlights its Hudl investment), it may take years for investors to realize the true value of this business, which will require patience.</p>\n<p>Nelnet looks fantastically undervalued at the moment and is poised to provide market-beating returns for any investor planning to hold for a decade or longer.</p>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>This Baby Berkshire Just Hit an All-Time High -- Here's Why It's Still Undervalued</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThis Baby Berkshire Just Hit an All-Time High -- Here's Why It's Still Undervalued\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-03 21:12 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/09/03/baby-berkshire-nelnet-just-hit-an-all-time-high/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Buying into a well-run conglomerate can be incredibly rewarding. Not only can investors possibly beat the market (or at least put up quality returns) over the long haul, but they can do so with ...</p>\n\n<a href=\"https://www.fool.com/investing/2021/09/03/baby-berkshire-nelnet-just-hit-an-all-time-high/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BRK.A":"伯克希尔","BRK.B":"伯克希尔B"},"source_url":"https://www.fool.com/investing/2021/09/03/baby-berkshire-nelnet-just-hit-an-all-time-high/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2164874003","content_text":"Buying into a well-run conglomerate can be incredibly rewarding. Not only can investors possibly beat the market (or at least put up quality returns) over the long haul, but they can do so with minimal effort, increasing the return on time spent. Berkshire Hathaway is the most famous modern conglomerate, run by one of the most well-known investors ever: Warren Buffett.\nOne smaller company with similar characteristics to Berkshire Hathaway is Nelnet (NYSE:NNI), a conglomerate focused on financial services based in Lincoln, Nebraska. The stock is currently trading around its all-time highs above $81 per share, but it's still cheap relative to the value of all its assets, providing a great buying opportunity for long-term investors.\nSlowly melting loan book\nNelnet's legacy business is a book of around $20 billion in student loans. It was barred in 2010 from originating new loans when the federal government took the business in-house, but it still has an existing portfolio that will generate cash over the next decade. And the best part about this loan portfolio? Nelnet doesn't take on any material default risk, since all loans are backed by the U.S. government.\nAt the end of the second quarter, Nelnet estimated that through 2025, including the last two quarters of this year, this loan book will generate $1.39 billion in cash for the company. After 2025, it will become a much smaller part of the company, but it is still estimated to add another $830 million in cash over the life of the portfolio. Nelnet is using this cash stream to reinvest into its other businesses and return cash to shareholders through dividends (the stock currently yields a little over 1%) and share repurchases.\nEducation software and payments\nNelnet's second-largest business is Nelnet Business Services. This segment does tuition payment processing and software for administrative departments at K-12 schools and colleges and is growing at a steady clip. In 2020, NBS produced $66 million in operating income, and that was in a down year with COVID-19-related school closures and postponements. In the first half of this year, NBS had $48 million in operating income, giving the segment a 39% operating margin. Compare that to 2016, when NBS did $34 million in operating income for the full year. This segment is growing steadily for Nelnet and is likely on pace to blow by $100 million in annual operating profits within the next few years.\nOther investments\nNelnet has a lot of smaller businesses and investments that round out the company. One is its loan servicing business, which did $15 million in operating income last quarter. This business requires winning contracts from the federal government, and there is a risk Nelnet won't win future contracts and this entire segment will go away. But with two competitors calling it quits this year, and only Navient remaining as a scaled student loan servicer, it is unlikely that Nelnet will lose this business.\nIn 2020, Nelnet sold 48% of its stake in ALLO Communications, a broadband/fiber business, to SDC Capital Partners. Nelnet owns 45% of the business after the transaction, which is valued at $180 million. Under its venture arm, Nelnet owns 20% of sports highlights and film software company Hudl, which is sitting on its balance sheet at $78 million but would likely be worth many times that if Hudl started trading publicly today. Lastly, since 2013, Nelnet has invested $725 million into solar projects, real estate, and venture investments. All these projects are held at cost on Nelnet's balance sheet.\nValuation\nSo what's Nelnet worth to the market today? The measly sum of $3.1 billion. That's right, this group of high-quality businesses and a loan book that is guaranteed to spit out $1.39 billion in cash over the next five years can be bought for a market cap of $3.1 billion. Since Nelnet is anti-promotional (it doesn't do conference calls and rarely highlights its Hudl investment), it may take years for investors to realize the true value of this business, which will require patience.\nNelnet looks fantastically undervalued at the moment and is poised to provide market-beating returns for any investor planning to hold for a decade or longer.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":815622610,"gmtCreate":1630676801030,"gmtModify":1676530373688,"author":{"id":"3586430417918627","authorId":"3586430417918627","name":"Jedifruit","avatar":"https://static.tigerbbs.com/88435349bac72c663f520efd9d784d2c","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"Wow never heard of this&nbsp;","listText":"Wow never heard of this&nbsp;","text":"Wow never heard of this","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/815622610","repostId":2164874003,"repostType":4,"repost":{"id":"2164874003","pubTimestamp":1630674720,"share":"https://www.laohu8.com/m/news/2164874003?lang=&edition=full","pubTime":"2021-09-03 21:12","market":"us","language":"en","title":"This Baby Berkshire Just Hit an All-Time High -- Here's Why It's Still Undervalued","url":"https://stock-news.laohu8.com/highlight/detail?id=2164874003","media":"Motley Fool","summary":"It's not too late to get in on this conglomerate.","content":"<p>Buying into a well-run conglomerate can be incredibly rewarding. Not only can investors possibly beat the market (or at least put up quality returns) over the long haul, but they can do so with minimal effort, increasing the return on time spent. <b>Berkshire Hathaway</b>&nbsp;is the most famous modern conglomerate, run by <a href=\"https://laohu8.com/S/AONE.U\">one</a> of the most well-known investors ever: Warren Buffett.</p>\n<p>One smaller company with similar characteristics to Berkshire Hathaway is <b>Nelnet</b> (NYSE:NNI), a conglomerate focused on financial services based in Lincoln, Nebraska. The stock is currently trading around its all-time highs above $81 per share, but it's still cheap relative to the value of all its assets, providing a great buying opportunity for long-term investors.</p>\n<h2>Slowly melting loan book</h2>\n<p>Nelnet's legacy business is a book of around $20 billion in student loans. It was barred in 2010 from originating new loans when the federal government took the business in-house, but it still has an existing portfolio that will generate cash over the next decade. And the best part about this loan portfolio? Nelnet doesn't take on any material default risk, since all loans are backed by the U.S. government.</p>\n<p>At the end of the second quarter, Nelnet estimated that through 2025, including the last two quarters of this year, this loan book will generate $1.39 billion in cash for the company. After 2025, it will become a much smaller part of the company, but it is still estimated to add another $830 million in cash over the life of the portfolio. Nelnet is using this cash stream to reinvest into its other businesses and return cash to shareholders through dividends (the stock currently yields a little over 1%) and share repurchases.</p>\n<h2>Education software and payments</h2>\n<p>Nelnet's second-largest business is Nelnet Business Services. This segment does tuition payment processing and software for administrative departments at K-12 schools and colleges and is growing at a steady clip. In 2020, NBS produced $66 million in operating income, and that was in a down year with COVID-19-related school closures and postponements. In the first half of this year, NBS had $48 million in operating income, giving the segment a 39% operating margin. Compare that to 2016, when NBS did $34 million in operating income for the full year. This segment is growing steadily for Nelnet and is likely on pace to blow by $100 million in annual operating profits within the next few years.</p>\n<h2>Other investments</h2>\n<p>Nelnet has a lot of smaller businesses and investments that round out the company. One is its loan servicing business, which did $15 million in operating income last quarter. This business requires winning contracts from the federal government, and there is a risk Nelnet won't win future contracts and this entire segment will go away. But with two competitors calling it quits this year, and only <b>Navient</b>&nbsp;remaining as a scaled student loan servicer, it is unlikely that Nelnet will lose this business.</p>\n<p>In 2020, Nelnet sold 48% of its stake in ALLO Communications, a broadband/fiber business, to SDC Capital Partners. Nelnet owns 45% of the business after the transaction, which is valued at $180 million. Under its venture arm, Nelnet owns 20% of sports highlights and film software company Hudl, which is sitting on its balance sheet at $78 million but would likely be worth many times that if Hudl started trading publicly today. Lastly, since 2013, Nelnet has invested $725 million into solar projects, real estate, and venture investments. All these projects are held at cost on Nelnet's balance sheet.</p>\n<h2>Valuation</h2>\n<p>So what's Nelnet worth to the market today? The measly sum of $3.1 billion. That's right, this group of high-quality businesses and a loan book that is <i>guaranteed</i> to spit out $1.39 billion in cash over the next five years can be bought for a market cap of $3.1 billion. Since Nelnet is anti-promotional (it doesn't do conference calls and rarely highlights its Hudl investment), it may take years for investors to realize the true value of this business, which will require patience.</p>\n<p>Nelnet looks fantastically undervalued at the moment and is poised to provide market-beating returns for any investor planning to hold for a decade or longer.</p>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>This Baby Berkshire Just Hit an All-Time High -- Here's Why It's Still Undervalued</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThis Baby Berkshire Just Hit an All-Time High -- Here's Why It's Still Undervalued\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-03 21:12 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/09/03/baby-berkshire-nelnet-just-hit-an-all-time-high/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Buying into a well-run conglomerate can be incredibly rewarding. Not only can investors possibly beat the market (or at least put up quality returns) over the long haul, but they can do so with ...