Charlie Munger on complex DCF models
Source: Brian Feroldi
Hedgeye cartoon on the Fitch downgrade
source: Hedgeye
Berkshire Hathaway on Saturday reported a solid increase in second-quarter operating earnings, while the cash hoard at Warren Buffett’s conglomerate swelled to nearly $150 billion.
The Omaha-based giant’s operating earnings — which encompass profits made from the myriad of businesses owned by the company, like insurance, railroads and utilities — totaled $10.043 billion last quarter, 6.6% higher than the figure from the same quarter a year ago. Net income totaled $35.91 billion, compared with a $43.62 billion loss during the second quarter last year. The strong results were bolstered by a jump in Berkshire’s insurance underwriting and investment income. Berkshire reported a near $26 billion unrealized gain from its investments as its gigantic stake in #Apple led the market rally in the second quarter. The tech giant soared nearly 18% during the quarter and Berkshire’s bet has ballooned to $177.6 billion. The “Oracle of Omaha” trimmed his Chevron stake by $1.4 billion to $19.4 billion at the end of June. Berkshire’s massive cash pile grew to $147.377 billion at the end of June, near a record and much higher than the $130.616 billion in the first quarter. Share repurchase activity slowed down as the conglomerate’s stock climbed back to a record high. The company spent just about $1.4 billion in buybacks during the quarter, bringing the year-to-date total to $5.8 billion. Link to CNBC article: $BRK Berkshire Hathaway Q2 FY23: • Segment margin 12% (-1pp Y/Y). • $AAPL Apple stake now worth $178B. • Stock repurchase $1.4B ($4.4B in Q1). • Cash and short-term securities $147B. Source: App Economic Insights, CNBC
Speaking from experience
Source: AZ Quotes
Goal Setting!
Source: European Leadership
In the end, cashflow is all what matters
Source: Compounding Quality, Chris Quinn
Congrats to Warren Buffett as Berkshire Hathaway $BRK.A closed at an all-time high today. Buffett's 15% ownership in the company is now worth $118 Billion.
Source: Barchart
Why fees matter, visually:
Source: Brian Feroldi
