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Tag: Berkshire Hathaway

  • Warren Buffett’s followers just got a rare peek inside his personal stock portfolio. Here’s what they learned from a new report.

    Warren Buffett’s followers just got a rare peek inside his personal stock portfolio. Here’s what they learned from a new report.

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    Warren Buffett.Mario Anzuoni/Reuters

    • Warren Buffett’s disciples got a rare peek inside his personal stock portfolio this week.

    • The investor sold nearly $500 million of stocks over 20 years, ProPublica reported, citing IRS data.

    • Buffett’s private holdings have reportedly included Wells Fargo, Walmart, and Johnson & Johnson.

    Warren Buffett’s followers got a rare glimpse inside his personal stock portfolio this week, revealing the famed investor and Berkshire Hathaway CEO has counted Wells Fargo, Walmart, and Johnson & Johnson among his private holdings over the years.

    Buffett’s disciples also gained a sense of the scale of his personal bets. The 93-year-old centibillionaire sold at least $466 million of shares between 2000 and 2019, and disposed of government and corporate bonds worth far more during that period, ProPublica reported this week, citing leaked data from the Internal Revenue Service (IRS).

    ProPublica’s story accused Buffett of breaking his own rules at Berkshire, which bar employees with inside knowledge of what the company is buying, selling – or planning to buy or sell – from trading those securities. Buffett’s also stated that when it comes to his personal investments, he avoids the securities on Berkshire’s radar or in its portfolio given the potential conflicts of interest.

    Buffett reportedly sold $20 million of Wells Fargo stock in April 2009, even though he was publicly talking up the bank as one of its largest shareholders at the time, and Berkshire boosted its stake during the next quarter.

    He sold $25 million of Walmart stock four months later, during a quarter when Berkshire bolstered its position.

    Finally, he disposed of $35 million of Johnson & Johnson stock in October 2012, shortly before Berkshire revealed it had trimmed its stake in the same company.

    ProPublica said Buffett didn’t respond to questions about the trades. Berkshire didn’t immediately respond to a request for comment from Insider.

    Adam Mead, the author of “The Complete Financial History of Berkshire Hathaway,” shared one possible explanation for the trades on X.

    “It kinda feels like Buffett wanted to get out of WFC and Walmart so Berkshire could have the shares and he wouldn’t be personally taking a seat at the shareholders table,” Mead said. “And I think he got out of J&J after BRK was done selling. I could be wrong. Hopefully he clears it up.”

    Paying the bills

    Regardless of any alleged impropriety, Buffett’s reported sales are noteworthy. They suggest that over a period of years, he personally owned at least $80 million worth of just three stocks.

    It’s safe to say his portfolio is worth multiples of that, given Buffett is a long-term investor who doesn’t sell often, and the fact his bond disposals were much larger in dollar terms, according to ProPublica.

    The fresh details of Buffett’s portfolio help explain how he pays his bills. After all, he only collects a $100,000 salary from Berkshire, and pays back half that amount to the company each year.

    Moreover, he has never sold a share of his $100 billion-plus of Berkshire stock. Dividends and income from a portfolio that’s likely worth hundreds of millions of dollars, if not billions, probably help keep him afloat.

    The presence of Wells Fargo, Walmart, and Johnson & Johnson in Buffett’s portfolio won’t surprise his acolytes.

    Berkshire was a Wells Fargo shareholder for more than 30 years prior to 2022, and counted the lender among its top five positions for most of that time.

    It first invested in Johnson & Johnson more than a decade ago, and still owned the pharmaceutical stock as of June.

    Buffett’s company also owned Walmart for many years, and the mega-retailer ranked among its biggest bets at points.

    Read the original article on Business Insider

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  • Americans pay $100 billion in real estate commissions but get ready for a 30% cut on that, expert says

    Americans pay $100 billion in real estate commissions but get ready for a 30% cut on that, expert says

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    Home buyers and sellers had a big week. Significant changes to how—and how much—they pay real-estate agents became more likely after a $1.8 billion verdict on Tuesday against the National Association of Realtors and large residential brokerages.