</p>\n\n<a href=\"https://www.fool.com/investing/2021/09/03/baby-berkshire-nelnet-just-hit-an-all-time-high/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BRK.A":"伯克希尔","BRK.B":"伯克希尔B"},"source_url":"https://www.fool.com/investing/2021/09/03/baby-berkshire-nelnet-just-hit-an-all-time-high/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2164874003","content_text":"Buying into a well-run conglomerate can be incredibly rewarding. Not only can investors possibly beat the market (or at least put up quality returns) over the long haul, but they can do so with minimal effort, increasing the return on time spent. Berkshire Hathaway is the most famous modern conglomerate, run by one of the most well-known investors ever: Warren Buffett.\nOne smaller company with similar characteristics to Berkshire Hathaway is Nelnet (NYSE:NNI), a conglomerate focused on financial services based in Lincoln, Nebraska. The stock is currently trading around its all-time highs above $81 per share, but it's still cheap relative to the value of all its assets, providing a great buying opportunity for long-term investors.\nSlowly melting loan book\nNelnet's legacy business is a book of around $20 billion in student loans. It was barred in 2010 from originating new loans when the federal government took the business in-house, but it still has an existing portfolio that will generate cash over the next decade. And the best part about this loan portfolio? Nelnet doesn't take on any material default risk, since all loans are backed by the U.S. government.\nAt the end of the second quarter, Nelnet estimated that through 2025, including the last two quarters of this year, this loan book will generate $1.39 billion in cash for the company. After 2025, it will become a much smaller part of the company, but it is still estimated to add another $830 million in cash over the life of the portfolio. Nelnet is using this cash stream to reinvest into its other businesses and return cash to shareholders through dividends (the stock currently yields a little over 1%) and share repurchases.\nEducation software and payments\nNelnet's second-largest business is Nelnet Business Services. This segment does tuition payment processing and software for administrative departments at K-12 schools and colleges and is growing at a steady clip. In 2020, NBS produced $66 million in operating income, and that was in a down year with COVID-19-related school closures and postponements. In the first half of this year, NBS had $48 million in operating income, giving the segment a 39% operating margin. Compare that to 2016, when NBS did $34 million in operating income for the full year. This segment is growing steadily for Nelnet and is likely on pace to blow by $100 million in annual operating profits within the next few years.\nOther investments\nNelnet has a lot of smaller businesses and investments that round out the company. One is its loan servicing business, which did $15 million in operating income last quarter. This business requires winning contracts from the federal government, and there is a risk Nelnet won't win future contracts and this entire segment will go away. But with two competitors calling it quits this year, and only Navient remaining as a scaled student loan servicer, it is unlikely that Nelnet will lose this business.\nIn 2020, Nelnet sold 48% of its stake in ALLO Communications, a broadband/fiber business, to SDC Capital Partners. Nelnet owns 45% of the business after the transaction, which is valued at $180 million. Under its venture arm, Nelnet owns 20% of sports highlights and film software company Hudl, which is sitting on its balance sheet at $78 million but would likely be worth many times that if Hudl started trading publicly today. Lastly, since 2013, Nelnet has invested $725 million into solar projects, real estate, and venture investments. All these projects are held at cost on Nelnet's balance sheet.\nValuation\nSo what's Nelnet worth to the market today? The measly sum of $3.1 billion. That's right, this group of high-quality businesses and a loan book that is guaranteed to spit out $1.39 billion in cash over the next five years can be bought for a market cap of $3.1 billion. Since Nelnet is anti-promotional (it doesn't do conference calls and rarely highlights its Hudl investment), it may take years for investors to realize the true value of this business, which will require patience.\nNelnet looks fantastically undervalued at the moment and is poised to provide market-beating returns for any investor planning to hold for a decade or longer.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":815664951,"gmtCreate":1630676452673,"gmtModify":1676530373482,"author":{"id":"3585365221281917","authorId":"3585365221281917","name":"lekwhee","avatar":"https://static.tigerbbs.com/127bed32219218143ddf636e98bca693","vip":1,"crmLevel":1,"crmLevelSwitch":0},"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/815664951","repostId":2164874003,"repostType":4,"repost":{"id":"2164874003","pubTimestamp":1630674720,"share":"https://www.laohu8.com/m/news/2164874003?lang=&edition=full","pubTime":"2021-09-03 21:12","market":"us","language":"en","title":"This Baby Berkshire Just Hit an All-Time High -- Here's Why It's Still Undervalued","url":"https://stock-news.laohu8.com/highlight/detail?id=2164874003","media":"Motley Fool","summary":"It's not too late to get in on this conglomerate.","content":"<p>Buying into a well-run conglomerate can be incredibly rewarding. Not only can investors possibly beat the market (or at least put up quality returns) over the long haul, but they can do so with minimal effort, increasing the return on time spent. <b>Berkshire Hathaway</b>&nbsp;is the most famous modern conglomerate, run by <a href=\"https://laohu8.com/S/AONE.U\">one</a> of the most well-known investors ever: Warren Buffett.</p>\n<p>One smaller company with similar characteristics to Berkshire Hathaway is <b>Nelnet</b> (NYSE:NNI), a conglomerate focused on financial services based in Lincoln, Nebraska. The stock is currently trading around its all-time highs above $81 per share, but it's still cheap relative to the value of all its assets, providing a great buying opportunity for long-term investors.</p>\n<h2>Slowly melting loan book</h2>\n<p>Nelnet's legacy business is a book of around $20 billion in student loans. It was barred in 2010 from originating new loans when the federal government took the business in-house, but it still has an existing portfolio that will generate cash over the next decade. And the best part about this loan portfolio? Nelnet doesn't take on any material default risk, since all loans are backed by the U.S. government.</p>\n<p>At the end of the second quarter, Nelnet estimated that through 2025, including the last two quarters of this year, this loan book will generate $1.39 billion in cash for the company. After 2025, it will become a much smaller part of the company, but it is still estimated to add another $830 million in cash over the life of the portfolio. Nelnet is using this cash stream to reinvest into its other businesses and return cash to shareholders through dividends (the stock currently yields a little over 1%) and share repurchases.</p>\n<h2>Education software and payments</h2>\n<p>Nelnet's second-largest business is Nelnet Business Services. This segment does tuition payment processing and software for administrative departments at K-12 schools and colleges and is growing at a steady clip. In 2020, NBS produced $66 million in operating income, and that was in a down year with COVID-19-related school closures and postponements. In the first half of this year, NBS had $48 million in operating income, giving the segment a 39% operating margin. Compare that to 2016, when NBS did $34 million in operating income for the full year. This segment is growing steadily for Nelnet and is likely on pace to blow by $100 million in annual operating profits within the next few years.</p>\n<h2>Other investments</h2>\n<p>Nelnet has a lot of smaller businesses and investments that round out the company. One is its loan servicing business, which did $15 million in operating income last quarter. This business requires winning contracts from the federal government, and there is a risk Nelnet won't win future contracts and this entire segment will go away. But with two competitors calling it quits this year, and only <b>Navient</b>&nbsp;remaining as a scaled student loan servicer, it is unlikely that Nelnet will lose this business.</p>\n<p>In 2020, Nelnet sold 48% of its stake in ALLO Communications, a broadband/fiber business, to SDC Capital Partners. Nelnet owns 45% of the business after the transaction, which is valued at $180 million. Under its venture arm, Nelnet owns 20% of sports highlights and film software company Hudl, which is sitting on its balance sheet at $78 million but would likely be worth many times that if Hudl started trading publicly today. Lastly, since 2013, Nelnet has invested $725 million into solar projects, real estate, and venture investments. All these projects are held at cost on Nelnet's balance sheet.</p>\n<h2>Valuation</h2>\n<p>So what's Nelnet worth to the market today? The measly sum of $3.1 billion. That's right, this group of high-quality businesses and a loan book that is <i>guaranteed</i> to spit out $1.39 billion in cash over the next five years can be bought for a market cap of $3.1 billion. Since Nelnet is anti-promotional (it doesn't do conference calls and rarely highlights its Hudl investment), it may take years for investors to realize the true value of this business, which will require patience.</p>\n<p>Nelnet looks fantastically undervalued at the moment and is poised to provide market-beating returns for any investor planning to hold for a decade or longer.</p>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>This Baby Berkshire Just Hit an All-Time High -- Here's Why It's Still Undervalued</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThis Baby Berkshire Just Hit an All-Time High -- Here's Why It's Still Undervalued\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-03 21:12 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/09/03/baby-berkshire-nelnet-just-hit-an-all-time-high/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Buying into a well-run conglomerate can be incredibly rewarding. Not only can investors possibly beat the market (or at least put up quality returns) over the long haul, but they can do so with ...</p>\n\n<a href=\"https://www.fool.com/investing/2021/09/03/baby-berkshire-nelnet-just-hit-an-all-time-high/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BRK.A":"伯克希尔","BRK.B":"伯克希尔B"},"source_url":"https://www.fool.com/investing/2021/09/03/baby-berkshire-nelnet-just-hit-an-all-time-high/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2164874003","content_text":"Buying into a well-run conglomerate can be incredibly rewarding. Not only can investors possibly beat the market (or at least put up quality returns) over the long haul, but they can do so with minimal effort, increasing the return on time spent. Berkshire Hathaway is the most famous modern conglomerate, run by one of the most well-known investors ever: Warren Buffett.\nOne smaller company with similar characteristics to Berkshire Hathaway is Nelnet (NYSE:NNI), a conglomerate focused on financial services based in Lincoln, Nebraska. The stock is currently trading around its all-time highs above $81 per share, but it's still cheap relative to the value of all its assets, providing a great buying opportunity for long-term investors.