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Lessons From Warren Buffett

Lessons From Warren Buffett: Start Saving Early — Your Future Self Will Thank You

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When it comes to building wealth, timing matters — and according to Warren Buffett, the best time to start saving is as early as possible.

At the 1998 Berkshire Hathaway Annual Meeting, Buffett emphasized the power of saving before life’s bigger financial responsibilities kick in. “Any money you save before you get out and start having a family … any dollar is probably worth $10 later on simply because you can save it,” he said.

Buffett’s point is simple but powerful: saving when you’re young — especially before starting a family — gives your money more time to grow through compound interest. Once family life begins, expenses inevitably rise, making it harder to set money aside.

Hear Buffett’s full explanation


See the complete Lessons From Warren Buffett series

© 2025 David Mazor

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.

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Jazwares

Berkshire’s Squishmallows Launches Joyful New Fragrance Collection at Ulta Beauty

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The plush toy phenomenon Squishmallows is expanding its signature charm into a brand-new category: fragrance. In partnership with Blue Meadow Brands, founded by scent industry veteran Joel Ronkin, the beloved brand owned by Berkshire Hathaway’s Jazwares has launched Squishmallows Fragrances, a debut collection of three mood-boosting perfumes inspired by its most iconic characters.

Crafted in collaboration with renowned fragrance house DSM-Firmenich and designer Lance McGregor, the collection blends sweet nostalgia with cutting-edge scent technology. Each fragrance features the exclusive Squishmallows Accord—a fluffy marshmallow-inspired scent enhanced by EmotiWaves™, a patented technology scientifically proven to boost mood and well-being.

The three debut scents include:

Whisked Away: A cozy vanilla amber gourmand inspired by Cam the Cat, with notes of caramel drizzle, vanilla latte, and sandalwood.

Pink Possibilities: A fruity floral green inspired by Patty the Cow, blending strawberry, kiwi, and pink sugar.

Moonlit Mist: A floral fruity gourmand inspired by Zumirez the Bat, with green apple, lychee blossom, and soft musks.

Each fragrance is available in 100 mL ($58), 30 mL ($38), and a 3-piece coffret set ($40). The bottles, designed by McGregor, mirror the rounded shapes of Squishmallows characters and feature a collectible bulb atomizer for extra “squishability.”

Launched October 5, 2025, Squishmallows Fragrances is available exclusively at Ulta Beauty stores and Ulta.com. For a limited time, customers will receive a free Squishmallows plush with the purchase of a 3.4 oz fragrance.

“We’re thrilled to welcome Squishmallows Fragrances into the Ulta Beauty family,” said Linda Suliafu, VP of Merchandising at Ulta Beauty. “It’s a joyful blend of scent, self-expression, and collectibility.”

The fragrances are vegan, cruelty-free, made with upcycled ingredients, and certified under four Conscious Beauty pillars at Ulta.

“Squishmallows continues to expand beyond toys into lifestyle,” said Gerhard Runken, EVP of Brand & Marketing at Jazwares. “This collaboration with Blue Meadow captures the essence of the brand—comfort, joy, and connection—now through scent.”

© 2025 David Mazor

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.

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Lubrizol

Lubrizol Launches New Foam Centers of Excellence in Asia to Drive Footwear Innovation

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Berkshire Hathaway’s Lubrizol, a global leader in specialty chemicals, has announced the launch of new Foam Centers of Excellence (COE) in Seoul, Korea, and Shanghai, China. These facilities, located within the company’s thermoplastic polyurethane (TPU) innovation centers, mark a significant step in Lubrizol’s commitment to advancing innovation, sustainability, and collaboration in the global footwear market.

The Foam COEs bring together material science experts, cutting-edge processing technologies, and robust testing capabilities to accelerate the development of high-performance, sustainable foam solutions for athletic midsoles. By integrating supercritical fluid and autoclave foam processing equipment, Lubrizol can streamline design-to-commercialization timelines and deliver rapid, data-driven insights for product validation.