    The defendants artificially inflated commissions and “conspired to require home sellers to pay the broker representing the buyer of their homes in violation of federal antitrust law,” a federal jury in Missouri found. 

    The lawsuit (and two others) could lead to a 30% reduction in the $100 billion that Americans pay each year in real-estate commissions, said Ryan Tomasello, a real-estate industry analyst with Keefe, Bruyette & Woods, in a research note on the case, reported the Wall Street Journal.

    “We believe changes to the residential brokerage industry’s commission structure could cause the annual commission pool to decline by upwards of 30% over time,” he said. 

    NAR will appeal, and that process could take years. In a statement provided to Fortune, NAR vice president of communications, Mantill Williams, said its rules “prioritize consumers, support market-driven pricing and promote business competition.” The organization will ask the judge to reduce the verdict in the interim, he added.

    Housing market implications

    But Anthony Lamacchia, whose brokerage Lamacchia Realty has more than 500 agents in various states, told the Journal: “I have a hard time believing that this could be the verdict and there’s no material changes. It’s just what, and when, and what does it lead to?” 

    The judge might require changes to how brokerages operate, but whether that happens or not, the ruling could spur real-estate brokerages, fearful of potential liability, to implement new practices. Before the trial, two of the four big real estate broker franchisors named in the case, RE/MAX and Anywhere Real Estate, agreed to settlements, pending approval from the judge.

    The other two were Keller Williams Realty and HomeServices of America, an affiliate of Berkshire Hathaway. A spokesperson for HomeServices, which plans to appeal, said in a statement: “Today’s decision means that buyers will face even more obstacles in an already challenging real estate market, and sellers will have a harder time realizing the value of their homes.” 

    Another upshot of the ruling could be new business models finally breaking through. For years, real-estate startups have tried and failed to upend the way agents are paid. Among them was REX, cofounded by ex-Goldman Sachs partner Jack Ryan.

    “This will be a catalyst,” Ryan told the Journal, “because no one could break the cartel.”

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    Steve Mollman

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  • Charlie Munger Raves About Warren Buffett’s Rare Japanese Investment Opportunity Of A Century — ‘It Was Like Having God Just Opening A Chest And Just Pouring Money Into It’ — High Rewards For A Low Risk

    Charlie Munger Raves About Warren Buffett’s Rare Japanese Investment Opportunity Of A Century — ‘It Was Like Having God Just Opening A Chest And Just Pouring Money Into It’ — High Rewards For A Low Risk

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    Warren Buffett’s unexpected decision to invest in Japan during the 2020 pandemic seems to have paid off, and no one appears more pleased than Berkshire Hathaway Inc. Vice Chairman Charlie Munger.

    The strategy was a departure from the company’s well-known preference for American enterprises like Apple Inc., the Coca-Cola Co., Bank of America Corp. and American Express Co. The company’s portfolio has often been a testament to its confidence in the U.S. market. Speaking on the Acquired podcast in October, however, Munger pointed out that the Japanese investment was a distinctive and lucrative opportunity that couldn’t be passed up.

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    “If you’re as smart as Warren Buffett, maybe two, three times a century, you get an idea like that,” Munger said on the podcast. He cited Japan’s low interest rate environment as a key factor, saying, “The interest rates in Japan were 0.5% a year for 10 years, and these trading companies were really entrenched old companies.”

    Berkshire Hathaway’s strategy involved borrowing money in Japan at a mere 0.5% interest and investing in companies there that offered a 5% dividend yield.

    “It was like having God just opening a chest and just pouring money into it,” Munger said.

