ValueMaven

Who are the most shareholder friendly management teams? I'll start: HEICO

we just literally put $20B to work in 24hours. Not bad!

Yes

Anyone hear from, or anything about Joe Brandon at all at the Annual Meeting?

give me a break ... people are now literally debating the meaning of single words in this article? Probably vs. Almost Certainly? If you really think this matters - then you shouldnt own Berkshire.

Brooks Running is absolutely booming. I am a huge runner myself - for a long-time Brooks was considered super niche, and not really performance based. Over the last several years they have really upgraded the product-line, stolen share from Nike, and signed some HUGE athletes (top American runner Clayton Young recently btw). Ohio Capital recently posted on X, that he thought Brooks was one of Berkshire's best acquisitions ever.

@rogermunibond thank you for sharing!!

What do people know about Tokio Marine? I for one know almost nothing.

Buffett has already said that Berkshire doesnt want to acquire OXY. Why would this change? OxyChem was the perfect acquisition and we still have those sweet 8% preferreds. I could see something like HEICO, or something in the industrial gas complex. IR could be very interesting. Also thought that LNG could be possible - but its moved hard recently. I believe they co-manage some terminals with BHE as well.

You have a company that is generating ~$45B+ of operating income w/$350B+ of cash. With cash accumulating so rapidly, buybacks at current level makes sense. T-Bills are generating like $10-$12B a year of NII. I think that is a good assumption going forward. I for one want BRK to always have a lot of cash for distressed optionality. OxyChem deal was awesome and really highlights how quickly we can move. I'd rather lots of quality bolt-ons like OxyChem, Bell etc, vs. one large elephant.

'We paid $4.2 billion for Allied World in 2017. Since then, under Lou Iglesias’s outstanding leadership, they have earned $4.8 billion' !!!!!!!!!!!

Mr. Abel is such the right leader for this next chapter. The next 20+ years under him are going to be awesome. His segment on using his full salary to buy Berkshire was truly amazing.

https://www.berkshirehathaway.com/letters/2025ltr.pdf link doesnt work ** NOW IT DOES *** they posted the 2024 letter instead of 2025

Is anyone interested in KW as an arb spread? You collect $0.10 plus $0.24 in rather short-order. No position - but worth watching if you get a shot at like $10.70 or so.

There was nothing new in that WSJ article

I was able to buy a lot of the ADR between prices of $1600 - $1610 today. Had to act quick! Thank you BMO!

He is worth every penny !!

Over the past 10 years, the GOAT has: bought back about `10% of the company, acquired OxyChem, Pilot Flying, Alleghany Corp, Precision Castparts, massive homerun in Japanese trading-house investments, while having a record about of operating income and over $350B of CASH.

Berkshire (40%) Cash (20%) HEICO (20%) Constellation Software (5%) Fannie Mae $25 preferred (5%) EchoStar (5%) Company ESPP - the rest

FNMAS for a recap and release (finally). Surprised no one mentioned this one. UniFirst (UNF) - as it is finally sold under increased pressure by Cintas + activists.

Looks like it is blocked behind a paywall?

I think Greg at somepoint will appoint Ted as the head of the equity portfolio ... Greg seems very pragmatic, and his skill-set is not stock-picking (he is an operator). Also, maybe the New Mountain Asset Mgmt arm of Gen Re will take over the equity portfolio ?? Could be an interesting approach.

@wabuffo his biggest shorts were AIG and Fannie and Freddie. Source is a podcast he mentioned this. Buffett sold out of Fannie in the early 2000s ... so some loose connection as well.

Ted > Todd ... Todd is a coward

Long DJCO and chill ...