Hektor

Besides currency risk, how would one handicap the (perceived?) risk of the (federal or state) government forcing a sale to other preferred entities? https://pulitzercenter.org/stories/adanis-acquisitions-inside-companys-growth-machine#:~:text=He also turned on the,awarded the project to Adani.

Thanks for posting these, @Parsad. Another mini Berkshire (or mini Fairfax) in the making, I guess.

True.

I think this depends on who is handling that $ inside Berkshire. Its one thing if it were Warren/Charlie. With others, if they start out with the intent of implementing Warren's teachings, but end up in diworsification, that $ is less than a dollar.

+1

From the Washington Post editorial board https://www.washingtonpost.com/opinions/2025/11/12/warren-buffett-thanksgiving-letter-retirement/ The Oracle of Omaha will be missed as he goes quiet Taking the long view has been key to Warren Buffett’s success.

I've always felt that he would have said 90%in BRK if he was not at the helm.

Greg and co might go international too (e.g. India, China). Plus, they could start a healthy dividend.

Did some large A shareholder(s) express concerns to him about the future leaders? Is he trying to assuage their concerns by saying he will keep his A shares until they are comfortable with the next leadership?

https://www.wsj.com/world/asia/the-u-s-s-most-ambitious-shipyard-project-just-got-tougher-2438cb49 The U.S.’s Most Ambitious Shipyard Project Just Got Tougher Hanwha Philly Shipyard, acquired by a South Korean firm and tasked with reviving U.S. shipbuilding, must now make a nuclear-powered submarine for the first time

+1

+1 +1

Warren Buffett: It's not me! OMAHA, Neb.--(BUSINESS WIRE)--It has come to the attention of Warren Buffett that there are several videos posted on YouTube that include alleged comments of Mr. Buffett by images or AI created images impersonating Mr. Buffett. Generally, such video images of Mr. Buffett may appear to look like him but the sound of the impersonator speaking in a very flat monotone voice is clearly not the voice of Mr. Buffett. A link to one such video appearing on YouTube follows: https://www.youtube.com/watch?v=jJ3ZHkZF13s. Mr. Buffett is concerned that these types of fraudulent videos are becoming a spreading virus. Individuals who are less familiar with Mr. Buffett may believe these videos are real and be misled by the contents of these videos. Mr. Buffett has rarely commented publicly since Berkshire’s shareholder’s meeting last May. On Monday, November 10th, Berkshire will be issuing a press release which will contain a message from Mr. Buffett regarding philanthropy, Berkshire and other matters that Berkshire shareholders and others may find to be of interest. The press release will be posted on Berkshire’s website.

Will Fairfax list on any of the US exchanges again?

Nah, they should continue doing what they are doing https://www.wsj.com/tech/apple-2025-tim-cook-36af914a How Tim Cook Evaded Disaster at Apple This Year The CEO was facing risks from Trump’s tariffs, Google litigation and the AI craze. He turned to his playbook and now the iPhone maker is worth $4 trillion.

And he lives in the north

+1 +1

https://www.kgw.com/article/money/business/amazon-charges-pacificorp-failing-power-data-centers/283-091f8e8a-be97-4cf1-a679-e8cc54706004# Amazon accuses PacifiCorp for failing to power up Oregon data centers

Thanks Bill @wabuffo

Thanks for the insight @tnathan @dwy000

Thanks @wabuffo If SHTF again, how do you feel about the Fed's position to mount a rescue (i.e. do a QE)?

Thanks @dealraker and everyone on this thread. These posts help understand the brokers. I guess, for me, it is more reading to better understand these businesses.

https://www.bloomberg.com/news/articles/2025-10-30/buffett-hands-off-annual-letter-to-successor-abel-wsj-reports Buffett Hands Off Annual Letter to Successor Abel, WSJ Reports Warren Buffett will skip writing Berkshire Hathaway Inc.’s widely read annual letter in February, handing the duty to his successor, Vice Chairman Greg Abel, according to the Wall Street Journal. The 95-year-old billionaire will still publish a Thanksgiving letter on Nov. 10 addressed to his children and shareholders, the newspaper reported, citing Buffett’s assistant. The famed investor also reportedly won’t take questions at his firm’s annual meeting in May — a fixture of the gathering that brings thousands of people to Omaha, Nebraska.

Thanks for the response @dealraker. Why settle for 5%? Why not wait for a better entry? Is the reasonable expectation that growth will accelerate is the near to medium future?

Rookie question: All these brokers on sale seems to yield 3-5% at the current price. I understand there is some stickiness to the business and the capex needs are negligible. Is the thesis that they will continue to grow (organically and by rolling up the fragmented market) decently for the foreseeable future?