    Initially, Berkshire Hathaway declared a $6 billion investment across five Japanese trading houses — Itochu International Inc., Marubeni Corp., Mitsubishi Corp., Mitsui & Co. Ltd. and Sumitomo Corp. Group — in August 2020. That investment has grown substantially and is now valued at approximately $17 billion, thanks in part to both additional share purchases and soaring stock prices of the companies involved.

    Munger provided more detail on the mechanics of the investment, indicating it wasn’t an overnight success but rather a result of patient, incremental actions.

    Trending: Get equity and front row seats to the startups and small businesses you love —⁠ for as little as $100.

    “The only way you could get it was to be very patient and just pick away at little pieces at a time. It took forever to get $10 billion invested, but it was awfully easy money,” Munger said.

    In contrast, U.S. interest rates have escalated to over 5% since last spring, adding another layer of context to the wisdom of this Japanese trade.

    “We could do that, nobody else could,” said Munger, highlighting that Berkshire’s strong credit rating gave them access to such favorable borrowing terms in Japan.

    In the Acquired podcast interview, the host pointed out a paradox: While Berkshire Hathaway’s excellent credit allows it access to low-interest loans, the company’s enormous scale makes it challenging to invest sufficiently large sums. In response, Munger agreed, stating, “That’s true, but why shouldn’t it be hard to make money? Why should it be easy?”

    Before the podcast, at Berkshire Hathaway’s annual shareholders meeting in May, Buffett shared insights into these investments, noting that the selected companies were “ridiculously” cheap and compatible with Berkshire’s long-term vision.

    Andrew McCagg of Nomura Asset Management UK Ltd. also offered his perspective on the investment.

    “Improving shareholder returns were likely a bigger factor in Buffett’s decision to buy Japanese trading houses than some of the other factors,” he told Insider via email.

    Berkshire Hathaway’s Japanese investments, as described by Munger, represent a special kind of opportunity: high rewards for low risk. The investment appears to be a case study in successful financial strategy, blending patient capital allocation with keen market observation.

    In the realm of high-reward, low-risk investments, fine art presents another intriguing opportunity. Masterworks is a platform that has democratized access to the art market, traditionally considered an investment playground for the ultra-wealthy. Through Masterworks, everyday investors can now own shares in high-value artwork from renowned artists like Banksy and Jean-Michel Basquiat. This offers a unique chance to invest alongside billionaires, without needing a Berkshire Hathaway-sized budget.

    According to data from various sources, including Art Market Research, fine art has outperformed the S&P 500 over the long term, further validating its investment potential. Like Berkshire Hathaway’s calculated risk in Japan, investing in art through platforms like Masterworks can provide a potentially lucrative yet relatively stable avenue for building wealth.

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    Don’t miss real-time alerts on your stocks – join Benzinga Pro for free! Try the tool that will help you invest smarter, faster, and better.

    This article Charlie Munger Raves About Warren Buffett’s Rare Japanese Investment Opportunity Of A Century — ‘It Was Like Having God Just Opening A Chest And Just Pouring Money Into It’ — High Rewards For A Low Risk originally appeared on Benzinga.com

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    © 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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  • Warren Buffett shared timeless investment wisdom in his first-ever national TV interview nearly 40 years ago. Here are the best 9 quotes.

    Warren Buffett shared timeless investment wisdom in his first-ever national TV interview nearly 40 years ago. Here are the best 9 quotes.

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    At the annual Berkshire Hathaway shareholder meeting, billionaire Charlie Munger said that cutting out toxic people is essential to success.Nati Harnik/Associated Press

    • Berkshire Hathaway CEO Warren Buffett sat down for his first national TV interview in 1985.

    • Appearing on the PBS show “Adam Smith’s Money World,” he offered sage investment advice that he continues to preach today.

    • Here are the best quotes Buffett dropped in his first TV interview from nearly 40 years ago.

    Berkshire Hathaway CEO Warren Buffett is a household name today, as the businessman has consistently been ranked as one of the best investors ever and, subsequently, one of the wealthiest people in the world.