“Asia Pacific is one of the world’s most dynamic consumer markets,” said Jane Cai, Senior Business Director for Asia Pacific. “Our Foam COE combines global expertise with local insight to create industry-leading TPU foam solutions.”

Physical foaming technology is gaining traction for its performance benefits and environmental advantages. With a local-for-global strategy, Lubrizol aims to meet regional demands while contributing to global innovation. “These new capabilities illustrate our dedication to swift, localized support with a broad, international impact,” added Justin Park, Director of Global Footwear Marketing.

Beyond technical innovation, the COEs are designed to foster collaboration across the footwear value chain—supporting rapid prototyping, technical service, and efficient manufacturing. This initiative not only empowers processors and brands but also sets the stage for the next generation of sustainable footwear solutions.

© 2025 David Mazor

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.

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Lessons From Warren Buffett

Lessons From Warren Buffett: What Most Investors Overlook in Financial Statements

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At Berkshire Hathaway’s 2025 annual meeting, Warren Buffett shared a rare insight into his investment approach, highlighting the importance he places on balance sheets over income statements.

Buffett revealed that he spends more time analyzing a company’s balance sheet than its income statement, noting that Wall Street tends to overlook this financial document. He explained that studying balance sheets over an 8 to 10-year period provides a clearer picture of a company’s financial health and stability. According to Buffett, it’s harder to hide or manipulate figures on a balance sheet compared to an income statement.

While acknowledging that neither financial statement offers the full picture, Buffett emphasized the value in understanding not only what the numbers reveal, but also what they omit, and how they may be influenced by management or auditors. He believes that balance sheets offer deeper insights than most investors realize, making them a critical tool for long-term analysis and informed decision-making.

Hear Buffett’s full explanation

See the complete Lessons From Warren Buffett series

© 2025 David Mazor

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.

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Acquisitions

Berkshire Hathaway to Acquire OxyChem from Occidental

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Berkshire Hathaway and Occidental today announced a definitive agreement for Berkshire Hathaway to acquire Occidental’s chemical business, OxyChem, in an all-cash transaction for $9.7 billion, subject to customary purchase price adjustments.

OxyChem is a global manufacturer of commodity chemicals vital to quality of life, with applications in water treatment, pharmaceuticals, healthcare and commercial and residential development.

“This transaction strengthens our financial position and catalyzes a significant resource opportunity we’ve been building in our oil and gas business for the last decade. I’m incredibly proud of the impressive work the team has done to create this strategic opportunity that will unlock 20+ years of low-cost resource runway and deliver meaningful near and long-term value,” said Vicki Hollub, President and Chief Executive Officer. “OxyChem has grown under Occidental into a well-run, safely operated business with best-in-class employees, and we are confident the business and those employees will continue to thrive under Berkshire Hathaway’s ownership.”

“Berkshire is acquiring a robust portfolio of operating assets, supported by an accomplished team,” said Greg Abel, Vice Chairman of Non-Insurance Operations at Berkshire. “We look forward to welcoming OxyChem as an operating subsidiary within Berkshire. We commend Vicki and the Occidental team for their commitment to Occidental’s long-term financial stability, as demonstrated by their plan to use proceeds to reinforce the company’s balance sheet.”

Occidental expects to use $6.5 billion of the transaction proceeds to reduce debt and achieve the target of principal debt below $15 billion set following the December 2023 announcement of its CrownRock acquisition. An Occidental subsidiary will retain OxyChem’s legacy environmental liabilities, and Glenn Springs Holdings Inc. will continue to manage existing remedial projects for that subsidiary.

The transaction is expected to close in the fourth quarter of 2025, subject to regulatory approvals and other customary closing conditions.

Berkshire already owns the Lubrizol Corporation, an American provider of specialty chemicals for the transportation, industrial and consumer markets.

