Berkshire Hathaway Inc (BRK.A)

[Prudent Capitalist]

Big shot in the arm for BRK and Warren Buffett this morning in the form of the blowout earnings report out of legacy BRK holding American Express (AXP). As Jim Cramer noted on CNBC this am, this represents the 8th straight quarter of AXP reporting 8%+ growth. He also noted that one of the reasons is that the American Express Card is one thing that Millennials will "not leave home without". Over 50% of new accounts opened of late are to Millennials. Great news for BRK and Warren Buffett, given that he was criticized a number of years ago for holding onto his huge AXP position for so long even if at a huge profit.

Let's look at the numbers as of a little over a year ago on December 31, 2018, as detailed in last year's BRK annual report. As of 12/31/18, BRK's AXP holdings were as follows:

151,610,700 shares, or 17.9% of AXP at an acquisition cost of $1.287 Billion

Market Value as of 12/31/18: $14.452 Billion

And, AXP is trading well over 40% higher now. Wonder if AXP bought back any shares since then, which would increase BRK's then 17.9% of the company.

All Great Stuff!