\nSlowly melting loan book\nNelnet's legacy business is a book of around $20 billion in student loans. It was barred in 2010 from originating new loans when the federal government took the business in-house, but it still has an existing portfolio that will generate cash over the next decade. And the best part about this loan portfolio? Nelnet doesn't take on any material default risk, since all loans are backed by the U.S. government.\nAt the end of the second quarter, Nelnet estimated that through 2025, including the last two quarters of this year, this loan book will generate $1.39 billion in cash for the company. After 2025, it will become a much smaller part of the company, but it is still estimated to add another $830 million in cash over the life of the portfolio. Nelnet is using this cash stream to reinvest into its other businesses and return cash to shareholders through dividends (the stock currently yields a little over 1%) and share repurchases.\nEducation software and payments\nNelnet's second-largest business is Nelnet Business Services. This segment does tuition payment processing and software for administrative departments at K-12 schools and colleges and is growing at a steady clip. In 2020, NBS produced $66 million in operating income, and that was in a down year with COVID-19-related school closures and postponements. In the first half of this year, NBS had $48 million in operating income, giving the segment a 39% operating margin. Compare that to 2016, when NBS did $34 million in operating income for the full year. This segment is growing steadily for Nelnet and is likely on pace to blow by $100 million in annual operating profits within the next few years.\nOther investments\nNelnet has a lot of smaller businesses and investments that round out the company. One is its loan servicing business, which did $15 million in operating income last quarter. This business requires winning contracts from the federal government, and there is a risk Nelnet won't win future contracts and this entire segment will go away. But with two competitors calling it quits this year, and only Navient remaining as a scaled student loan servicer, it is unlikely that Nelnet will lose this business.\nIn 2020, Nelnet sold 48% of its stake in ALLO Communications, a broadband/fiber business, to SDC Capital Partners. Nelnet owns 45% of the business after the transaction, which is valued at $180 million. Under its venture arm, Nelnet owns 20% of sports highlights and film software company Hudl, which is sitting on its balance sheet at $78 million but would likely be worth many times that if Hudl started trading publicly today. Lastly, since 2013, Nelnet has invested $725 million into solar projects, real estate, and venture investments. All these projects are held at cost on Nelnet's balance sheet.\nValuation\nSo what's Nelnet worth to the market today? The measly sum of $3.1 billion. That's right, this group of high-quality businesses and a loan book that is guaranteed to spit out $1.39 billion in cash over the next five years can be bought for a market cap of $3.1 billion. Since Nelnet is anti-promotional (it doesn't do conference calls and rarely highlights its Hudl investment), it may take years for investors to realize the true value of this business, which will require patience.\nNelnet looks fantastically undervalued at the moment and is poised to provide market-beating returns for any investor planning to hold for a decade or longer.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":815668874,"gmtCreate":1630676226498,"gmtModify":1676530373325,"author":{"id":"4089010991436220","authorId":"4089010991436220","name":"richcat","avatar":"https://static.tigerbbs.com/68e4b3561331a0d9fe709291122e6cea","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"Gogogo","listText":"Gogogo","text":"Gogogo","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/815668874","repostId":2164874003,"repostType":4,"repost":{"id":"2164874003","pubTimestamp":1630674720,"share":"https://www.laohu8.com/m/news/2164874003?lang=&edition=full","pubTime":"2021-09-03 21:12","market":"us","language":"en","title":"This Baby Berkshire Just Hit an All-Time High -- Here's Why It's Still Undervalued","url":"https://stock-news.laohu8.com/highlight/detail?id=2164874003","media":"Motley Fool","summary":"It's not too late to get in on this conglomerate.","content":"<p>Buying into a well-run conglomerate can be incredibly rewarding. Not only can investors possibly beat the market (or at least put up quality returns) over the long haul, but they can do so with minimal effort, increasing the return on time spent. <b>Berkshire Hathaway</b>&nbsp;is the most famous modern conglomerate, run by <a href=\"https://laohu8.com/S/AONE.U\">one</a> of the most well-known investors ever: Warren Buffett.</p>\n<p>One smaller company with similar characteristics to Berkshire Hathaway is <b>Nelnet</b> (NYSE:NNI), a conglomerate focused on financial services based in Lincoln, Nebraska. The stock is currently trading around its all-time highs above $81 per share, but it's still cheap relative to the value of all its assets, providing a great buying opportunity for long-term investors.</p>\n<h2>Slowly melting loan book</h2>\n<p>Nelnet's legacy business is a book of around $20 billion in student loans. It was barred in 2010 from originating new loans when the federal government took the business in-house, but it still has an existing portfolio that will generate cash over the next decade. And the best part about this loan portfolio? Nelnet doesn't take on any material default risk, since all loans are backed by the U.S. government.</p>\n<p>At the end of the second quarter, Nelnet estimated that through 2025, including the last two quarters of this year, this loan book will generate $1.39 billion in cash for the company. After 2025, it will become a much smaller part of the company, but it is still estimated to add another $830 million in cash over the life of the portfolio. Nelnet is using this cash stream to reinvest into its other businesses and return cash to shareholders through dividends (the stock currently yields a little over 1%) and share repurchases.</p>\n<h2>Education software and payments</h2>\n<p>Nelnet's second-largest business is Nelnet Business Services. This segment does tuition payment processing and software for administrative departments at K-12 schools and colleges and is growing at a steady clip. In 2020, NBS produced $66 million in operating income, and that was in a down year with COVID-19-related school closures and postponements. In the first half of this year, NBS had $48 million in operating income, giving the segment a 39% operating margin. Compare that to 2016, when NBS did $34 million in operating income for the full year. This segment is growing steadily for Nelnet and is likely on pace to blow by $100 million in annual operating profits within the next few years.</p>\n<h2>Other investments</h2>\n<p>Nelnet has a lot of smaller businesses and investments that round out the company. One is its loan servicing business, which did $15 million in operating income last quarter. This business requires winning contracts from the federal government, and there is a risk Nelnet won't win future contracts and this entire segment will go away. But with two competitors calling it quits this year, and only <b>Navient</b>&nbsp;remaining as a scaled student loan servicer, it is unlikely that Nelnet will lose this business.</p>\n<p>In 2020, Nelnet sold 48% of its stake in ALLO Communications, a broadband/fiber business, to SDC Capital Partners. Nelnet owns 45% of the business after the transaction, which is valued at $180 million. Under its venture arm, Nelnet owns 20% of sports highlights and film software company Hudl, which is sitting on its balance sheet at $78 million but would likely be worth many times that if Hudl started trading publicly today. Lastly, since 2013, Nelnet has invested $725 million into solar projects, real estate, and venture investments. All these projects are held at cost on Nelnet's balance sheet.</p>\n<h2>Valuation</h2>\n<p>So what's Nelnet worth to the market today? The measly sum of $3.1 billion. That's right, this group of high-quality businesses and a loan book that is <i>guaranteed</i> to spit out $1.39 billion in cash over the next five years can be bought for a market cap of $3.1 billion. Since Nelnet is anti-promotional (it doesn't do conference calls and rarely highlights its Hudl investment), it may take years for investors to realize the true value of this business, which will require patience.</p>\n<p>Nelnet looks fantastically undervalued at the moment and is poised to provide market-beating returns for any investor planning to hold for a decade or longer.</p>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>This Baby Berkshire Just Hit an All-Time High -- Here's Why It's Still Undervalued</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThis Baby Berkshire Just Hit an All-Time High -- Here's Why It's Still Undervalued\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-03 21:12 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/09/03/baby-berkshire-nelnet-just-hit-an-all-time-high/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Buying into a well-run conglomerate can be incredibly rewarding. Not only can investors possibly beat the market (or at least put up quality returns) over the long haul, but they can do so with ...</p>\n\n<a href=\"https://www.fool.com/investing/2021/09/03/baby-berkshire-nelnet-just-hit-an-all-time-high/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BRK.A":"伯克希尔","BRK.B":"伯克希尔B"},"source_url":"https://www.fool.com/investing/2021/09/03/baby-berkshire-nelnet-just-hit-an-all-time-high/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2164874003","content_text":"Buying into a well-run conglomerate can be incredibly rewarding. Not only can investors possibly beat the market (or at least put up quality returns) over the long haul, but they can do so with minimal effort, increasing the return on time spent. Berkshire Hathaway is the most famous modern conglomerate, run by one of the most well-known investors ever: Warren Buffett.\nOne smaller company with similar characteristics to Berkshire Hathaway is Nelnet (NYSE:NNI), a conglomerate focused on financial services based in Lincoln, Nebraska. The stock is currently trading around its all-time highs above $81 per share, but it's still cheap relative to the value of all its assets, providing a great buying opportunity for long-term investors.\nSlowly melting loan book\nNelnet's legacy business is a book of around $20 billion in student loans. It was barred in 2010 from originating new loans when the federal government took the business in-house, but it still has an existing portfolio that will generate cash over the next decade. And the best part about this loan portfolio? Nelnet doesn't take on any material default risk, since all loans are backed by the U.S. government.\nAt the end of the second quarter, Nelnet estimated that through 2025, including the last two quarters of this year, this loan book will generate $1.39 billion in cash for the company. After 2025, it will become a much smaller part of the company, but it is still estimated to add another $830 million in cash over the life of the portfolio. Nelnet is using this cash stream to reinvest into its other businesses and return cash to shareholders through dividends (the stock currently yields a little over 1%) and share repurchases.\nEducation software and payments\nNelnet's second-largest business is Nelnet Business Services. This segment does tuition payment processing and software for administrative departments at K-12 schools and colleges and is growing at a steady clip. In 2020, NBS produced $66 million in operating income, and that was in a down year with COVID-19-related school closures and postponements. In the first half of this year, NBS had $48 million in operating income, giving the segment a 39% operating margin. Compare that to 2016, when NBS did $34 million in operating income for the full year. This segment is growing steadily for Nelnet and is likely on pace to blow by $100 million in annual operating profits within the next few years.