© 2025 David Mazor

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.

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Lubrizol

Lubrizol Launches Lithium-Free HybriCal™ Grease Thickener for Modern Industrial Demands

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Berkshire Hathaway’s Lubrizol has introduced HybriCal™, a new lithium-free grease thickener formulation designed to meet the evolving needs of industrial applications. Built on an anhydrous calcium base, HybriCal™ offers a high-performance alternative to traditional lithium-based greases.

The formulation complies with the High-Performance Multiuse (HPM) Grease Specification set by the National Lubricating Grease Institute (NLGI), ensuring it meets rigorous industry standards. It delivers multiple manufacturing benefits, including lower processing temperatures and reduced dehydration times, enabling faster production and lower energy consumption.

HybriCal™ is suited for diverse applications such as bearings, mining equipment, and general manufacturing, making it a versatile choice across industries. Crucially, it offers a stable alternative to lithium-based greases amid rising regulatory concerns and price volatility. Being lithium-free, HybriCal™ avoids the recent provisional classification of lithium hydroxide as a Category 1A reproductive toxin by the European Chemicals Agency.

“With HybriCal™, Lubrizol provides a future-ready solution that combines performance, safety, and environmental responsibility, bringing manufacturers stability in a disrupted lithium market,” said Tim Saari, Grease Product Manager at Lubrizol.

© 2025 David Mazor

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.

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Lessons From Warren Buffett

Lessons From Warren Buffett: The Power of Scuttlebutt

Famed investor Phil Fisher, author of Common Stocks and Uncommon Profits, believed that successful investing requires much more than analyzing financial reports. He emphasized the importance of “scuttlebutt” — gathering informal information from people connected to a company, such as competitors, customers, and employees.

Warren Buffett strongly agrees. At the 1998 Berkshire Hathaway Annual Meeting, he said, “I followed [Fisher’s] scuttlebutt method.” Buffett explained that while reading is essential, nothing beats firsthand research: talking directly to those who interact with the business every day.

Buffett’s advice highlights a key investing lesson — real-world insights can offer an edge that numbers alone often miss.

Hear Buffett’s full explanation

See the complete Lessons From Warren Buffett series

© 2025 David Mazor

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.

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BNSF

BNSF and COFC Logistics Expand Intermodal Network Into Eastern U.S. and Mexico

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BNSF Railway and COFC Logistics announced a major expansion of COFC’s intermodal service network, extending coverage into the eastern United States and Monterrey, Mexico, through a partnership with GMXT.

The move will provide Intermodal Marketing Companies (IMCs)—particularly asset-light operators—with broader container availability, new market access, and scalable solutions across North America. The expansion includes entry into key Northeast and Southeast U.S. markets, along with seven new ramp pairs and enhanced service schedules tailored to IMCs.

“This expansion is about empowering IMCs with the tools they need to compete and grow,” said Jonathan Mulch, COFC Logistics Vice President of Sales and Marketing. “Our asset-light partners can now tap into a broader ecosystem with confidence in our service reliability.”

BNSF Group Vice President of Consumer Products Jon Gabriel added, “By opening and connecting a network across more of North America, we’re not just adding lanes—we’re adding opportunity to the supply chain.”

Luis Hernandez, GMXT Vice President of Intermodal, noted that the partnership strengthens capacity and service quality for cross-border trade.

With expanded container access, optimized schedules, and new market reach, the initiative aims to give IMCs greater flexibility, efficiency, and growth opportunities in the competitive intermodal logistics sector.

© 2025 David Mazor

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.

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HomeServices of America

Berkshire Hathaway HomeServices California Properties Appoints New Leadership: Sam Guillen and Alec Bruice Step into Key Roles

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Berkshire Hathaway HomeServices California Properties has announced the promotion of Sam Guillen to Broker of Record and Alec Bruice to Manager of Broker Administration, marking an exciting new phase for the company. Both leaders bring extensive knowledge of the company’s internal operations, strengths, and growth potential.