    Through his ownership stake in Berkshire Hathaway, Buffett currently has a net worth of about $114 billion. But in 1985, it was closer to $500 million and his name recognition was a lot lower.

    That year Buffett sat down with host George Goodman of the PBS show “Adam Smith’s Money World,” in what is thought to be Buffett’s first-ever national TV interview.

    What’s striking is how consistent Buffett’s views towards investing have been nearly 40 years later. These are the best pieces of investment wisdom he shared.

    1. Number one rule

    “The first rule of an investment is don’t lose. And the second rule of investment is don’t forget the first rule. And that’s all the rules there are. If you buy things for far below what they’re worth, and you buy a group of them, you basically don’t lose money.”

    2. Most important quality for investment manager

    “It’s the temperamental quality, not an intellectual quality. You don’t need tons of IQ in this business. I mean, you have to have enough IQ to get from here to downtown Omaha, but you do not have to be able to play three-dimensional chess or be in the top leagues in terms of bridge playing or something of the sort. You need a stable personality. You need a temperament that neither derives great pleasure from being with the crowd or against the crowd because this is not a business where you take polls. It’s a business where you think.”

    3. What most investors get wrong

    “They do not really think of themselves as owning a piece of a business. The real test of whether you’re investing from a value standpoint or not is whether you care whether the stock market is open tomorrow. If you’re making a good investment in a security, it shouldn’t bother if they closed down the stock market for five years.”

    4. On checking stock prices

    “All the ticker tells me is the price. And I can look at the price occasionally to see whether the price is outlandishly cheap or outlandishly high but prices don’t tell me anything about a business. Business figures themselves tell me something about a business, but the price of a stock doesn’t tell me anything about a business. I would rather value a stock or a business first, and not even know the price, so that I’m not influenced by the price in establishing my valuation and then look at the price later to see whether it’s way out of line with what my value is.”

    5. Omaha versus Wall Street

    Nebraska: “Well, believe it or not, we get mail here and we get periodicals and we get all the facts needed to make decisions. And unlike Wall Street, you’ll notice we don’t have 50 people coming up and whispering in our ear that we should be doing this or that this afternoon.”

    New York: “If I were on Wall Street I’d probably be a lot poorer. You get overstimulated on Wall Street. And you hear lots of things, and you may shorten your focus and a short focus is not conducive to long profits.”

    6. Not owning technology stocks

    “I really haven’t [ever bought a technology company]. I haven’t understood any of them. Never owned IBM. Marvelous company, I mean a sensational company, but I haven’t owned IBM.”

    7. Missing market trends

    “I don’t have to make money in every game. I mean, I don’t know what cocoa beans are gonna do. There are all kinds of things I don’t know about, and that may be too bad. But you know, why should I know all about it? I haven’t worked that hard on it.”

    8. Waiting for the right pitch

    “There are no called strikes in the business. The pitcher just stands there and throws balls at you… You don’t have to swing at any of them. They may be wonderful pitches to swing at, but if you don’t know enough, you don’t have to swing. And you can sit there and watch thousands of pitches and finally get one right there where you wanted something that you understand, and then you swing.”

    9. Market timing

    “If I were being asked to participate in a business opportunity, would it make any difference to me whether I bought it on a Tuesday or a Saturday or an election year or something? It’s not what a businessman thinks about in buying businesses. So why think about it when buying stocks? Because stocks are just pieces of businesses.”

    Read the original article on Business Insider

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  • Charlie Munger Shares Tips for Success, Smart Investing | Entrepreneur

    Charlie Munger Shares Tips for Success, Smart Investing | Entrepreneur

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    This article originally appeared on Business Insider.

    Charlie Munger trashed cryptocurrencies, warned the AI buzz seems overblown, and praised Zoom for keeping him connected during his closing keynote at Zoomtopia on October 4.