\nOther investments\nNelnet has a lot of smaller businesses and investments that round out the company. One is its loan servicing business, which did $15 million in operating income last quarter. This business requires winning contracts from the federal government, and there is a risk Nelnet won't win future contracts and this entire segment will go away. But with two competitors calling it quits this year, and only Navient remaining as a scaled student loan servicer, it is unlikely that Nelnet will lose this business.\nIn 2020, Nelnet sold 48% of its stake in ALLO Communications, a broadband/fiber business, to SDC Capital Partners. Nelnet owns 45% of the business after the transaction, which is valued at $180 million. Under its venture arm, Nelnet owns 20% of sports highlights and film software company Hudl, which is sitting on its balance sheet at $78 million but would likely be worth many times that if Hudl started trading publicly today. Lastly, since 2013, Nelnet has invested $725 million into solar projects, real estate, and venture investments. All these projects are held at cost on Nelnet's balance sheet.\nValuation\nSo what's Nelnet worth to the market today? The measly sum of $3.1 billion. That's right, this group of high-quality businesses and a loan book that is guaranteed to spit out $1.39 billion in cash over the next five years can be bought for a market cap of $3.1 billion. Since Nelnet is anti-promotional (it doesn't do conference calls and rarely highlights its Hudl investment), it may take years for investors to realize the true value of this business, which will require patience.\nNelnet looks fantastically undervalued at the moment and is poised to provide market-beating returns for any investor planning to hold for a decade or longer.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5743169,"gmtCreate":1630676422804,"gmtModify":1663233342343,"authorId":3554294506154172,"author":{"id":3554294506154172,"authorId":3554294506154172,"name":"leoworm","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":815668874,"type":1,"supId":0,"prevId":0,"content":"Good","text":"Good","html":"Good"},{"id":5743125,"gmtCreate":1630676281429,"gmtModify":1663233341627,"authorId":3574299068791767,"author":{"id":3574299068791767,"authorId":3574299068791767,"name":"Abcdefgg","avatar":"https://community-static.tradeup.com/news/645948bcf5704d317bf815cb4a72172e","vip":1,"crmLevel":3,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":815668874,"type":1,"supId":0,"prevId":0,"content":"After he is gone?","text":"After he is gone?","html":"After he is gone?"}],"langContent":"EN"},{"id":815681831,"gmtCreate":1630675692423,"gmtModify":1676530373086,"author":{"id":"3565560849516206","authorId":"3565560849516206","name":"被幸福敲了门的人","avatar":"https://static.tigerbbs.com/364d8f8a1793db9e530ae96c23e25482","vip":1,"crmLevel":1,"crmLevelSwitch":0},"htmlText":"哈哈哈","listText":"哈哈哈","text":"哈哈哈","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/815681831","repostId":2164874003,"repostType":2,"repost":{"id":"2164874003","pubTimestamp":1630674720,"share":"https://www.laohu8.com/m/news/2164874003?lang=&edition=full","pubTime":"2021-09-03 21:12","market":"us","language":"en","title":"This Baby Berkshire Just Hit an All-Time High -- Here's Why It's Still Undervalued","url":"https://stock-news.laohu8.com/highlight/detail?id=2164874003","media":"Motley Fool","summary":"It's not too late to get in on this conglomerate.","content":"<p>Buying into a well-run conglomerate can be incredibly rewarding. Not only can investors possibly beat the market (or at least put up quality returns) over the long haul, but they can do so with minimal effort, increasing the return on time spent. <b>Berkshire Hathaway</b>&nbsp;is the most famous modern conglomerate, run by <a href=\"https://laohu8.com/S/AONE.U\">one</a> of the most well-known investors ever: Warren Buffett.</p>\n<p>One smaller company with similar characteristics to Berkshire Hathaway is <b>Nelnet</b> (NYSE:NNI), a conglomerate focused on financial services based in Lincoln, Nebraska. The stock is currently trading around its all-time highs above $81 per share, but it's still cheap relative to the value of all its assets, providing a great buying opportunity for long-term investors.</p>\n<h2>Slowly melting loan book</h2>\n<p>Nelnet's legacy business is a book of around $20 billion in student loans. It was barred in 2010 from originating new loans when the federal government took the business in-house, but it still has an existing portfolio that will generate cash over the next decade. And the best part about this loan portfolio? Nelnet doesn't take on any material default risk, since all loans are backed by the U.S. government.</p>\n<p>At the end of the second quarter, Nelnet estimated that through 2025, including the last two quarters of this year, this loan book will generate $1.39 billion in cash for the company. After 2025, it will become a much smaller part of the company, but it is still estimated to add another $830 million in cash over the life of the portfolio. Nelnet is using this cash stream to reinvest into its other businesses and return cash to shareholders through dividends (the stock currently yields a little over 1%) and share repurchases.</p>\n<h2>Education software and payments</h2>\n<p>Nelnet's second-largest business is Nelnet Business Services. This segment does tuition payment processing and software for administrative departments at K-12 schools and colleges and is growing at a steady clip. In 2020, NBS produced $66 million in operating income, and that was in a down year with COVID-19-related school closures and postponements. In the first half of this year, NBS had $48 million in operating income, giving the segment a 39% operating margin. Compare that to 2016, when NBS did $34 million in operating income for the full year. This segment is growing steadily for Nelnet and is likely on pace to blow by $100 million in annual operating profits within the next few years.</p>\n<h2>Other investments</h2>\n<p>Nelnet has a lot of smaller businesses and investments that round out the company. One is its loan servicing business, which did $15 million in operating income last quarter. This business requires winning contracts from the federal government, and there is a risk Nelnet won't win future contracts and this entire segment will go away. But with two competitors calling it quits this year, and only <b>Navient</b>&nbsp;remaining as a scaled student loan servicer, it is unlikely that Nelnet will lose this business.</p>\n<p>In 2020, Nelnet sold 48% of its stake in ALLO Communications, a broadband/fiber business, to SDC Capital Partners. Nelnet owns 45% of the business after the transaction, which is valued at $180 million. Under its venture arm, Nelnet owns 20% of sports highlights and film software company Hudl, which is sitting on its balance sheet at $78 million but would likely be worth many times that if Hudl started trading publicly today. Lastly, since 2013, Nelnet has invested $725 million into solar projects, real estate, and venture investments. All these projects are held at cost on Nelnet's balance sheet.</p>\n<h2>Valuation</h2>\n<p>So what's Nelnet worth to the market today? The measly sum of $3.1 billion. That's right, this group of high-quality businesses and a loan book that is <i>guaranteed</i> to spit out $1.39 billion in cash over the next five years can be bought for a market cap of $3.1 billion. Since Nelnet is anti-promotional (it doesn't do conference calls and rarely highlights its Hudl investment), it may take years for investors to realize the true value of this business, which will require patience.</p>\n<p>Nelnet looks fantastically undervalued at the moment and is poised to provide market-beating returns for any investor planning to hold for a decade or longer.</p>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>This Baby Berkshire Just Hit an All-Time High -- Here's Why It's Still Undervalued</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThis Baby Berkshire Just Hit an All-Time High -- Here's Why It's Still Undervalued\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-03 21:12 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/09/03/baby-berkshire-nelnet-just-hit-an-all-time-high/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Buying into a well-run conglomerate can be incredibly rewarding. Not only can investors possibly beat the market (or at least put up quality returns) over the long haul, but they can do so with ...</p>\n\n<a href=\"https://www.fool.com/investing/2021/09/03/baby-berkshire-nelnet-just-hit-an-all-time-high/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BRK.A":"伯克希尔","BRK.B":"伯克希尔B"},"source_url":"https://www.fool.com/investing/2021/09/03/baby-berkshire-nelnet-just-hit-an-all-time-high/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2164874003","content_text":"Buying into a well-run conglomerate can be incredibly rewarding. Not only can investors possibly beat the market (or at least put up quality returns) over the long haul, but they can do so with minimal effort, increasing the return on time spent. Berkshire Hathaway is the most famous modern conglomerate, run by one of the most well-known investors ever: Warren Buffett.\nOne smaller company with similar characteristics to Berkshire Hathaway is Nelnet (NYSE:NNI), a conglomerate focused on financial services based in Lincoln, Nebraska. The stock is currently trading around its all-time highs above $81 per share, but it's still cheap relative to the value of all its assets, providing a great buying opportunity for long-term investors.\nSlowly melting loan book\nNelnet's legacy business is a book of around $20 billion in student loans. It was barred in 2010 from originating new loans when the federal government took the business in-house, but it still has an existing portfolio that will generate cash over the next decade. And the best part about this loan portfolio? Nelnet doesn't take on any material default risk, since all loans are backed by the U.S. government.\nAt the end of the second quarter, Nelnet estimated that through 2025, including the last two quarters of this year, this loan book will generate $1.39 billion in cash for the company. After 2025, it will become a much smaller part of the company, but it is still estimated to add another $830 million in cash over the life of the portfolio. Nelnet is using this cash stream to reinvest into its other businesses and return cash to shareholders through dividends (the stock currently yields a little over 1%) and share repurchases.\nEducation software and payments\nNelnet's second-largest business is Nelnet Business Services. This segment does tuition payment processing and software for administrative departments at K-12 schools and colleges and is growing at a steady clip. In 2020, NBS produced $66 million in operating income, and that was in a down year with COVID-19-related school closures and postponements. In the first half of this year, NBS had $48 million in operating income, giving the segment a 39% operating margin. Compare that to 2016, when NBS did $34 million in operating income for the full year. This segment is growing steadily for Nelnet and is likely on pace to blow by $100 million in annual operating profits within the next few years.