Categories
Pilot Flying J

Berkshire’s Pilot Company Grows Footprint with New Locations and Renovations

(BRK.A), (BRK.B)

Berkshire Hathaway’s Pilot Company is accelerating its nationwide growth with new store openings, major renovations and expanded EV charging and truck care services.

The company recently opened two new travel centers: Pilot #360 in Findlay, Ohio, and Pilot #1450 in Eagle Pass, Texas. Both locations offer a full range of amenities for drivers, including freshly prepared food, clean showers and restrooms, and public laundry facilities.
In addition, nine locations completed curb-to-counter remodels to deliver a more modern, consistent guest experience. Renovated stores include Flying J sites in Tilbury, Ontario; Myerstown, Pennsylvania; and Midway, Florida, along with Pilot and One9 locations in Bismarck, North Dakota; St. Cloud, Minnesota; Bellemont, Arizona; Van Horn and Buffalo, Texas; and Hebron, Indiana.

Pilot also strengthened its network by adding multiple dealer locations across Wisconsin, Illinois, Texas, Utah, Nevada and New Mexico, providing drivers with more fueling and rest options along key travel corridors.

Supporting professional drivers on the road, Southern Tire Mart at Pilot continues to expand its footprint, now operating at more than 130 locations nationwide, including 44 new sites offering fast, reliable truck maintenance services.

For electric vehicle travelers, Pilot has surpassed 1,000 EV charging stalls at approximately 250 highway locations nationwide, adding 27 new sites since early October. The growing network gives EV drivers greater confidence and convenience when traveling long distances.

© 2026 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.

Categories
Announcements

Berkshire Releasing Annual Report and Earnings on Saturday

(BRK.A), (BRK.B)

Berkshire Hathaway Inc. has announced that its 2025 Annual Report to shareholders will be published online on Saturday, February 28, 2026, at approximately 8:00 a.m. Eastern Time. The report will be available on the company’s official website, and an earnings release will be issued at the same time.

The 2025 Annual Report will feature Greg Abel’s first annual letter to shareholders, offering his perspective on the company’s performance and outlook. It will also provide detailed information on Berkshire’s financial position and results of operations.

In addition, the report will include important details about Berkshire’s upcoming Shareholders Meeting, scheduled for Saturday, May 2, 2026, along with information about related events.

© 2026 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.

Categories
Appointments

TransRe Announces Leadership Promotions to Strengthen Client and Broker Partnerships

(BRK.A), (BRK.B)

Berkshire Hathaway’s TransRe has announced a series of leadership promotions aimed at deepening client and broker relationships while enhancing underwriting, portfolio management, and analytics capabilities across the organization.

Desmond Pollock has been appointed to lead TransRe’s Go-To-Market team, with responsibility for client and broker relationships, analytics, and market communications. Pollock joined TransRe in 2006 and previously led the U.S. Custom team. He will report to Paul McKeon, President of Global Underwriting.

Eyal Shnaps has been named head of the U.S. Custom team, a key component of TransRe’s global portfolio. Shnaps joined the company in 2014 and most recently served as Global Property Portfolio Leader. In his new role, he will report to John Fugit, Chief Underwriting Officer for North America.

Mike Torre has assumed responsibility for TransRe’s global property portfolio in addition to leading the company’s third-party capital strategy. Torre, who joined TransRe in 2018, will report to Lisa Moser, President of Global Portfolio Management.

Maryam Haji has been appointed Global Head of Research & Catastrophe Management, overseeing catastrophe management and modeling worldwide. Since joining TransRe in 2014, Haji has played a central role in advancing the firm’s risk assessment and modeling capabilities. She will continue to report to Lisa Moser.

Commenting on the changes, Paul McKeon said the promotions ensure TransRe’s front-line teams are well supported in delivering the service and expertise clients and brokers expect. Lisa Moser added that the new structure better integrates analytics with underwriting, enhancing insights across regions and lines of business.

