February 2016 – Page 3

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Berkshire Hathaway continues to be high on refiner Phillips 66 (PSX), which has been mostly immune to the downward pressure on oil prices. The demand for refined products, including gasoline, diesel and aviation fuel remains strong.

Berkshire added 2.54 million shares of Phillips 66 worth roughly $198 million stock in ten transactions on January 27 – 29, 2016. Prices of the shares ranged from a low of $76.462 to a high of $79.2699 per share. For the entire month of January, Berkshire bought a total of 10.81 million shares.

In August 2015, Berkshire revealed that it owned more than ten-percent of Phillips 66, and the new purchases ups its stake to 72,293,310 shares. The new purchases bring Berkshire’s stake in the refiner to roughly 13.7-percent.

About Phillips 66

Phillips 66 was spun-off of ConocoPhillips in May 2012, and in addition to its refining and petrochemical business, the company also transports crude oil, refined products, natural gas and natural gas liquids (NGL). It gathers, processes and markets natural gas and NGL to power businesses, heat homes and provide feedstock to the petrochemical industry.

The company’s 52-week share price high was $94.12, and it currently pays an annual dividend of 56 cents, yielding 2.85%.

Despite the weakness in the energy market, Phillips 66 had a profit of $1.31 per share, which exceeded analyst forecasts.

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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Until now, if you wanted to hear Warren Buffett and Charlie Munger answer questions at the Berkshire Hathaway annual meeting you had to make the pilgrimage to Omaha, Nebraska.

Over 40,000 people from all over the world did just that last year and when they got there they heard Buffett and Munger take 5 hours of shareholder and financial reporter questions. Their answers, which contain insight, humor and wisdom, have never been allowed to be audio or video recorded.

Now, Berkshire Hathaway is letting the rest of the world in on the action. The 2016 Berkshire Hathaway annual meeting, which will be held at the CenturyLink Center on April 30, 2016, will be live-streamed over the internet.

Will the move keep people from travelling to Omaha for Berkshire’s event-filled weekend? Unlikely, as hearing Warren Buffett and Charlie Munger in person is always a treat.

And, besides, you can always get your year’s supply of See’s Candies.