\nOther investments\nNelnet has a lot of smaller businesses and investments that round out the company. One is its loan servicing business, which did $15 million in operating income last quarter. This business requires winning contracts from the federal government, and there is a risk Nelnet won't win future contracts and this entire segment will go away. But with two competitors calling it quits this year, and only Navient remaining as a scaled student loan servicer, it is unlikely that Nelnet will lose this business.\nIn 2020, Nelnet sold 48% of its stake in ALLO Communications, a broadband/fiber business, to SDC Capital Partners. Nelnet owns 45% of the business after the transaction, which is valued at $180 million. Under its venture arm, Nelnet owns 20% of sports highlights and film software company Hudl, which is sitting on its balance sheet at $78 million but would likely be worth many times that if Hudl started trading publicly today. Lastly, since 2013, Nelnet has invested $725 million into solar projects, real estate, and venture investments. All these projects are held at cost on Nelnet's balance sheet.\nValuation\nSo what's Nelnet worth to the market today? The measly sum of $3.1 billion. That's right, this group of high-quality businesses and a loan book that is guaranteed to spit out $1.39 billion in cash over the next five years can be bought for a market cap of $3.1 billion. Since Nelnet is anti-promotional (it doesn't do conference calls and rarely highlights its Hudl investment), it may take years for investors to realize the true value of this business, which will require patience.\nNelnet looks fantastically undervalued at the moment and is poised to provide market-beating returns for any investor planning to hold for a decade or longer.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":815689625,"gmtCreate":1630675511967,"gmtModify":1676530373033,"author":{"id":"3573553598754980","authorId":"3573553598754980","name":"diamondHands","avatar":"https://static.tigerbbs.com/dc04e09561a7a5cf929c1ad9f33b1d82","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"Like please","listText":"Like please","text":"Like please","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/815689625","repostId":2164874003,"repostType":4,"repost":{"id":"2164874003","pubTimestamp":1630674720,"share":"https://www.laohu8.com/m/news/2164874003?lang=&edition=full","pubTime":"2021-09-03 21:12","market":"us","language":"en","title":"This Baby Berkshire Just Hit an All-Time High -- Here's Why It's Still Undervalued","url":"https://stock-news.laohu8.com/highlight/detail?id=2164874003","media":"Motley Fool","summary":"It's not too late to get in on this conglomerate.","content":"<p>Buying into a well-run conglomerate can be incredibly rewarding. Not only can investors possibly beat the market (or at least put up quality returns) over the long haul, but they can do so with minimal effort, increasing the return on time spent. <b>Berkshire Hathaway</b>&nbsp;is the most famous modern conglomerate, run by <a href=\"https://laohu8.com/S/AONE.U\">one</a> of the most well-known investors ever: Warren Buffett.</p>\n<p>One smaller company with similar characteristics to Berkshire Hathaway is <b>Nelnet</b> (NYSE:NNI), a conglomerate focused on financial services based in Lincoln, Nebraska. The stock is currently trading around its all-time highs above $81 per share, but it's still cheap relative to the value of all its assets, providing a great buying opportunity for long-term investors.</p>\n<h2>Slowly melting loan book</h2>\n<p>Nelnet's legacy business is a book of around $20 billion in student loans. It was barred in 2010 from originating new loans when the federal government took the business in-house, but it still has an existing portfolio that will generate cash over the next decade. And the best part about this loan portfolio? Nelnet doesn't take on any material default risk, since all loans are backed by the U.S. government.</p>\n<p>At the end of the second quarter, Nelnet estimated that through 2025, including the last two quarters of this year, this loan book will generate $1.39 billion in cash for the company. After 2025, it will become a much smaller part of the company, but it is still estimated to add another $830 million in cash over the life of the portfolio. Nelnet is using this cash stream to reinvest into its other businesses and return cash to shareholders through dividends (the stock currently yields a little over 1%) and share repurchases.</p>\n<h2>Education software and payments</h2>\n<p>Nelnet's second-largest business is Nelnet Business Services. This segment does tuition payment processing and software for administrative departments at K-12 schools and colleges and is growing at a steady clip. In 2020, NBS produced $66 million in operating income, and that was in a down year with COVID-19-related school closures and postponements. In the first half of this year, NBS had $48 million in operating income, giving the segment a 39% operating margin. Compare that to 2016, when NBS did $34 million in operating income for the full year. This segment is growing steadily for Nelnet and is likely on pace to blow by $100 million in annual operating profits within the next few years.</p>\n<h2>Other investments</h2>\n<p>Nelnet has a lot of smaller businesses and investments that round out the company. One is its loan servicing business, which did $15 million in operating income last quarter. This business requires winning contracts from the federal government, and there is a risk Nelnet won't win future contracts and this entire segment will go away. But with two competitors calling it quits this year, and only <b>Navient</b>&nbsp;remaining as a scaled student loan servicer, it is unlikely that Nelnet will lose this business.</p>\n<p>In 2020, Nelnet sold 48% of its stake in ALLO Communications, a broadband/fiber business, to SDC Capital Partners. Nelnet owns 45% of the business after the transaction, which is valued at $180 million. Under its venture arm, Nelnet owns 20% of sports highlights and film software company Hudl, which is sitting on its balance sheet at $78 million but would likely be worth many times that if Hudl started trading publicly today. Lastly, since 2013, Nelnet has invested $725 million into solar projects, real estate, and venture investments. All these projects are held at cost on Nelnet's balance sheet.</p>\n<h2>Valuation</h2>\n<p>So what's Nelnet worth to the market today? The measly sum of $3.1 billion. That's right, this group of high-quality businesses and a loan book that is <i>guaranteed</i> to spit out $1.39 billion in cash over the next five years can be bought for a market cap of $3.1 billion. Since Nelnet is anti-promotional (it doesn't do conference calls and rarely highlights its Hudl investment), it may take years for investors to realize the true value of this business, which will require patience.</p>\n<p>Nelnet looks fantastically undervalued at the moment and is poised to provide market-beating returns for any investor planning to hold for a decade or longer.</p>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>This Baby Berkshire Just Hit an All-Time High -- Here's Why It's Still Undervalued</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThis Baby Berkshire Just Hit an All-Time High -- Here's Why It's Still Undervalued\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-03 21:12 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/09/03/baby-berkshire-nelnet-just-hit-an-all-time-high/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Buying into a well-run conglomerate can be incredibly rewarding. Not only can investors possibly beat the market (or at least put up quality returns) over the long haul, but they can do so with ...</p>\n\n<a href=\"https://www.fool.com/investing/2021/09/03/baby-berkshire-nelnet-just-hit-an-all-time-high/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BRK.A":"伯克希尔","BRK.B":"伯克希尔B"},"source_url":"https://www.fool.com/investing/2021/09/03/baby-berkshire-nelnet-just-hit-an-all-time-high/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2164874003","content_text":"Buying into a well-run conglomerate can be incredibly rewarding. Not only can investors possibly beat the market (or at least put up quality returns) over the long haul, but they can do so with minimal effort, increasing the return on time spent. Berkshire Hathaway is the most famous modern conglomerate, run by one of the most well-known investors ever: Warren Buffett.\nOne smaller company with similar characteristics to Berkshire Hathaway is Nelnet (NYSE:NNI), a conglomerate focused on financial services based in Lincoln, Nebraska. The stock is currently trading around its all-time highs above $81 per share, but it's still cheap relative to the value of all its assets, providing a great buying opportunity for long-term investors.\nSlowly melting loan book\nNelnet's legacy business is a book of around $20 billion in student loans. It was barred in 2010 from originating new loans when the federal government took the business in-house, but it still has an existing portfolio that will generate cash over the next decade. And the best part about this loan portfolio? Nelnet doesn't take on any material default risk, since all loans are backed by the U.S. government.\nAt the end of the second quarter, Nelnet estimated that through 2025, including the last two quarters of this year, this loan book will generate $1.39 billion in cash for the company. After 2025, it will become a much smaller part of the company, but it is still estimated to add another $830 million in cash over the life of the portfolio. Nelnet is using this cash stream to reinvest into its other businesses and return cash to shareholders through dividends (the stock currently yields a little over 1%) and share repurchases.\nEducation software and payments\nNelnet's second-largest business is Nelnet Business Services. This segment does tuition payment processing and software for administrative departments at K-12 schools and colleges and is growing at a steady clip. In 2020, NBS produced $66 million in operating income, and that was in a down year with COVID-19-related school closures and postponements. In the first half of this year, NBS had $48 million in operating income, giving the segment a 39% operating margin. Compare that to 2016, when NBS did $34 million in operating income for the full year. This segment is growing steadily for Nelnet and is likely on pace to blow by $100 million in annual operating profits within the next few years.\nOther investments\nNelnet has a lot of smaller businesses and investments that round out the company. One is its loan servicing business, which did $15 million in operating income last quarter. This business requires winning contracts from the federal government, and there is a risk Nelnet won't win future contracts and this entire segment will go away. But with two competitors calling it quits this year, and only Navient remaining as a scaled student loan servicer, it is unlikely that Nelnet will lose this business.\nIn 2020, Nelnet sold 48% of its stake in ALLO Communications, a broadband/fiber business, to SDC Capital Partners. Nelnet owns 45% of the business after the transaction, which is valued at $180 million. Under its venture arm, Nelnet owns 20% of sports highlights and film software company Hudl, which is sitting on its balance sheet at $78 million but would likely be worth many times that if Hudl started trading publicly today. Lastly, since 2013, Nelnet has invested $725 million into solar projects, real estate, and venture investments. All these projects are held at cost on Nelnet's balance sheet.