With 32 years in the industry, Sam Guillen has been an integral part of Berkshire Hathaway HomeServices California Properties since 2013. His experience spans various roles, including sales associate, Branch Manager, Director of Education and Training, and Vice President, providing him with a well-rounded perspective on every aspect of the business.

“I’m excited about the chance to reinforce our standing as one of the most professional, respected brokerages in the nation,” said Guillen. He also shared his pride in being the first Latino American to hold a senior executive role within the company. Guillen, a native of Downey, California, and a San Diego resident for the past 25 years, is committed to enhancing the client experience by strengthening the company’s training and communication platforms.

Known for his innovative leadership, Guillen launched Go Live, a live-streamed broadcast during the pandemic, which has since evolved into a weekly podcast. This platform continues to keep agents informed, offering valuable market insights and dynamic strategies. Guillen also co-produces a nationwide podcast with Jimmy Burgess, Chief Coaching Officer of HomeServices of America, providing industry insights from top producers.

Guillen emphasizes the importance of ongoing education and technology in the evolving real estate landscape. “Learning is essential to success because it allows us to identify new growth opportunities,” he said. “The key is to embrace the latest technology and leverage it for the maximum possible benefit.”

Alec Bruice: Leveraging Legal Expertise for Real Estate Success

Alec Bruice brings a unique blend of legal and real estate experience to his new role as Manager of Broker Administration. A former litigation attorney, Bruice transitioned to residential sales in 2010, earning his real estate license in 2006. His leadership experience in both fields positions him to bridge the gap between agents and legal matters, ensuring swift and effective solutions for clients.

“My legal background has been invaluable in helping agents navigate complex transactions,” said Bruice. “Time is of the essence in real estate, and I’m committed to expediting solutions and ensuring our clients receive the best possible outcome.”

Guillen and Bruice are focused on empowering agents at every stage of their careers, providing them with the tools, training, and guidance needed to succeed. Alongside Berkshire Hathaway HomeServices California Properties President Brent Consedine, they are setting the tone for the next generation of real estate leadership through authenticity, innovation, and inclusion.

With enhanced mentorship programs, streamlined transactions, and improved client services on the horizon, Berkshire Hathaway HomeServices California Properties is positioning itself for continued success in the ever-evolving real estate market. To learn more or join the team, visit www.bhhscalifornia.com/careers
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Berkshire Hathaway HomeServices California Properties supports more than 2,200 sales associates across 42 offices from San Luis Obispo to San Diego. In 2024, the company facilitated over 6,700 transactions, totaling $11.4 billion in sales volume. A wholly owned subsidiary of Berkshire Hathaway’s HomeServices of America, Inc., the company continues to lead the way in innovation, client service, and real estate excellence.

© 2025 David Mazor

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.

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Lessons From Warren Buffett

Lessons From Warren Buffett: What the Efficient Market Theory Gets Wrong

The Efficient Market Theory suggests that a stock’s price always reflects all available information about a company, making it impossible to consistently outperform the market. However, Warren Buffett firmly disagrees.

Speaking at the 2012 Berkshire Hathaway Annual Meeting, Buffett stated, “It’s built into the system that stocks get mispriced.” He explained that while Berkshire Hathaway’s stock has historically fluctuated less than many other large companies, it still moves away from its intrinsic value over time. Buffett predicted that over the next 20 years, Berkshire — along with companies like Coca-Cola, Wells Fargo, and IBM — would sometimes be significantly overvalued and at other times significantly undervalued. He emphasized that while the timing and sequence are unpredictable, mispricing is inevitable.

Buffett’s view highlights a fundamental belief: markets are not always perfectly efficient — and opportunities for careful investors still exist.

Buffett’s full explanation on mispriced stocks

See the complete Lessons From Warren Buffett series

© 2025 David Mazor

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.