Thrifty3000 Posted January 4, 2022 Share Posted January 4, 2022 I haven't looked into this in a while. Who is handling the day to day bond portfolio management for Berkshire Hathaway? Has there been any discussion of whether Todd and Ted will have any say in bond portfolio allocation post-Buffett? (I know Ted made a lot of money buying distressed debt pre-Berkshire.) Link to comment Share on other sites More sharing options...
Thrifty3000 Posted January 4, 2022 Author Share Posted January 4, 2022 Ok, this topic has been viewed nearly 300 times and no one has answered! No worries. How important could the bond portfolio be anyway? (Sarcasm alert) Link to comment Share on other sites More sharing options...
ValueMaven Posted January 5, 2022 Share Posted January 5, 2022 Only about $20b of bonds vs $280b of equities. I believe there is a muni bond trader at HQ who mostly is rolling over positions, and managing some of the t bill exposure as well. I think what you are referring to is when WEB gets active in stuff like Junk paper in 02/03…and not the typical general account for Berkshire. I’d expect Ted to do more here - but also work with Todd and Greg as well. Ted has distress experience Link to comment Share on other sites More sharing options...
Thrifty3000 Posted January 5, 2022 Author Share Posted January 5, 2022 1 hour ago, ValueMaven said: Only about $20b of bonds vs $280b of equities. I believe there is a muni bond trader at HQ who mostly is rolling over positions, and managing some of the t bill exposure as well. I think what you are referring to is when WEB gets active in stuff like Junk paper in 02/03…and not the typical general account for Berkshire. I’d expect Ted to do more here - but also work with Todd and Greg as well. Ted has distress experience Thanks @ValueMaven! Yes, that’s what I’m talking about. I know bonds are a minuscule percentage of the portfolio today, but there was a time back when interest rates were a real thing - pre-2010 - when bonds regularly amounted to over 10% of the portfolio. And, yes, Buffett has been able to work some magic with special bond situations over the years. So, it occurred to me that if the whole interest rate concept ever becomes a thing again that we don’t really know who will be qualified to take the reins. Oh well. Link to comment Share on other sites More sharing options...
ValueMaven Posted January 5, 2022 Share Posted January 5, 2022 The person at headquarters is more of a trader who executes for Warren vs. an investment manger specifically. I believe Snowball is the source on this one Link to comment Share on other sites More sharing options...
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