Founded in 1977, TransRe is the brand name for Transatlantic Holdings, Inc. and its subsidiaries. A wholly owned subsidiary of Alleghany Corporation, a Berkshire Hathaway company, TransRe is headquartered in New York and operates globally, providing innovative property and casualty reinsurance solutions.

© 2026 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.

Categories
Lessons From Warren Buffett

Lessons From Warren Buffett: The Fastest Way Smart Investors Go Broke

Warren Buffett has long cautioned investors about the dangers of leverage, the practice of using borrowed money to boost returns. While it may seem attractive, he warns it can quickly destroy even the most successful investors when markets shift.

“Whenever a bright person, a really bright person, goes broke that has a lot of money, it’s because of leverage,” Buffett told shareholders at Berkshire Hathaway’s 1999 annual meeting. “It would be almost impossible to go broke without borrowed money being in the equation.”

For Buffett, the lesson is clear: long-term success in investing comes from patience and discipline, not debt-fueled risk.

Hear Buffett’s full explanation

See the complete Lessons From Warren Buffett series

© 2026 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.

Categories
BNSF

BNSF Logistics Names David Ivan President and CEO

(BRK.A), (BRK.B)

BNSF Logistics, LLC, a leading multi-modal third-party logistics service provider, has announced the appointment of David Ivan as president and chief executive officer, effective immediately. Ivan expressed enthusiasm for his new role, emphasizing his commitment to working alongside the BNSF Logistics team to drive long-term growth through continued investment in people, technology, and process excellence.

Ivan brings more than 25 years of leadership experience across manufacturing, logistics, and global supply chains. Known for his hands-on, data-driven approach, he has a strong track record of improving operating profit, safety, working capital, and customer performance through lean transformation, strategic planning, and organizational development.

Before becoming CEO, Ivan held senior operational leadership roles at several global organizations, including serving as chief operating officer at BNSF Logistics and Vestas. His experience includes leading large-scale transformations of multi-billion-dollar businesses, scaling operations during rapid growth, integrating acquisitions, and aligning global teams around clear performance metrics. Ivan holds an MBA from Wake Forest University and a bachelor’s degree in manufacturing engineering technology from the Oregon Institute of Technology.

© 2026 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.

Categories
Lessons From Warren Buffett

Lessons From Warren Buffett: Go Where the Puck Is Going

Warren Buffett says investors should focus less on rigid formulas like price-to-earnings ratios and more on where a company is headed. Speaking at Berkshire Hathaway’s 1995 annual meeting, Buffett drew on advice from hockey great Wayne Gretzky: “Go where the puck is going to be, not where it is.”

“It’s the future that counts,” Buffett emphasized, “It isn’t a multiple of today’s earnings that are primarily determinative of things.” He underscored that long-term success in investing comes from anticipating future performance rather than relying solely on current metrics.

Hear Buffett’s full explanation

See the complete Lessons From Warren Buffett series

© 2026 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.

Categories
Brooks

Brooks Caps Ninth Straight Growth Year With 16% Revenue Increase

(BRK.A), (BRK.B)

Brooks Running, a Berkshire Hathaway company, closed 2025 with record-breaking global revenue, posting 16% year-over-year growth and marking its ninth consecutive year of expansion. The performance reinforces a nearly 25-year growth trajectory for the brand, delivering a 14% compound annual growth rate since 2001.

Growth was broad-based across regions. North America revenue increased 13%, while Europe, the Middle East, and Africa (EMEA) grew 22%. Asia Pacific and Latin America (APLA) led the way with 66% growth, fueled by a 245% surge in China sales. Momentum in China was driven in part by Brooks’ ranking as the No. 1 international brand among sub-three-hour finishers at the Shanghai Marathon, one of the country’s largest races.

“Running continues to gain extraordinary momentum around the world as more people choose movement as part of their approach to health and wellness,” said Dan Sheridan, Brooks CEO.

In North America, Brooks achieved the No. 1 market position in performance running footwear at U.S. specialty retail in the fourth quarter. The Brooks Run Club loyalty program surpassed 2 million members, doubling year over year. In EMEA, Brooks outpaced overall market growth in key countries, growing 22% in France and 28% in Germany. In Germany, the brand secured the No. 1 position in adult performance running footwear priced above €90.

