Berkshire Hathaway Inc. (B) (BRK.B)

More or less fair value on valuation. Ran up with market volatility, as it's always a safe haven. Buffett's retiring, end of an era. Greg Abel has the chops, an excellent operator. Excited to see how he'll use the cash balance and improve operations. Insurance stocks have pulled back, making this an attractive entry. 

Great proxy for growth of the US economy. Will really benefit from trends of AI and electricity demand. No dividend.

Sitting on $300B or so of cash. Some of that will have to be used to buy back his shares when Warren does depart. Such a huge conglomerate, that they have to make bigger and bigger acquisitions to move the needle on earnings. And they're not finding those right now.

Over time, you'll probably get a 10% compound annual return. Doesn't own it because unsure what will happen once Warren really leaves or dies.

"Expensive" in terms of price per share is actually becoming less relevant because you can now buy fractional shares through some of the discount brokerage platforms. He doesn't own, but would be comfortable doing so. Today's as good a day as any to buy.

Good investment? Yes. Buffet is retiring and will be missed. Many people have learned a lot of valuable and timeless investing lessons from him. Berkshire has done a great job of planning succession and governance well, so the successor will have a good start. If Greg Abel has the endorsement of Buffett, that's good enough for his firm.

Portfolio of robust and resilient businesses with wide, competitive moats, and demonstrated history of generating free cashflow and paying dividends. Don't read too much into the cash hoard. It likes to be cash rich and patient, so it can write the big cheques when opportunities come along when there's blood in the streets.

It'll be a stable company moving forward, because it's diversified. Mainly in insurance, which is doing a lot better than banks right now. Set up to continue to grow over time, it'll just depend on how Greg Abel and his team will allocate capital.

The end of Buffett's reign as CEO has been an overhang for many years, but it hasn't mattered because shares have performed so well. This is as good of a transition plan and exit that he has ever seen anywhere, at any company. Buffett painstakingly worked on this transition for years. Shares remain at record highs. He remains a forever shareholder. Buffett is the GOAT and belongs on Mount Rushmore alone. There's nobody like him.

FFH is in his Canadian dividend strategy. BRK.B is in his global strategy.

Both are insurance-driven companies that are partly holding companies. Diversified businesses. Breakup NAV (not that they'd ever be broken up) is significantly higher than current share price. And that makes both of these a buy. Both are in the lower-risk category of companies.

He added to it yesterday, based on how it was acting. Support ~$500. Chart has beat the S&P in all timeframes. Massive cash hoard. In markets like these, why not get some help from people who have a great legacy track record? Even once Warren's gone, the successors will follow his guiding principles. No dividend.

Best capital allocator in the world, and probably the best investor of all time. Sitting on a record pile of cash. Be cautious, as it's exposed to the equity markets. Built to withstand the storm. Long term, takes advantage of unique opportunities in the market. Well positioned to outperform the broader market over an extended period of time. High faith in succession plans.

It's doing very well in this environment, given their cash level and reputation. But they trailed in 2023-4 when they were building that sword. A two-edge sword. If there's a recession, this will look very good, but if this is a typical correction and return to new highs, we'll see what they do to the cash. Buffett probably has one or two targets in his sights.

(Note the short timeframe.)  A value and defensive play. Still holds, as he'd rather have value than growth. Mags 7's have imploded, while this stock's gone up. 

Going back to 2008, chart shows a beautiful long-term channel, trading between book value and 1.5-1.6x book. Today it's at 1.6x book, so it's very expensive.

Be aware that the market's are also very expensive, and this one goes up and down with the market. What stands out is that about 1/3 of Buffett's portfolio is in cash. If an investor were buying cash, he'd want to buy it at book, not 1.6x book. So, discounting the cash, you find that the stock is 18% overvalued. 

The 1/3 cash position gives investors a hint as to what they should be doing with their own portfolios. Cash is a call on cheap stocks in the future. Wait for an opportunity.

Buffett holds $300 billion, but he's holding some serious stock positions. It's great to ride along with one of the greatest investors of all times, and the extra cash provides a hedge. If there's a dip, Buffett is in a great position to buy. He expects a dip, but not a crash. Recent earnings season was overall positive.

Not 100% correlated to the S&P, so tends to have a slightly different profile. And yet, it's a way to play the US markets on a fairly broad basis. Won't necessarily have all the downside if the market falls. In an uptrend, though it's pulled back just like everything else. Worth picking up anytime it pulls back to the trendline. No dividend.

It's one of those things you really can hold on to for a while, and he holds onto hardly anything.