\nValuation\nSo what's Nelnet worth to the market today? The measly sum of $3.1 billion. That's right, this group of high-quality businesses and a loan book that is guaranteed to spit out $1.39 billion in cash over the next five years can be bought for a market cap of $3.1 billion. Since Nelnet is anti-promotional (it doesn't do conference calls and rarely highlights its Hudl investment), it may take years for investors to realize the true value of this business, which will require patience.\nNelnet looks fantastically undervalued at the moment and is poised to provide market-beating returns for any investor planning to hold for a decade or longer.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5743646,"gmtCreate":1630678652885,"gmtModify":1663233345732,"authorId":3566113286181493,"author":{"id":3566113286181493,"authorId":3566113286181493,"name":"WaiT","avatar":"https://static.tigerbbs.com/95e483a63eb4a16bf1bfd465b89d28b1","vip":1,"crmLevel":3,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":815689625,"type":1,"supId":0,"prevId":0,"content":"Ok","text":"Ok","html":"Ok"},{"id":5743118,"gmtCreate":1630676238703,"gmtModify":1663233341545,"authorId":4089010991436220,"author":{"id":4089010991436220,"authorId":4089010991436220,"name":"richcat","avatar":"https://static.tigerbbs.com/68e4b3561331a0d9fe709291122e6cea","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":815689625,"type":1,"supId":0,"prevId":0,"content":"Like and comment","text":"Like and comment","html":"Like and comment"},{"id":5743101,"gmtCreate":1630676193049,"gmtModify":1663233341446,"authorId":3575960528012254,"author":{"id":3575960528012254,"authorId":3575960528012254,"name":"AntonyGeorge","avatar":"https://static.tigerbbs.com/42c9567b5a3657003840b0dc4fcee15c","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":815689625,"type":1,"supId":0,"prevId":0,"content":"good","text":"good","html":"good"}],"langContent":"EN"},{"id":815680952,"gmtCreate":1630675442176,"gmtModify":1676530372993,"author":{"id":"3586596744781365","authorId":"3586596744781365","name":"AliPharma","avatar":"https://static.tigerbbs.com/4ae50feeb2edce44d991e8e753fb37e5","vip":1,"crmLevel":4,"crmLevelSwitch":0},"htmlText":"buffet","listText":"buffet","text":"buffet","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/815680952","repostId":2164874003,"repostType":4,"repost":{"id":"2164874003","pubTimestamp":1630674720,"share":"https://www.laohu8.com/m/news/2164874003?lang=&edition=full","pubTime":"2021-09-03 21:12","market":"us","language":"en","title":"This Baby Berkshire Just Hit an All-Time High -- Here's Why It's Still Undervalued","url":"https://stock-news.laohu8.com/highlight/detail?id=2164874003","media":"Motley Fool","summary":"It's not too late to get in on this conglomerate.","content":"<p>Buying into a well-run conglomerate can be incredibly rewarding. Not only can investors possibly beat the market (or at least put up quality returns) over the long haul, but they can do so with minimal effort, increasing the return on time spent. <b>Berkshire Hathaway</b>&nbsp;is the most famous modern conglomerate, run by <a href=\"https://laohu8.com/S/AONE.U\">one</a> of the most well-known investors ever: Warren Buffett.</p>\n<p>One smaller company with similar characteristics to Berkshire Hathaway is <b>Nelnet</b> (NYSE:NNI), a conglomerate focused on financial services based in Lincoln, Nebraska. The stock is currently trading around its all-time highs above $81 per share, but it's still cheap relative to the value of all its assets, providing a great buying opportunity for long-term investors.</p>\n<h2>Slowly melting loan book</h2>\n<p>Nelnet's legacy business is a book of around $20 billion in student loans. It was barred in 2010 from originating new loans when the federal government took the business in-house, but it still has an existing portfolio that will generate cash over the next decade. And the best part about this loan portfolio? Nelnet doesn't take on any material default risk, since all loans are backed by the U.S. government.</p>\n<p>At the end of the second quarter, Nelnet estimated that through 2025, including the last two quarters of this year, this loan book will generate $1.39 billion in cash for the company. After 2025, it will become a much smaller part of the company, but it is still estimated to add another $830 million in cash over the life of the portfolio. Nelnet is using this cash stream to reinvest into its other businesses and return cash to shareholders through dividends (the stock currently yields a little over 1%) and share repurchases.</p>\n<h2>Education software and payments</h2>\n<p>Nelnet's second-largest business is Nelnet Business Services. This segment does tuition payment processing and software for administrative departments at K-12 schools and colleges and is growing at a steady clip. In 2020, NBS produced $66 million in operating income, and that was in a down year with COVID-19-related school closures and postponements. In the first half of this year, NBS had $48 million in operating income, giving the segment a 39% operating margin. Compare that to 2016, when NBS did $34 million in operating income for the full year. This segment is growing steadily for Nelnet and is likely on pace to blow by $100 million in annual operating profits within the next few years.</p>\n<h2>Other investments</h2>\n<p>Nelnet has a lot of smaller businesses and investments that round out the company. One is its loan servicing business, which did $15 million in operating income last quarter. This business requires winning contracts from the federal government, and there is a risk Nelnet won't win future contracts and this entire segment will go away. But with two competitors calling it quits this year, and only <b>Navient</b>&nbsp;remaining as a scaled student loan servicer, it is unlikely that Nelnet will lose this business.</p>\n<p>In 2020, Nelnet sold 48% of its stake in ALLO Communications, a broadband/fiber business, to SDC Capital Partners. Nelnet owns 45% of the business after the transaction, which is valued at $180 million. Under its venture arm, Nelnet owns 20% of sports highlights and film software company Hudl, which is sitting on its balance sheet at $78 million but would likely be worth many times that if Hudl started trading publicly today. Lastly, since 2013, Nelnet has invested $725 million into solar projects, real estate, and venture investments. All these projects are held at cost on Nelnet's balance sheet.</p>\n<h2>Valuation</h2>\n<p>So what's Nelnet worth to the market today? The measly sum of $3.1 billion. That's right, this group of high-quality businesses and a loan book that is <i>guaranteed</i> to spit out $1.39 billion in cash over the next five years can be bought for a market cap of $3.1 billion. Since Nelnet is anti-promotional (it doesn't do conference calls and rarely highlights its Hudl investment), it may take years for investors to realize the true value of this business, which will require patience.</p>\n<p>Nelnet looks fantastically undervalued at the moment and is poised to provide market-beating returns for any investor planning to hold for a decade or longer.</p>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>This Baby Berkshire Just Hit an All-Time High -- Here's Why It's Still Undervalued</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThis Baby Berkshire Just Hit an All-Time High -- Here's Why It's Still Undervalued\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-03 21:12 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/09/03/baby-berkshire-nelnet-just-hit-an-all-time-high/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Buying into a well-run conglomerate can be incredibly rewarding. Not only can investors possibly beat the market (or at least put up quality returns) over the long haul, but they can do so with ...</p>\n\n<a href=\"https://www.fool.com/investing/2021/09/03/baby-berkshire-nelnet-just-hit-an-all-time-high/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BRK.A":"伯克希尔","BRK.B":"伯克希尔B"},"source_url":"https://www.fool.com/investing/2021/09/03/baby-berkshire-nelnet-just-hit-an-all-time-high/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2164874003","content_text":"Buying into a well-run conglomerate can be incredibly rewarding. Not only can investors possibly beat the market (or at least put up quality returns) over the long haul, but they can do so with minimal effort, increasing the return on time spent. Berkshire Hathaway is the most famous modern conglomerate, run by one of the most well-known investors ever: Warren Buffett.\nOne smaller company with similar characteristics to Berkshire Hathaway is Nelnet (NYSE:NNI), a conglomerate focused on financial services based in Lincoln, Nebraska. The stock is currently trading around its all-time highs above $81 per share, but it's still cheap relative to the value of all its assets, providing a great buying opportunity for long-term investors.\nSlowly melting loan book\nNelnet's legacy business is a book of around $20 billion in student loans. It was barred in 2010 from originating new loans when the federal government took the business in-house, but it still has an existing portfolio that will generate cash over the next decade. And the best part about this loan portfolio? Nelnet doesn't take on any material default risk, since all loans are backed by the U.S. government.\nAt the end of the second quarter, Nelnet estimated that through 2025, including the last two quarters of this year, this loan book will generate $1.39 billion in cash for the company. After 2025, it will become a much smaller part of the company, but it is still estimated to add another $830 million in cash over the life of the portfolio. Nelnet is using this cash stream to reinvest into its other businesses and return cash to shareholders through dividends (the stock currently yields a little over 1%) and share repurchases.\nEducation software and payments\nNelnet's second-largest business is Nelnet Business Services. This segment does tuition payment processing and software for administrative departments at K-12 schools and colleges and is growing at a steady clip. In 2020, NBS produced $66 million in operating income, and that was in a down year with COVID-19-related school closures and postponements. In the first half of this year, NBS had $48 million in operating income, giving the segment a 39% operating margin. Compare that to 2016, when NBS did $34 million in operating income for the full year. This segment is growing steadily for Nelnet and is likely on pace to blow by $100 million in annual operating profits within the next few years.\nOther investments\nNelnet has a lot of smaller businesses and investments that round out the company. One is its loan servicing business, which did $15 million in operating income last quarter. This business requires winning contracts from the federal government, and there is a risk Nelnet won't win future contracts and this entire segment will go away. But with two competitors calling it quits this year, and only Navient remaining as a scaled student loan servicer, it is unlikely that Nelnet will lose this business.\nIn 2020, Nelnet sold 48% of its stake in ALLO Communications, a broadband/fiber business, to SDC Capital Partners. Nelnet owns 45% of the business after the transaction, which is valued at $180 million. Under its venture arm, Nelnet owns 20% of sports highlights and film software company Hudl, which is sitting on its balance sheet at $78 million but would likely be worth many times that if Hudl started trading publicly today. Lastly, since 2013, Nelnet has invested $725 million into solar projects, real estate, and venture investments. All these projects are held at cost on Nelnet's balance sheet.