Globally, Brooks’ running communities also expanded rapidly. On Strava, Brooks’ combined North America and EMEA run clubs exceeded 785,000 members—more than any other running brand on the platform—while the number of Brooks-affiliated clubs more than tripled in 2025.

Product innovation remained a key growth driver. Ten Brooks footwear styles delivered year-over-year revenue growth of 20% or more. The Glycerin franchise, powered by the new DNA Tuned midsole foam, grew revenue 33% and unit sales 27%, with a 46% revenue surge in the fourth quarter. The Adrenaline GTS celebrated its 25th anniversary with double-digit full-price growth, while Brooks also introduced the all-new Glycerin Flex, featuring an industry-first articulated, segmented midsole.

Following a record year, Brooks enters 2026 with continued investment in innovation, community, and performance-driven design for runners worldwide.

© 2026 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.

Categories
Berkshire Hathaway Specialty Insurance

BHSI Promotes Kim Schumacher to Head of General Property in Germany

(BRK.A), (BRK.B)

Berkshire Hathaway Specialty Insurance (BHSI) has announced the promotion of Kim Schumacher to Head of General Property in Germany, reinforcing its leadership team in the region.

In her new role, Schumacher will oversee BHSI’s general property business in Germany, drawing on nearly 20 years of insurance industry experience. She joined BHSI in 2024 as Senior Property Underwriter and brings extensive expertise in complex property and technical lines risks.

Commenting on the promotion, Andreas Krause, Head of DACH at BHSI, said Schumacher combines strong technical knowledge with a shared commitment to high-quality service for customers and brokers, as well as BHSI’s “Claims is Our Product” philosophy, from underwriting through claims.

Schumacher continues to be based in Hamburg. In Germany, BHSI offers all-risk and technical property insurance, including machinery breakdown and Difference in Conditions/Difference in Limits coverage, as well as specialty property solutions such as terrorism, cyber, contingent business interruption, and BH FastCAT parametric insurance.

© 2026 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.

Categories
BNSF

BNSF Railway Reports Safest Year in Company History

(BRK.A), (BRK.B)

BNSF Railway announced its safety results for 2025, marking the safest year in the company’s 177-year history. One of North America’s largest freight transportation providers, BNSF achieved record-setting performance across key safety metrics.

Operating a 32,500-mile network with approximately 35,000 employees, the company reported its lowest-ever employee injury frequency rate—10 percent lower than its previous record set in 2023. BNSF also recorded a 13 percent reduction in rail equipment incidents, exceeding its 2025 target and reinforcing its position as an industry safety leader for more than a decade.

BNSF President and CEO Katie Farmer credited the achievement to the dedication of the entire workforce and the company’s ongoing commitment to its vision of operating a railroad free of accidents and injuries. Vice President of Safety Chad Sundem echoed that sentiment, highlighting strong collaboration between labor and management and a shared belief that safety guides every decision.

© 2026 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.

Categories
Lessons From Warren Buffett

Lessons From Warren Buffett: There’s No Simple Formula for Investing

Many investors search for a clear-cut formula to guide their decisions—something that can signal exactly when to buy. But according to Warren Buffett, successful investing isn’t that mechanical.

“People always want a formula,” Buffett said at the 2002 Berkshire Hathaway Annual Meeting. “They go to The Intelligent Investor and they think, you know, somewhere they’re going to give me a little formula and then I can plug this in and I know I’ll make lots of money. And it really doesn’t work that way.”

Instead, Buffett emphasizes a deeper, more thoughtful approach: estimate the total cash a business will generate over its lifetime, discount it appropriately, and only invest when the price is well below that value. “I wouldn’t want to have a single yardstick, or a…relative P/E that I went by,” he added.

The lesson? Real investing success requires judgment, patience, and a willingness to think beyond shortcuts.

Hear Buffett’s full explanation

See the complete Lessons From Warren Buffett series

© 2026 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.