Berkshire Hathaway Inc (BRK.A)

[fung_derf]

I was just giving my opinion from a chart perspective. The good news is it lead me to $FANG, which I may soon add. I've found some good stocks before while investigating others.
Warren rarely asks my opinion though and apparently I've missed my last chance to ask him a question at the annual meeting.

[Prudent Capitalist]

fung: My only exposure to OXY is through our large BRK positions. I posted that over on the BRK.B board in response to some discussion regarding OXY and also posted it here. It caught my eye on the OXY quote on my iPhone stock stuff. We used to own a large position in Anadarko years ago and it was a great holding back then.

[fung_derf]

OK, but not the highest or recommendations....

Morningstar doesn’t think Oxy has carved out an economic moat, due largely to the expensive acquisition of Anadarko Petroleum in 2019, which dented Oxy’s profitability. But management has been deleveraging the company’s balance sheet, and we think the books look better than they have in several years and that the company is on the cusp of consistently earning its cost of capital. The stock looks cheap today. We think Oxy’s stock is worth $59 per share.

I'm looking at analysts price targets and they range between $48 and $60.58......I already gave my target price.
The P/E is only slightly lower than its competitors. But if you go by that, $FANG is the better buy. And better dividend....in fact, I may need to buy some FANG now.

[Prudent Capitalist]

The Morningstar analyst's opinion and article was just issued yesterday, May 13th.

[fung_derf]

Funny, I was looking at it yesterday. I'd say it is definitely NOT one to buy today. Long way to resistance, and the longer term trend on it has been awful! I see it going up to $48-49, then falling again....and the dividend ain't that great (although it has been rising back up since 2020).

[Prudent Capitalist]

This Warren Buffett Stock to Own Forever Is a Buy Today

Buffett expects to own some stocks indefinitely—and one of those stocks looks cheap today.

This Warren Buffett Stock to Own Forever Is a Buy Today

1. Occidental Petroleum OXY

What stock is that? It’s Occidental Petroleum OXY. Berkshire owns more than 28% of the company’s outstanding shares. Oxy is one of the world’s largest independent oil and gas producers. Buffett thinks the company’s leadership position in carbon capture initiatives could bear fruit, too. Morningstar doesn’t think Oxy has carved out an economic moat, due largely to the expensive acquisition of Anadarko Petroleum in 2019, which dented Oxy’s profitability. But management has been deleveraging the company’s balance sheet, and we think the books look better than they have in several years and that the company is on the cusp of consistently earning its cost of capital. The stock looks cheap today. We think Oxy’s stock is worth $59 per share.

https://www.morningstar.com/stocks/this-warren-buffett-stock-own-forever-is-buy-today-2

[Saving Grace]

The dismantling begins. A and B

[fung_derf]

I've researched that and it all looks good, but I may have made more in the stocks I did buy. So hard to tell as some of my stocks are reinvested and some not.
Instead I bought APPL and MSFT and SMCI and KO and so many others.....admittedly, buying just one stock would have been less work, but over 20 years would I have sold all as I have with other stocks at times? I used my gains of 4 months back in 2020 to pay cash for a house, so liquidating some of the A shares would have been tough.
In short, maybe would have been better off. Maybe not.
I will say, based on a 1 year return, I slightly outpaced Warren. Of course, it depends on what day you took a snapshot. I've given back lately

[Prudent Capitalist]

If you invested $1,000 in Warren Buffett’s Berkshire Hathaway 10 years ago, here’s how much you’d have now:

Here’s how much a $1,000 investment in Berkshire Hathaway would be worth today, depending on when that investment was made — based on its May 8 closing price for Class B shares.

If you invested one year ago:
Percentage change: 26.3%
Total: $1,263

If you invested 10 years ago:
Percentage change: 246.1%
Total: $3,461

If you invested 20 years ago:
Percentage change: 817.8%
Total: $9,178

https://www.cnbc.com/2025/05/09/what-an-investment-in-berkshire-hathaway-10-years-ago-is-worth-now.html?msockid=1fefd4828a93610e1a9fc7d88bf16038

[bar1080]

Yep, thought you meant that Berkshire Hathaway has excellent chocolate cake.

[fung_derf]

https://www.portillos.com/menu/restaurant/shakes-and-malts/

does this help?

[fung_derf]

Welllll, chocolate comes from cocoa mixed with sugar....I don't understand the question...."explain chocolate cake"?

[bar1080]

Fung; "BTW, they have excellent chocolate cake." explain

[fung_derf]

meh. I think they are overrated. They've just opened two not far from me. They were packed for the first few months.
I'm just as happy going to a Sonic for a long cheese coney.

[gotmilk]

"Lord won't you buy me a Mercedes Benz"?

Better yet "Lord won't you open a Portillo where I live."

[fung_derf]

I think there is a Berkshire fund or something who owns some. Warren seemed perplexed.

BTW, they have excellent chocolate cake.

[bar1080]

Thanks Fung & PC. Portillo's is real. The BRK connection isn't apparently. I wonder whether the question was a "plant" or a genuine mistake. PTLO is off 3.2% today.

