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Berkshire Hathaway HomeServices

Berkshire Hathaway HomeServices Expands in the Midwest

(BRK.A), (BRK.B)

Berkshire Hathaway HomeServices has announced the opening of Berkshire Hathaway HomeServices True Realty, signifying the brand’s continued growth in the Midwest region.

Berkshire Hathaway HomeServices True Realty is owned and operated by Josh Lamp, Bailey Fedler, Laura Parman, Conrad Gorman, Marilee Gorman and Jonathan Horsfall. Located in the city of Madison, the office will serve the surrounding region including Greater Dane County and beyond.

“As the Madison area real estate market continues to evolve, this is an exhilarating time for us to announce our new name under the Berkshire Hathaway HomeServices brand,” said Bailey Fedler, Co-Owner, Berkshire Hathaway HomeServices True Realty. “This brand will provide our agents the opportunity to embrace the Forever Brand and become a Forever Agent, and to be a trusted advisor not only during the transaction but forever.”

“We are pleased to launch a new office in Madison, Wisconsin,” said Christy Budnick, CEO, Berkshire Hathaway HomeServices. “The area boasts a lifestyle and culture that few other places can match. Offering clients superior, personalized service is what Berkshire Hathaway HomeServices True Realty is known for and with the addition of this location they will be able to expand their footprint, serving the greater Madison area.”

By joining the network, Berkshire Hathaway HomeServices True Realty agents gain access to Berkshire Hathaway HomeServices’ active referral and relocation networks, and its “FOREVER Cloud” technology suite, a powerful source for lead generation, marketing support, social media, video production/distribution and more.

The brand also provides an exclusive Luxury Collection marketing program for premier listings. Its Prestige Magazine showcases network members’ premium listings with a strong lineup of feature stories covering topics that appeal to high-end real estate clients.

© 2022 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 a 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 Value Investing Warren Buffett

Lessons From Warren Buffett: This Is the Best Investment a Young Person Can Make

As you develop an interest in investing it is natural to look around and wonder what is the best thing for you to invest in. Is it stocks, real estate, commodities, or foreign currencies? Warren Buffett has a very straight forward answer to that question, and it is one investment that he would happily make. It is investing in yourself. By that he means improving your capabilities.

“I think that the best investment you can have, for most people, is in your own abilities,” Warren Buffett noted at the 2005 Berkshire Hathaway Annual Meeting. “I would pay a student, in many cases, I would be glad to pay them one hundred thousand dollars, cash up front, for ten percent of all their future earnings. So, I’m willing to pay one hundred thousand dollars for ten percent of them, I’m valuing the whole person at a million dollars, just capital value standing there in front of me.”

Hear Buffett’s full explanation

See the complete Lessons From Warren Buffett series

© 2022 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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Warren Buffett

Warren Buffett Donates $759 Million to Charities

(BRK.A), (BRK.B)

It’s a very happy Thanksgiving at a number of charities that recently received large donations from Warren Buffett, who continues to give away his fortune in Berkshire Hathaway stock.

Buffett donated 2.4 million B shares of Berkshire Hathaway, with a value of roughly $759 million, to a number of charities, including 1.5 million shares to the Susan T. Buffett Foundation.

The Susan T. Buffett Foundation has offered scholarships to college students in Nebraska for over 50 years, and is named for his late first-wife.

Additional charities receiving donated shares include:

A total of 900,000 shares split between charities overseen by his children Howard, Susan and Peter: the Howard G. Buffett Foundation, the Sherwood Foundation and the Novo Foundation.

Since 2006, Warren Buffett has donated more than half of his Berkshire shares, with a value of over $46 billion at the time of the donations.

© 2022 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 a 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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Minority Stock Positions

Berkshire Hathaway Sells Last of Its P&G Shares

(BRK.A), (BRK.B)

Berkshire Hathaway has sold the last of its stake in consumer goods corporation Procter & Gamble.

As of September 30, 2022, Berkshire still held 315,400 shares of the company, but that position has now been sold.

The sale was reported by NASDAQ in their change of institutional ownership of PG stock as of 9/30/2022.  

