whatstheofficerproblem

Berkshire does have women and minorities on the board, but rather than insult them by treating these highly accomplished individuals as props to generate a checkmark on some diversity grid, the proxy emphasizes that they were selected due to what they bring to the table in terms of experience and ownership. In response to a shareholder proposal that is intended to force Berkshire into the practices of most other large companies, the proxy responds with the following statement: Readers of the biographies covering Mr. Buffett’s life know that he was an advocate for civil rights from the earliest days of the civil rights movement of the 1960s. He has also made numerous comments over the years about the loss to individual businesses and to society as a whole when women are discriminated against in employment markets. None of this seems to matter to politically driven pressure campaigns intended to intimidate businesses to elevate skin color, gender, and sexual orientation over ownership and business acumen when it comes to corporate governance. I am in tears, if only.. if only all companies had this policy, a lot of good people would have their share. DEI recruitment is even worse. I don't know where the world is going, there is now a filter in school admissions and after being admitted there is a filter in employment, this double filtering is nothing but insult. Thank you Berkshire for being the voice of reason in today's world, or whatever it is.

Rumor has it that they used NetJets to travel private and made BRK more money while coming to Nebraska. Edit: I said that as a joke, turns out they really did use NetJets and the flights were grounded for a week.. they are making BRK richer on their way in and out of Omaha.

The biggest winners should be Citadel, more order flows for Kenny G.

This is precisely why every company using the 'G' word (GPT) is seeing stock price skyrocket. It truly is a marvelous invention, akin to that of the internet, this is why I think in the upcoming years there will be a slew of AI companies that will go public and trade at ridiculous prices, I expect another Dot Com Bubble but more violent because now we have VCs and Private Capital the likes of which we never had during the Dot Com Bubble.

Cheers! For some reason I only saw this, enough AI for me.

Best play actually be OpenAI itself, but revolutionary tech is rarely public. MSFT would be the most obvious idea imo because not everyone can shoulder the cost of developing something like GPT unless they are really big corporations. We can all agree that AAPL, META also have something in the works but just haven't shown it to the world yet. Duolingo is one I don't understand, they are just hitting all the buzz words, I think GPT will be useless in case of Duolingo because GPT is not the one learning the language, the guy who is paying for it, the customer is learning it. If I am as dumb as a rock, GPT can do little to help me. The only use of GPT in this context would be to tailor learning for the individual consumer which I don't know the effectiveness of, 'Explain my answer' and 'Roleplay' are suspect for me, I can't gauge how useful they are.

Don't know about the others, but checks out for FRC, 10-K pg. 119; Total Deposits = $176.4 Billion Uninsured = $119.5 Billion Estimates of uninsured deposits are based on the methodologies and assumptions used in our Consolidated Reports of Condition and Income (“Call Report”) filings.

If I can have 30 mins of your time.

Just got to know that there was a wokeness angle to this issue, internal programs rewarding the most wokest, it could also be the case that the 15 month vacancy for the CRO was to find the right person who met their Diversity, Equity and Inclusion bracket. How can a bank, whose entire balance sheet is nothing but risk, in an environment as risky as today, leave the most crucial position vacant?

True, SCHW I see a probability, SIVB though is highly unlikely, last thing you need is a bunch of VCs and PE guys saying they are indirectly funded by Buffett.

Lmao.. how people miss this simple logic is beyond me.

*Jersey accent thickens* "You know that little jewish kid that used to get bullied in school and think the whole world is against him."

Molly McDonnell, CFO at Lone Pine. Got to give Stephen credit where credit is due, LP is one of the very few funds where women were actually valued. To this day, almost all of the non-investing staff is women with a few in investing in high positions, the avg tenure for a woman at LP is 5+ years, much less for men. How do I know that? don't ask, looks like Mandel likes to surround himself in flowers.

This one is unconventional, I usually don't mention anyone else except founder, MP, CIO or CEO, but this is one of the few special cases. Rosanna Konarzewski, Chief 'Communications' Officer at Millennium, whatever that means. Why am I mentioning her? Don't ask .

Carlene Ziegler, cofounded Artisan along with her husband, they have ~$176B today.

Caroline Cooley, one of the OGs. Managing Partner and CIO of Crestline Summit Strategies, previously ran a fund of fund for Crestline too. Used to be a derivative trader back in the day. Deserves that bright smile.

Elite Wealth Management, WA based, Fariba Ronnasi, pretty meh performance, inline with the S&P500, multi-strat with all strategies in at the end in line with the benchmark. Grown to $840M in AUM despite it. Edit: Fariba is also the founder of Lattice Capital Management ~550M AUM, their flagship Dynamic Alpha Fund has a 3 YR CAGR of ~29.5%

OPTI Capital Management, NY based, run by Xiuping Li, the fund's performance is scary. Purely from their 13Fs, 3 Yr Annualized performance was ~120%, All time performance was ~950%. This is just the $1B they have in US equities, not to mention the other $600M which is outside. Goes to show how there always were smart women in finance who rose above the rest, just that they did not enter the ego measuring contest like certain managers that's it. When will people realize that anonymity is the greatest wealth.

@LC You misunderstood me , I was just listing women in finance (HF) space that are well worth mentioning. I only have eyes for Cathy Woods, you see, I don't like women smarter than me.

Kite Lake Capital Management - UK based fund specializing in Event/special sits, started with $100M in 2013 and now grown to $2.7B, the co-founder and CIO is Massi Khadjenouri, 2022 performance of the KL Special Opportunities Fund was 14.3%, outperforming a lot of big named firms. I remember pitching BN's ORG acquisition to her. The grandmother I wish I had. https://thehedgefundjournal.com/kite-lake/

Now that's a lady whose number I'd be interested in.

Speaking of women in finance. https://www.alumni.hbs.edu/stories/Pages/story-bulletin.aspx?num=9027

Increased stake in GOOGL by 168%.

If the Ukrainians had consulted me before blowing up the stream, I would've gone to Russia and bought equity in good businesses like SBER, YNDX etc for pennies on the dollar while telling the sellers that we would never open markets to Russian stocks again. An opportunity missed this one. People already hated giving billions to Ukraine while things in house looked grim, they were just not outspoken about it for obvious reasons. This attack will only turn that fringe vocal minority into a sizeable voice that can't be ignored. Soon Russian stocks will be traded again. If you're an investor in Russian securities and are looking to sell your stake please shoot me a message. My offer prices: SBER - 20 RUB/sh YNDX - 200 RUB/sh GAZP - 20 RUB/sh POLY - 5 RUB/sh

Definitely worth a watch.