[fung_derf]

Portillo's are popping up all over Texas. I knew of it from the one in Indy that my daughter loved.

[Prudent Capitalist]

It was a question from a mistaken meeting attendee. Buffett responded to the question stating that he had never heard of it and did not believe it was part of Berkshire Hathaway. You just posted the link regarding the telephone call Greg Abel had while on stage confirming it is neither connected nor owned by Berkshire Hathaway.

[bar1080]

But Buffett recently mentioned Portello's as I recall. Said he wasn't familiar with it. Barron's called it mysterious
* https://berkshirepartners.com/portillos-restaurant-group-announces-investment-from-berkshire-partners/

* https://berkshirepartners.com/our-firm/background-and-history/
Zero chance I'd buy PTLO a small Italian beef/hot dog restaurant chain which is off about 50% since its IPO a few years ago.

The Case of the Mysterious Chicago Hot Dog Maker
https://www.barrons.com/livecoverage/berkshire-hathaway-earnings-warren-buffett-annual-meeting/card/the-case-of-the-mysterious-chicago-hot-dog-maker-ONIKEfmlPfbdXJNrWlTo

https://www.reddit.com/r/ChicagoSuburbs/comments/1fvlcvg/portillos_stock_has_tumbled_around_65_since_its/

[Prudent Capitalist]

It has nothing to do with BRK, and likely just likes the name. it is a private investment firm.

[Saving Grace]

Super Duper dump fest is near. I don't believe Buffett will last that long or if he's gone already. World news said it isn't even him anymore. What that means, I don't know. Globalists are being torn apart, Inside out! LoL SMH

Nobody knows who's really calling the shots anymore. Shareholders are in for a surprise. Now you see him, now you don't. RUN!

Warren Buffett Confronts His Own AI Deepfake and Offers a Warning

The ‘Oracle of Omaha’ told Berkshire Hathaway shareholders the fabricated video was good enough to convince him to send money overseas, and said AI has both unrealized upside and ‘enormous potential for harm.’

https://www.inc.com/associated-press/warren-buffett-confronts-his-own-ai-deepfake-offers-a-warning.html

[bar1080]

PC, what do you know about Berkshire Partners which was mentioned Saturday in reference to Portillos, the Chicago area restaurant chain.

[Prudent Capitalist]

Read the entire article I posted to you last week per the link below, and you will not think Susie and Howie Buffett will be looking over Greg Abel's shoulder. They both have immense respect and trust in him.

https://investorshub.advfn.com/boards/read_msg.aspx?message_id=176132233

[fung_derf]

Yeah, his retirement speech sounded like he didn't want to let go. Poor Doug...or Dan...or Dave...or whatever his name is. He's gonna have Warren and maybe family looking over his shoulder.

[Prudent Capitalist]

A and B shares are down around 4%, but let's remember that is down from the all-time closing highs set by both classes of shares on Friday heading into the meeting. And, the Board voted yesterday that Warren will remain as Chairman of the Board. As he said, he will be in the office daily and will still be involved.

[fung_derf]

Warren says he's retiring, stock down $31k.....way less than I expected.
Maybe the shareholders have faith, maybe they are in wait and see.
I watched the whole meeting on Saturday and found both that Buffet has a great memory for lots of stuff....and it was 3 1/2 hours of listening to a 90 year old reminisce.
I'm sure had he made me a bunch of money over the years, I would have stood and applauded for 10 minutes as well

[fung_derf]

I taped. I'll need to watch the rest.

[Prudent Capitalist]

The meeting ended with a bang and very long standing ovation after Warren Buffett concluded the meeting with an announcement know only to his 2 children on the Board prior to this, that at tomorrow's Board meeting he will recommend to the Board that Greg Abel take over as CEO affective at the end of this year.

[bar1080]

Oldest known YT video of Buffett. From Omaha TV in 1962

[bar1080]

Most amazing to me is Buffett can pontificate for hours without the dozen bathroom breaks I'd require. Warren always talked like that which can be annoying. Youtube has some very old videos of the 'boys.'

[fung_derf]

I'm watching the Q&A at the meeting. Amazed by Warren's memory, but I'm assuming his rambling isn't so annoying if he's making you money.

[Prudent Capitalist]

Sent you a PM. I can only PM during Happy Hour for the one hour on Fridays after the market closes when we all can.

[bar1080]

LOL, so good that even my long-suffering son who's an engineer for Boeing is making money. 19 of my 20 individual stocks are up today. Plus a fat div increase from RTX.

"ARLINGTON, Va., May 1, 2025 /PRNewswire/ -- RTX (NYSE: RTX) announced today that its Board of Directors declared a dividend of 68 cents per outstanding share of RTX common stock, which represents an increase of 7.9 percent over the prior quarter's dividend amount. The dividend will be payable on June 12, 2025 to shareowners of record at the close of business on May 23, 2025."

[Prudent Capitalist]

It is a thing of beauty! and, since then $242's have printed for the B shares, and $812,0000's have printed for the A shares. Many new ATH's here today.

[bar1080]

Is that pretty!