© 2022 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 a 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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Announcements

Berkshire Hathaway Warns Against Crypto Website Pirating Berkshire Hathaway Name

(BRK.A), (BRK.B)

Berkshire Hathaway is warning against a crypto website that is using the Berkshire Hathaway name. In a November 18 press release, the company stated:

Earlier this afternoon it came to our attention that there is an entity using the name Berkshire Hathaway with a web address of berkshirehathawaytx.com. The entity who has this web address has no affiliation with Berkshire Hathaway Inc. or its Chairman and CEO, Warren E. Buffett.

© 2022 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 a 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: A Great Moat Is Even Better Than Great Management

Having an invincible fortress of a business run by great management is the ideal situation for an investor, but forced to choose between the two, Warren Buffett would take the moat over the management. “If you have a big enough moat, you don’t need as much management,” Buffett notes.

“It gets back to Peter Lynch’s remark that he likes to buy a business that’s so good that an idiot can run it, because sooner or later one will,” Buffett said at the 1999 Berkshire Hathaway annual meeting. “He was saying that what he really likes is a business with a terrific moat where nothing can happen to the moat, and there aren’t very many businesses like that.”

Hear Buffett’s full explanation

See the complete Lessons From Warren Buffett series

© 2022 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
NetJets

NetJets Building Exclusive-Use Facility in Scottsdale, Arizona

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Berkshire Hathaway’s NetJets has broken ground on a new NetJets exclusive-use facility in Scottsdale, Arizona.

The first from-the-ground-up NetJets Maintenance Service Hub will significantly improve direct collaboration with the company’s supply chain partners.

Securing ramp space will limit traffic congestion and fuel delays and improve on-time performance.

The new facility in Scottsdale is part of the larger worldwide network of 10+ NetJets Maintenance Service Hubs—all located in regional facilities where NetJets owners travel to and from the most.

Owners can also take advantage of the on-site private boarding lounge where they can relax pre-flight.

“At NetJets, our priority is to provide Owners with safe, exceptional, and seamless experiences,” said Brad Ferrell, NetJets’ Executive Vice President, Administrative Services. “Our ongoing investment in expanding our real estate portfolio will continue to improve our industry-leading service, Owner experience, and maintenance abilities. We are excited to introduce our first from-the-ground-up NetJets Maintenance Service Hub site as a part of this larger investment in dedicated facilities across the globe.”

© 2022 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

Berkshire Hathaway Specialty Insurance Names Craig Taylor Regional Head of Property, Australia & New Zealand

BRK.A), (BRK.B)

Berkshire Hathaway Specialty Insurance has promoted Craig Taylor to the expanded role of Regional Head of Property, Australia & New Zealand.

“BHSI continues to grow our Technical Lines, Corporate and Mid-market books throughout Australia and New Zealand,” said Mark Lingafelter, Head of Australasia, BHSI. “Over the last 7 years, Craig has led the development of our Property and Risk Engineering team in Australia, and developed a strong reputation for exceptional service and technical capability with our customers and brokers. Craig will now take on a wider role, leading our New Zealand and Australian Property and Risk Engineering teams. We believe Berkshire brings unique capabilities to the market, and we are excited about the opportunity to further develop our Property business across the region.”

Craig joined BHSI in 2015 as Head of Property for Australia and will retain that role in addition to his new position. He started his career in New Zealand and brings more than 25 years of property underwriting experience to this role. Craig will continue to be based in Sydney.

© 2022 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 a 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 Awards Four New Certified Sites

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BNSF Railway Company has awarded four new locations for its Certified Sites designation. In order to be considered, sites must undergo a thorough analysis which includes an evaluation of environmental and geotechnical standards, available utilities, site availability and existing and proposed infrastructure.

“BNSF’s Site Certification Program creates tremendous value for customers who are seeking a rail-served industrial site by accelerating the process required for economic growth and development,” said Chris Danos, Assistant Vice President, Economic Development. “A customer who builds a new rail-served facility at one of these sites is expected to save six to nine months of valuable construction time as a result of this shovel-ready program,” said Danos.