    Warren Buffett’s business partner and Berkshire Hathaway‘s vice-chairman also shared some of his best tips for achieving success in business and life at the private event, including hard work, discipline, saving, and investing.

    The 99-year-old investor’s conversation with Zoom CEO Eric Yuan was a special treat for in-person attendees of the video-conferencing company’s annual gathering, and hasn’t been shared online, a Zoom spokesperson told Insider.

    We spoke to six people who were in the room, and Zoom confirmed their recollections of Munger’s key points were accurate. Here are their comments, lightly edited for length and clarity:

    1. Tobi Tungl, chief marketing officer at CTI:

    “The main takeaways were his opinion on AI being a bit overdone in the market, and his opinion that crypto was never anything. Memory serves me that he said ‘overly hyped’ or similar. He had some stories on how AI has been around for over 50 years, but we are just bringing it to the surface as of late.”

    2. Craig Durr, research director at The Futurum Group:

    “Munger shared his seasoned perspective on crypto and AI – both of which he was skeptical about. Yet, with nearly a century of wisdom and a financial track record to match, his views command respect. Eric Yuen chose to acknowledge rather than dispute. After all, when a legend speaks, the room listens.”

    3. Mark Friedler, CEO of Gigex:

    “Munger had a wry and great sense of humor. He was super negative about crypto and called it a scam. He said communications help drive business, and business success is about focus and consistency. Like Warren Buffett, he didn’t see large success until later in life, and only massive success after his 60s.”

    4. Eric Kunnen, senior director of IT innovation and research at Grand Valley State University:

    “Charlie loves Zoom and uses it frequently for business and to keep in touch with his family, as it’s difficult for him to travel. His business advice was to build a better product or offer a better solution, that it’s all about competition, and that successful people are those with the acumen to understand life better than everyone else. He said it’s up to you to work harder and better than the next person.

    Charlie also said investments are better than money in the bank, and it’s important to go to the office to work in person.”

    5. Melody Brue, VP and principal tech analyst at Moor Insights & Strategy:

    “I think my biggest takeaway — and probably a big reason for having him — was that Charlie stays connected to people through Zoom at 99 when he doesn’t get out as much as he once did. There are physical limitations at that age and Zoom has kept him engaged.

    Charlie spoke about working to get ahead. He said to ‘spend less than you make,’ and invest the money you save.

    Eric had a plate of donuts with him on stage, and Charlie made the point that donuts aren’t good for you, but you can have them every now and then. You have to be disciplined though, and know that you can only have so much for it to not be bad for you. It was cute and it illustrated Charlie’s mental discipline.

    Charlie also talked a lot about poker and trust. I don’t think he was necessarily saying you can’t trust people, but there was a bit of caution about people’s motives in business, and how you have to be good at reading them — and be a good ‘poker player’ yourself when necessary.

    He was very funny and the conversation between him and Eric felt like watching old friends catch up – not a typical ‘celebrity’ keynote that are pretty much all the same. They gave away a copy of Charlie’s book upon exit. The books were gone in seconds!”

    6. David Maldow, founder and CEO of Let’s Do Video:

    “Charlie had a few good jokes about his age. I think he used the old standby about how ‘it’s great to be anywhere’ at the start. He is 99, but his thoughts are all coherent and he is charming and funny.

    “There were a few moments where Eric was asking about taking risks, and seemed to expect Charlie to encourage risk-taking, but Charlie seemed risk-avoidant. He gave the impression that he didn’t get rich from wild, risky investments, but from not being stupid. Basic, smart investments and hard work.

    Eric even brought up the topic of poker as part of the risk discussion. Eric wanted to know how Charlie would play poker with a cheater at the table. Charlie’s answer was that he wouldn’t play poker with that person, and he only plays poker with people that he can beat. The implication was that was how he wins at business at well.

    The big, heartwarming moment was when he explained how his entire family does big Zoom meetings, and it’s a very big deal for him because traveling is too hard for him now due to the wheelchair. He said that being able to see them all, despite his failing eyesight, meant so much to him.”