[bar1080]

Lots of my holdings are at or very close to ATHs. My Carrier doing well. Boeing, TRV, RTX and Cintas very strong.

[Prudent Capitalist]

BRK hitting new ATH's this am. Great coverage live from Omah on CNBC already today and more coming up in a few minutes.

[bar1080]

Safe to think Buffett might buy more BRK and perhaps OXY. Or the Japanese trading houses. My sons are slightly mad that I bought BRK for myself years ago, but none for them. My kids are perhaps too timid about making major investment decisions. OTOH they're really afraid of losing money, which is a good quality. I didn't give life to any slobbering gambling addicts.

[fung_derf]

If you think like them, tell us what stock he is going to buy next?.....and more Coke in not an acceptable answer.

[bar1080]

Appreciate that PC, but I've at least skimmed just about every book about Buffett and his family. I've gotten so I much like WB and Charlie that I think like them without knowing it. I don't work at copying Buffett. It's something that comes naturally to me nowadays.

[Prudent Capitalist]

bar: Even though I cannot make the meeting, I will be at a small event this evening with Robert Hagstrom, who wrote one of 2 authorized biographies of Warren Buffet, The Warren Buffet Way. He is in for other appearances in connection with the meeting, and our Financial Advisors are very close with him, so he does a small event for them at our Country Club on Wednesday evening every year prior to the meeting. I met hm there last year. There is a Q&A, so if you have a question, I would be happy to raise it. Mr. Hagstrom is with Equity Compass, and started and runs the Global Leaders portfolio strategy, in which we are invested.

Robert G. Hagstrom's Biography
Mr. Hagstrom is Chief Investment Officer of EquityCompass Investment Management, LLC and Senior Portfolio Manager of the Global Leaders Portfolio. He joined EquityCompass in April 2014 and launched the Global Leaders Portfolio in July 2014. Robert was appointed Chief Investment Officer in March 2019. Robert has more than 40 years of investment experience. Prior to joining EquityCompass, for 14 years he was the Senior Portfolio Manager of the Growth Equity Strategy at Legg Mason Capital Management led by Bill Miller who was the portfolio manager of the Legg Mason Value Trust. Robert received “Honorable Mention” recognition in Morningstar’s Domestic-Stock Fund Manager of the Year in 2007 while with Legg Mason.* Robert is the author of seven investment books including The New York Times Best Seller, The Warren Buffett Way, widely considered the definitive book on investment approach and strategies of Warren Buffett. The book, now a Wiley Investment Classics, has sold over one million copies worldwide and is translated into 18 foreign languages.§ In addition, Robert wrote The Warren Buffett Portfolio: Mastering the Power of the Focus Investment Strategy, the first book to examine concentrated, low-turnover portfolio management. Robert also wrote Investing: The Last Liberal Art, a multi-discipline examination of investing and decision making. Robert earned his Bachelor’s and Master’s of Arts degrees from Villanova University. He is a Chartered Financial Analyst, a member of the CFA Institute, and the CFA Society of Philadelphia.

Source: EquityCompass Investment Management, LLC on 11/18/2024

[Prudent Capitalist]

Warren Buffett's successor is a deal-making business whiz who never misses his son's hockey games

https://omaha.com/news/local/business/article_5a02fb17-e783-4060-8e8e-d270cd70e019.html#tracking-source=mp-homepage

Excellent article about Greg Abel, Vice Chairman of BRK who will replace Warren Buffett some day.

[Prudent Capitalist]

There is something pretty surreal about watching Warren Buffett, Bill Gates and a couple of other famous folks playing bridge each year in the courtyard area of Regency Fashion court outside of Borsheims, the largest jewelry store in the World.

[fung_derf]

LOL...sounds like trying to catch Walt Disney....who knows how many years have left

[Prudent Capitalist]

Millard, Blair, etc. but they typically all get booked also. what you have with the BRK annual meeting is 45,000 - 50,000 very wealthy people flying in and many have their own planes. If you come you really want to take in the entire weekend of Friday activities, including the product exhibition area, Borsheim's, the meeting Saturday and the outdoor barbeque at NFM, trying to catch Warren Buffett at Gorats or Dairy Queen, the Sunday stuff out at Borsheims, 10K Brooks shoes run, Warren paying ping pong and bridge out at Borshaeim;s, etc.

[fung_derf]

I was gonna ask about hotels in Omaha.
Although, we'd fly in and fly out so not a problem.....surely there are several small airports for small planes in the area?

[Prudent Capitalist]

Agree. At this late date you would not be able to find accommodations for this year's event. Every hotel in Omaha typically sells out long before the meeting, as well as VRBO's and AirBNB's, and that forces a lot of visitors to stay over in Lincoln. Not to mention reservations at the private aviation terminal at OMA are booked long in advance. I have seen pictures of all of the private jets there over the meeting weekend and what they have to do to find parking for all the planes.

[fung_derf]

Yeah, but not the same as being there, like the Masters

[Prudent Capitalist]

CNBC will have extensive live coverage, including the entire meeting on Saturday. Becky Quick typically also goes live from Omaha during the morning show, and also typically has Warren Buffett and Bill Gates, etc. on live on Monday am.