The newly-designated Certified Sites feature acreage ready for industrial development:

• Dodge City Business Park, Dodge City, KS – This 244-acre location is the third Certified Site in the State. It is designated as light industrial zoning with all utilities available. Located off the BNSF network along US Highway 56 and 109.

• Reimann Industrial Center, Pasco, WA – Zoned for industrial use, this 150-acre site is conveniently located west of State Highway 395 and is six short miles from the Tri-Cities Airport. The first site of this size in the State, it is owned by the Port of Pasco, which offers a rail spur and runs adjacent to the BNSF network.

• Seward/Lincoln Regional Rail Campus, Seward, NE – This 194-acre industrial zoned site is the first-of-its-kind in the State with direct access to the BNSF network. Located in south Seward, 25 miles from Lincoln, with immediate access to Interstate 80.

• Upton Logistics Center, Upton, WY – This property consists of developable property with 295 acres of the logistics center recently certified. This site is zoned heavy industrial and is bordered to the east by BNSF Railway. Upton Logistics Center is operated by Tiger Transfer, a BNSF Premier Transloader.

Certified Sites are a part of BNSF’s Premier Parks, Sites and Transload program. The program is a strategic approach that addresses the increasing demand for customer site locations by developing various types of facilities across BNSF’s network. BNSF Certified Sites are reviewed by an industry expert in order to ensure accurate, reliable data. The goal of the program is to provide an inventory of rail-served sites that are available for immediate development.

© 2022 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 a 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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Berkshire Hathaway Energy Commentary

Will Berkshire Hathaway Buy Dominion Energy’s Stake in Cove Point LNG?

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If ever there was a natural acquisition for Berkshire Hathaway it would be acquiring the majority stake in a company that it currently owns 25 percent of, and already runs on a daily basis.

Dominion Energy is reportedly looking to sell its 50% stake in Cove Point LNG, and Berkshire Hathaway would seem to be a natural suitor, if the price is right.

The offshore liquid natural gas shipping terminal is operated by Berkshire Hathaway’s BHE GT&S, a standalone subsidiary of Berkshire Hathaway Energy.

Berkshire Hathaway Energy acquired a 25% stake in the facility in November 2020 when it bought Dominion Energy’s natural gas transmission and storage business, exclusive of Questar Pipeline Group.

Located near Lusby, Maryland, on the western shore of the Chesapeake Bay, the facility is the first such facility on the East Coast. It is recognized as one of the most technically advanced and environmentally sensitive LNG facilities in the world, and has a storage capacity of 14.6 billion cubic feet (BCF) and a daily send-out capacity of 1.8 BCF.

Cove Point produces LNG under 20-year contracts for ST Cove Point, a joint venture of Sumitomo Corporation and Tokyo Gas, and for Gail Global (USA) LNG, the U.S. affiliate of GAIL (India) LTD.

Since the facility first entered commercial service in April 2018 for natural gas liquefaction and export, LNG produced from the facility has supported the energy needs of 28 countries, including many in Europe in recent months. And Cove Point LNG loaded its 300th commercial cargo at the end of July.

The terminal connects, via its own pipeline, to the major Mid-Atlantic gas transmission systems of Transcontinental Gas Pipeline, Columbia Gas Transmission and Eastern Gas Transmission and Storage.

The Cove Point facility is unique among U.S. LNG terminals for its operational flexibility and demonstrated ability to perform all the functions of an LNG facility, including import, export, vaporization and send out, and liquefaction.

According to Bloomberg, Dominion Energy has begun talking to companies about buying its stake in the facility, and while Berkshire’s separate deal to acquire Dominion Energy’s Questar Pipeline Group was abandoned in 2021 due to antitrust concerns, antitrust issues are unlikely to be a problem with a Cove Point LNG acquisition.

In addition to Dominion Energy and Berkshire Hathaway, Brookfield owns 25%, invested through its Super Core-infrastructure fund.

Berkshire Hathaway, which owns roughly 18 percent of the nation’s natural gas pipelines, would seem to be the most logical choice to become majority owner of Cove Point LNG, and it probably won’t be long before we learn whether that is in the cards.

© 2022 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 a 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.