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    Theron Mohamed

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  • Berkshire Hathaway’s Profits Rise

    Berkshire Hathaway’s Profits Rise

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    Berkshire Hathaway’s Profits Rise

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  • Warren Buffett Isn’t Worried About the Fitch Downgrade

    Warren Buffett Isn’t Worried About the Fitch Downgrade

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    This copy is for your personal, non-commercial use only. To order presentation-ready copies for distribution to your colleagues, clients or customers visit http://www.djreprints.com.

    https://www.barrons.com/articles/warren-buffett-berkshire-hathaway-fitch-downgrade-t-bills-2a6d71a9

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    Berkshire Hathaway


    CEO Warren Buffett says he’s not concerned about the Fitch downgrade of the U.S. government’s credit rating, saying his company continues to buy $10 billion of Treasury bills each week.

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  • 3 Lessons I Learned from Speaking at a Berkshire Hathaway Event | Entrepreneur

    3 Lessons I Learned from Speaking at a Berkshire Hathaway Event | Entrepreneur

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    When delivering keynotes my mission is rather simple. I just want to help my audience build their resilience, reputation and revenue. However, during a recent speaking engagement in Last Vegas, a series of mishaps and meaningful interactions taught me the same lesson.

    And I know, “What happens in Vegas stays in Vegas”, but sometimes the experiences are too good to keep to yourself. Especially if my story will help you avoid common pitfalls and build your business.

    So, here’s what I learned.

    You must advocate for yourself

    The Berkshire Hathaway conference took place in Las Vegas. Honestly, I’m not the biggest fan of Vegas since I’m married, I don’t drink and I don’t gamble. So it’s not quite the “adult playground” I’m looking for.

    However, I had a pleasant surprise upon arriving at the airport. I ran into a good friend from college, Anne Magur, who I haven’t seen in almost 10 years. We caught up for a few minutes before parting ways, I then hopped in a Lyft en route to my hotel.

    That’s when I was hit with a not so pleasant surprise. While attempting to check in I was told my hotel room was no longer available. Why? My hotel was booked from March 26-March 29th. I arrived on March 27th, so they gave my room away.

    Should I have noticed and corrected this in advance?

    Yes.

    Did I?

    No.

    And I should note, later on the organizers graciously expressed their empathy for my situation and let me know I could call them immediately if something similar ever happened again.

    Back to my story. The front desk agent then proceeded to tell me the hotel was completely booked, but the Horseshoe hotel might have rooms available.

    By now it’s after midnight and I’m tired after flying in from New York City. There’s no way I’m going to walk around Las Vegas hoping to find a hotel room when one was already booked for me. I asked to speak to her manager about it. She said I couldn’t, but she would for me. Two minutes later she came back with the same response “There are no rooms available, try the Horseshoe”.

    I’m going to fast forward a bit. She went back and forth between me and her manager for ten minutes before the manager suddenly found an open room for me at the hotel. Was I annoyed? Yes, but the situation was resolved and venting wouldn’t help. Instead I just asked her manager a simple question.

    “Why did this have to be so hard?”

    And, I’m sure you’re going to have to ask yourself that same question in the very near future. Maybe it’s in regard to a client taking forever to pay, or being disrespected during a meeting.

    You’re going to want to give up. Don’t.

    Instead, fiercely advocate for yourself and demand the respect you rightfully deserve.

    Be Yourself

    My friend and award-winning social video expert, Kim Rittberg, was speaking at the same conference. She got in earlier that day and recorded a quick video from the event. I watched it as I was unpacking in the hotel room.

    The video was great but here’s what stood out to me; all the guys were wearing blazers, most were wearing suits. I was planning on wearing sneakers, BYLT pants that kinda look like slacks and a hoodie. But once I saw all those guys in suits I started second guessing myself.

