BHE (Berkshire Hathaway Energy):The fourth giant, BHE, a portfolio of locally managed businesses in the utility sector, is another classic example of the Munger-Buffet preference for companies with an economic moat—the massive capital required to lay power lines across the U.S. protects BHE fr...
Charlie Munger heavily influenced Warren Buffett’s investment style. Munger believed in holding a hyper-concentrated portfolio of extremely high-quality businesses. Munger eschewed diversification – he was comfortable holding as few as 3 securities at a time. Munger’s philosophy of buying and holding...
In my lifetime, 98 years, it was the ideal time to own a diversified portfolio of common stocks that updated a little by adding the new ones that came in like the Apples and the Alphabets and so forth. I’d say the people got maybe 10-11% if you did that very intelligently before ...
Charlie Munger, Berkshire’s Vice Chairman and my partner, and I expect Berkshire’s normalized earning power per share to increase every year. Actual earnings, of course, will sometimes decline because of periodic weakness in the U.S. economy. In addition, insurance mega-catastrophes or other ...
We also believe that investors can benefitby focusing on their own look-through earnings. To calculate these, they should determine the underlying earnings attributable to the shares they hold in their portfolio and total these.The goal of each investor should be to create a portfolio (in effect...
Charlie:You’re certainly right about that. It’s plumb crazy, and it’s exactly the way people who buy Berkshire are investing. It’s plumb crazy to have a big common stock portfolio in a corporation and pay taxes compared to a partnership that doesn’t. And that’s just the way ...
t going to lose as much money as everybody thought they were with that big real estate portfolio. Because they had chosen it better and they had managed it better, etc. etc. So we had an information advantage just based on general thinking and collecting data…We were aware that they ...
Overall, insurance underwriting generated earnings of $5.4 billion in 2023, up from a loss of $30 million in 2022. Berkshire also bought back $2.2 billion in stock last quarter, bringing the year’s total to approximately $9.2 billion in stock repurchases. Saturday...