\nValuation\nSo what's Nelnet worth to the market today? The measly sum of $3.1 billion. That's right, this group of high-quality businesses and a loan book that is guaranteed to spit out $1.39 billion in cash over the next five years can be bought for a market cap of $3.1 billion. Since Nelnet is anti-promotional (it doesn't do conference calls and rarely highlights its Hudl investment), it may take years for investors to realize the true value of this business, which will require patience.\nNelnet looks fantastically undervalued at the moment and is poised to provide market-beating returns for any investor planning to hold for a decade or longer.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5742961,"gmtCreate":1630675505049,"gmtModify":1635131831321,"authorId":3573553598754980,"author":{"id":3573553598754980,"authorId":3573553598754980,"name":"diamondHands","avatar":"https://static.tigerbbs.com/dc04e09561a7a5cf929c1ad9f33b1d82","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":815680952,"type":1,"supId":0,"prevId":0,"content":"<u>yes</u>","text":"<u>yes</u>","html":"<u>yes</u>"}],"langContent":"EN"},{"id":815612839,"gmtCreate":1630675070921,"gmtModify":1676530372902,"author":{"id":"3581663636601247","authorId":"3581663636601247","name":"StarryEyes","avatar":"https://static.tigerbbs.com/327a84fe00acf192cb40373b35e639e6","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"Pls like. Ty","listText":"Pls like. Ty","text":"Pls like. Ty","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/815612839","repostId":2164874003,"repostType":4,"repost":{"id":"2164874003","pubTimestamp":1630674720,"share":"https://www.laohu8.com/m/news/2164874003?lang=&edition=full","pubTime":"2021-09-03 21:12","market":"us","language":"en","title":"This Baby Berkshire Just Hit an All-Time High -- Here's Why It's Still Undervalued","url":"https://stock-news.laohu8.com/highlight/detail?id=2164874003","media":"Motley Fool","summary":"It's not too late to get in on this conglomerate.","content":"<p>Buying into a well-run conglomerate can be incredibly rewarding. Not only can investors possibly beat the market (or at least put up quality returns) over the long haul, but they can do so with minimal effort, increasing the return on time spent. <b>Berkshire Hathaway</b>&nbsp;is the most famous modern conglomerate, run by <a href=\"https://laohu8.com/S/AONE.U\">one</a> of the most well-known investors ever: Warren Buffett.</p>\n<p>One smaller company with similar characteristics to Berkshire Hathaway is <b>Nelnet</b> (NYSE:NNI), a conglomerate focused on financial services based in Lincoln, Nebraska. The stock is currently trading around its all-time highs above $81 per share, but it's still cheap relative to the value of all its assets, providing a great buying opportunity for long-term investors.</p>\n<h2>Slowly melting loan book</h2>\n<p>Nelnet's legacy business is a book of around $20 billion in student loans. It was barred in 2010 from originating new loans when the federal government took the business in-house, but it still has an existing portfolio that will generate cash over the next decade. And the best part about this loan portfolio? Nelnet doesn't take on any material default risk, since all loans are backed by the U.S. government.</p>\n<p>At the end of the second quarter, Nelnet estimated that through 2025, including the last two quarters of this year, this loan book will generate $1.39 billion in cash for the company. After 2025, it will become a much smaller part of the company, but it is still estimated to add another $830 million in cash over the life of the portfolio. Nelnet is using this cash stream to reinvest into its other businesses and return cash to shareholders through dividends (the stock currently yields a little over 1%) and share repurchases.</p>\n<h2>Education software and payments</h2>\n<p>Nelnet's second-largest business is Nelnet Business Services. This segment does tuition payment processing and software for administrative departments at K-12 schools and colleges and is growing at a steady clip. In 2020, NBS produced $66 million in operating income, and that was in a down year with COVID-19-related school closures and postponements. In the first half of this year, NBS had $48 million in operating income, giving the segment a 39% operating margin. Compare that to 2016, when NBS did $34 million in operating income for the full year. This segment is growing steadily for Nelnet and is likely on pace to blow by $100 million in annual operating profits within the next few years.</p>\n<h2>Other investments</h2>\n<p>Nelnet has a lot of smaller businesses and investments that round out the company. One is its loan servicing business, which did $15 million in operating income last quarter. This business requires winning contracts from the federal government, and there is a risk Nelnet won't win future contracts and this entire segment will go away. But with two competitors calling it quits this year, and only <b>Navient</b>&nbsp;remaining as a scaled student loan servicer, it is unlikely that Nelnet will lose this business.</p>\n<p>In 2020, Nelnet sold 48% of its stake in ALLO Communications, a broadband/fiber business, to SDC Capital Partners. Nelnet owns 45% of the business after the transaction, which is valued at $180 million. Under its venture arm, Nelnet owns 20% of sports highlights and film software company Hudl, which is sitting on its balance sheet at $78 million but would likely be worth many times that if Hudl started trading publicly today. Lastly, since 2013, Nelnet has invested $725 million into solar projects, real estate, and venture investments. All these projects are held at cost on Nelnet's balance sheet.</p>\n<h2>Valuation</h2>\n<p>So what's Nelnet worth to the market today? The measly sum of $3.1 billion. That's right, this group of high-quality businesses and a loan book that is <i>guaranteed</i> to spit out $1.39 billion in cash over the next five years can be bought for a market cap of $3.1 billion. Since Nelnet is anti-promotional (it doesn't do conference calls and rarely highlights its Hudl investment), it may take years for investors to realize the true value of this business, which will require patience.</p>\n<p>Nelnet looks fantastically undervalued at the moment and is poised to provide market-beating returns for any investor planning to hold for a decade or longer.</p>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>This Baby Berkshire Just Hit an All-Time High -- Here's Why It's Still Undervalued</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThis Baby Berkshire Just Hit an All-Time High -- Here's Why It's Still Undervalued\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-03 21:12 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/09/03/baby-berkshire-nelnet-just-hit-an-all-time-high/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Buying into a well-run conglomerate can be incredibly rewarding. Not only can investors possibly beat the market (or at least put up quality returns) over the long haul, but they can do so with ...</p>\n\n<a href=\"https://www.fool.com/investing/2021/09/03/baby-berkshire-nelnet-just-hit-an-all-time-high/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BRK.A":"伯克希尔","BRK.B":"伯克希尔B"},"source_url":"https://www.fool.com/investing/2021/09/03/baby-berkshire-nelnet-just-hit-an-all-time-high/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2164874003","content_text":"Buying into a well-run conglomerate can be incredibly rewarding. Not only can investors possibly beat the market (or at least put up quality returns) over the long haul, but they can do so with minimal effort, increasing the return on time spent. Berkshire Hathaway is the most famous modern conglomerate, run by one of the most well-known investors ever: Warren Buffett.\nOne smaller company with similar characteristics to Berkshire Hathaway is Nelnet (NYSE:NNI), a conglomerate focused on financial services based in Lincoln, Nebraska. The stock is currently trading around its all-time highs above $81 per share, but it's still cheap relative to the value of all its assets, providing a great buying opportunity for long-term investors.\nSlowly melting loan book\nNelnet's legacy business is a book of around $20 billion in student loans. It was barred in 2010 from originating new loans when the federal government took the business in-house, but it still has an existing portfolio that will generate cash over the next decade. And the best part about this loan portfolio? Nelnet doesn't take on any material default risk, since all loans are backed by the U.S. government.\nAt the end of the second quarter, Nelnet estimated that through 2025, including the last two quarters of this year, this loan book will generate $1.39 billion in cash for the company. After 2025, it will become a much smaller part of the company, but it is still estimated to add another $830 million in cash over the life of the portfolio. Nelnet is using this cash stream to reinvest into its other businesses and return cash to shareholders through dividends (the stock currently yields a little over 1%) and share repurchases.\nEducation software and payments\nNelnet's second-largest business is Nelnet Business Services. This segment does tuition payment processing and software for administrative departments at K-12 schools and colleges and is growing at a steady clip. In 2020, NBS produced $66 million in operating income, and that was in a down year with COVID-19-related school closures and postponements. In the first half of this year, NBS had $48 million in operating income, giving the segment a 39% operating margin. Compare that to 2016, when NBS did $34 million in operating income for the full year. This segment is growing steadily for Nelnet and is likely on pace to blow by $100 million in annual operating profits within the next few years.\nOther investments\nNelnet has a lot of smaller businesses and investments that round out the company. One is its loan servicing business, which did $15 million in operating income last quarter. This business requires winning contracts from the federal government, and there is a risk Nelnet won't win future contracts and this entire segment will go away. But with two competitors calling it quits this year, and only Navient remaining as a scaled student loan servicer, it is unlikely that Nelnet will lose this business.\nIn 2020, Nelnet sold 48% of its stake in ALLO Communications, a broadband/fiber business, to SDC Capital Partners. Nelnet owns 45% of the business after the transaction, which is valued at $180 million. Under its venture arm, Nelnet owns 20% of sports highlights and film software company Hudl, which is sitting on its balance sheet at $78 million but would likely be worth many times that if Hudl started trading publicly today. Lastly, since 2013, Nelnet has invested $725 million into solar projects, real estate, and venture investments. All these projects are held at cost on Nelnet's balance sheet.\nValuation\nSo what's Nelnet worth to the market today? The measly sum of $3.1 billion. That's right, this group of high-quality businesses and a loan book that is guaranteed to spit out $1.39 billion in cash over the next five years can be bought for a market cap of $3.1 billion. Since Nelnet is anti-promotional (it doesn't do conference calls and rarely highlights its Hudl investment), it may take years for investors to realize the true value of this business, which will require patience.\nNelnet looks fantastically undervalued at the moment and is poised to provide market-beating returns for any investor planning to hold for a decade or longer.