    I was tempted to rush out and see if I could buy something that would help me fit in more. I even thought to myself “a lot of people unexpectedly get married in Vegas, there must be somewhere I can buy a suit in the middle of the night.”

    And if you’re following along the answer is “yes”. That same guy who wouldn’t look for a hotel room at midnight suddenly felt compelled to go shopping at 1am.

    But then it hit me. These people all paid to see me on stage. I’m a keynote speaker, I deserve to be here, and I can’t deliver the experience they’re looking for if I’m not comfortable.

    Back to you.

    There will be times when you feel like you have to change who you are to fit in. Maybe it’s the way you dress, do your hair or how you talk.

    You’re going to want to conform. Don’t.

    The best version of yourself is all you need to be, but you can’t do that if you’re pretending to be someone else.

    Challenge yourself

    After my presentation this guy in a really nice suit walked over to me.

    I was immediately disarmed by what he said; “Nice shoes, I need to start wearing sneakers too. These events are great but my shoes are so uncomfortable I sometimes skip sessions because I don’t want to walk that far.”

    He then told me how much he appreciated the session I led and was looking forward to sharing the key takeaways with his team.

    Normally I would have just said something along the lines of “That’s so great to hear, I’m glad you found value in my session . . .” But then I thought to myself; now is the perfect opportunity to pitch your LinkedIn training program. Just bring it up and see what happens.

    I pitched him on my LinkedIn training program and he only had one question “Can you lead it remotely?”

    That’s it. No questions about cost, references, none of that. I already proved my worth on stage and he was ready for more.

    Your turn.

    At times you’ll be afraid to pitch a prospect or partnership opportunity. Don’t let that hold you back. If you ask, the answer will be yes or no. But if you don’t ask, the answer will definitely be no.

    Next Steps

    I love feedback! If you have any questions or suggestions for future podcasts please connect with me on LinkedIn or Instagram.

    Listen to the full episode below.

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    Terry Rice

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  • Berkshire Hathaway’s Buy in Truck-Stop Group Pays Off

    Berkshire Hathaway’s Buy in Truck-Stop Group Pays Off

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    Berkshire Hathaway


    investors may soon get a read on one of the company’s better deals in the past decade—a 2017 purchase for nearly $3 billion of a 38.6% interest in Pilot Flying J, the country’s leading operator of truck stops.

    The Berkshire Hathaway (ticker: BRK/A, BRK/B) stake in the company will rise to 80% in the current quarter under the terms of the original agreement reached by CEO Warren Buffett with the founding Haslam family, which will retain the remaining 20% stake.

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  • The Top Luxury Home Builder Is a Buy for 2023

    The Top Luxury Home Builder Is a Buy for 2023

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    This article is an excerpt from “Here Are Barron’s 10 Top Stocks for the New Year,” published on Dec. 16, 2022. To see the full list, click here. 

    With home builder


    Toll Brothers


    ‘ stock down 30% this year, it might look like the roof is caving in. But that’s probably not the case. Yes, mortgage rates have doubled, but Toll (ticker: TOL), the top luxury home builder, is more insulated than its peers, due to the affluent buyers of its homes, which sell for an average of about $1 million. About 20% of Toll buyers pay cash, and many are selling homes for a lot more than they paid for them.

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  • Buffett’s Likely Successor Buys $68 Million of Berkshire Stock

    Buffett’s Likely Successor Buys $68 Million of Berkshire Stock

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    Berkshire Hathaway


    Vice Chairman Greg Abel, the likely successor to CEO Warren Buffett, bought about $68 million of the company’s shares last Thursday in what appears to be his first purchases of Berkshire stock since he assumed the position in 2018.

    In several Form 4 filings Monday with the Securities and Exchange Commission, Abel disclosed that he purchased 168 Berkshire Hathaway (ticker: BRK/A, BRK/B) Class A shares through the Gregory Abel Revocable Trust on behalf of his wife, children, and other family members.

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