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5742911,"gmtCreate":1630675109093,"gmtModify":1635131835651,"authorId":3574639428347488,"author":{"id":3574639428347488,"authorId":3574639428347488,"name":"Melvinchew","avatar":"https://static.tigerbbs.com/ccf98a3e05250637d0fbd74676c640a2","vip":1,"currentWearingBadge":{"badgeId":"44212b71d0be4ec88898348dbe882e03-2","templateUuid":"44212b71d0be4ec88898348dbe882e03","name":"Executive Tiger","description":"The transaction amount of the securities account reaches $300,000","bigImgUrl":"https://static.tigerbbs.com/9d20b23f1b6335407f882bc5c2ad12c0","smallImgUrl":"https://static.tigerbbs.com/ada3b4533518ace8404a3f6dd192bd29","grayImgUrl":"https://static.tigerbbs.com/177f283ba21d1c077054dac07f88f3bd","redirectLinkEnabled":0,"hasAllocated":1,"isWearing":1,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2022.08.04","exceedPercentage":"80.72%","individualDisplayEnabled":0,"individualDisplaySort":0,"categoryType":1101},"crmLevel":5,"crmLevelSwitch":1,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":815612839,"type":1,"supId":0,"prevId":0,"content":".","text":".","html":"."}],"langContent":"EN"},{"id":815616379,"gmtCreate":1630674961691,"gmtModify":1676530372840,"author":{"id":"3560144122940430","authorId":"3560144122940430","name":"小小爆米花","avatar":"https://static.tigerbbs.com/a8901eea0205335d02f752d9b13e1f65","vip":1,"crmLevel":5,"crmLevelSwitch":0},"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/815616379","repostId":2164874003,"repostType":4,"repost":{"id":"2164874003","pubTimestamp":1630674720,"share":"https://www.laohu8.com/m/news/2164874003?lang=&edition=full","pubTime":"2021-09-03 21:12","market":"us","language":"en","title":"This Baby Berkshire Just Hit an All-Time High -- Here's Why It's Still Undervalued","url":"https://stock-news.laohu8.com/highlight/detail?id=2164874003","media":"Motley Fool","summary":"It's not too late to get in on this conglomerate.","content":"<p>Buying into a well-run conglomerate can be incredibly rewarding. Not only can investors possibly beat the market (or at least put up quality returns) over the long haul, but they can do so with minimal effort, increasing the return on time spent. <b>Berkshire Hathaway</b>&nbsp;is the most famous modern conglomerate, run by <a href=\"https://laohu8.com/S/AONE.U\">one</a> of the most well-known investors ever: Warren Buffett.</p>\n<p>One smaller company with similar characteristics to Berkshire Hathaway is <b>Nelnet</b> (NYSE:NNI), a conglomerate focused on financial services based in Lincoln, Nebraska. The stock is currently trading around its all-time highs above $81 per share, but it's still cheap relative to the value of all its assets, providing a great buying opportunity for long-term investors.</p>\n<h2>Slowly melting loan book</h2>\n<p>Nelnet's legacy business is a book of around $20 billion in student loans. It was barred in 2010 from originating new loans when the federal government took the business in-house, but it still has an existing portfolio that will generate cash over the next decade. And the best part about this loan portfolio? Nelnet doesn't take on any material default risk, since all loans are backed by the U.S. government.</p>\n<p>At the end of the second quarter, Nelnet estimated that through 2025, including the last two quarters of this year, this loan book will generate $1.39 billion in cash for the company. After 2025, it will become a much smaller part of the company, but it is still estimated to add another $830 million in cash over the life of the portfolio. Nelnet is using this cash stream to reinvest into its other businesses and return cash to shareholders through dividends (the stock currently yields a little over 1%) and share repurchases.</p>\n<h2>Education software and payments</h2>\n<p>Nelnet's second-largest business is Nelnet Business Services. This segment does tuition payment processing and software for administrative departments at K-12 schools and colleges and is growing at a steady clip. In 2020, NBS produced $66 million in operating income, and that was in a down year with COVID-19-related school closures and postponements. In the first half of this year, NBS had $48 million in operating income, giving the segment a 39% operating margin. Compare that to 2016, when NBS did $34 million in operating income for the full year. This segment is growing steadily for Nelnet and is likely on pace to blow by $100 million in annual operating profits within the next few years.</p>\n<h2>Other investments</h2>\n<p>Nelnet has a lot of smaller businesses and investments that round out the company. One is its loan servicing business, which did $15 million in operating income last quarter. This business requires winning contracts from the federal government, and there is a risk Nelnet won't win future contracts and this entire segment will go away. But with two competitors calling it quits this year, and only <b>Navient</b>&nbsp;remaining as a scaled student loan servicer, it is unlikely that Nelnet will lose this business.</p>\n<p>In 2020, Nelnet sold 48% of its stake in ALLO Communications, a broadband/fiber business, to SDC Capital Partners. Nelnet owns 45% of the business after the transaction, which is valued at $180 million. Under its venture arm, Nelnet owns 20% of sports highlights and film software company Hudl, which is sitting on its balance sheet at $78 million but would likely be worth many times that if Hudl started trading publicly today. Lastly, since 2013, Nelnet has invested $725 million into solar projects, real estate, and venture investments. All these projects are held at cost on Nelnet's balance sheet.</p>\n<h2>Valuation</h2>\n<p>So what's Nelnet worth to the market today? The measly sum of $3.1 billion. That's right, this group of high-quality businesses and a loan book that is <i>guaranteed</i> to spit out $1.39 billion in cash over the next five years can be bought for a market cap of $3.1 billion. Since Nelnet is anti-promotional (it doesn't do conference calls and rarely highlights its Hudl investment), it may take years for investors to realize the true value of this business, which will require patience.</p>\n<p>Nelnet looks fantastically undervalued at the moment and is poised to provide market-beating returns for any investor planning to hold for a decade or longer.</p>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>This Baby Berkshire Just Hit an All-Time High -- Here's Why It's Still Undervalued</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThis Baby Berkshire Just Hit an All-Time High -- Here's Why It's Still Undervalued\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-03 21:12 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/09/03/baby-berkshire-nelnet-just-hit-an-all-time-high/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Buying into a well-run conglomerate can be incredibly rewarding. Not only can investors possibly beat the market (or at least put up quality returns) over the long haul, but they can do so with ...</p>\n\n<a href=\"https://www.fool.com/investing/2021/09/03/baby-berkshire-nelnet-just-hit-an-all-time-high/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BRK.A":"伯克希尔","BRK.B":"伯克希尔B"},"source_url":"https://www.fool.com/investing/2021/09/03/baby-berkshire-nelnet-just-hit-an-all-time-high/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2164874003","content_text":"Buying into a well-run conglomerate can be incredibly rewarding. Not only can investors possibly beat the market (or at least put up quality returns) over the long haul, but they can do so with minimal effort, increasing the return on time spent. Berkshire Hathaway is the most famous modern conglomerate, run by one of the most well-known investors ever: Warren Buffett.\nOne smaller company with similar characteristics to Berkshire Hathaway is Nelnet (NYSE:NNI), a conglomerate focused on financial services based in Lincoln, Nebraska. The stock is currently trading around its all-time highs above $81 per share, but it's still cheap relative to the value of all its assets, providing a great buying opportunity for long-term investors.\nSlowly melting loan book\nNelnet's legacy business is a book of around $20 billion in student loans. It was barred in 2010 from originating new loans when the federal government took the business in-house, but it still has an existing portfolio that will generate cash over the next decade. And the best part about this loan portfolio? Nelnet doesn't take on any material default risk, since all loans are backed by the U.S. government.\nAt the end of the second quarter, Nelnet estimated that through 2025, including the last two quarters of this year, this loan book will generate $1.39 billion in cash for the company. After 2025, it will become a much smaller part of the company, but it is still estimated to add another $830 million in cash over the life of the portfolio. Nelnet is using this cash stream to reinvest into its other businesses and return cash to shareholders through dividends (the stock currently yields a little over 1%) and share repurchases.\nEducation software and payments\nNelnet's second-largest business is Nelnet Business Services. This segment does tuition payment processing and software for administrative departments at K-12 schools and colleges and is growing at a steady clip. In 2020, NBS produced $66 million in operating income, and that was in a down year with COVID-19-related school closures and postponements. In the first half of this year, NBS had $48 million in operating income, giving the segment a 39% operating margin. Compare that to 2016, when NBS did $34 million in operating income for the full year. This segment is growing steadily for Nelnet and is likely on pace to blow by $100 million in annual operating profits within the next few years.\nOther investments\nNelnet has a lot of smaller businesses and investments that round out the company. One is its loan servicing business, which did $15 million in operating income last quarter. This business requires winning contracts from the federal government, and there is a risk Nelnet won't win future contracts and this entire segment will go away. But with two competitors calling it quits this year, and only Navient remaining as a scaled student loan servicer, it is unlikely that Nelnet will lose this business.\nIn 2020, Nelnet sold 48% of its stake in ALLO Communications, a broadband/fiber business, to SDC Capital Partners. Nelnet owns 45% of the business after the transaction, which is valued at $180 million. Under its venture arm, Nelnet owns 20% of sports highlights and film software company Hudl, which is sitting on its balance sheet at $78 million but would likely be worth many times that if Hudl started trading publicly today. Lastly, since 2013, Nelnet has invested $725 million into solar projects, real estate, and venture investments. All these projects are held at cost on Nelnet's balance sheet.\nValuation\nSo what's Nelnet worth to the market today? The measly sum of $3.1 billion. That's right, this group of high-quality businesses and a loan book that is guaranteed to spit out $1.39 billion in cash over the next five years can be bought for a market cap of $3.1 billion. Since Nelnet is anti-promotional (it doesn't do conference calls and rarely highlights its Hudl investment), it may take years for investors to realize the true value of this business, which will require patience.\nNelnet looks fantastically undervalued at the moment and is poised to provide market-beating returns for any investor planning to hold for a decade or longer.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":124,"commentSize":15,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}