Warren Buffett is famous for saying that after he dies he wants his wife to put her money into an S&P 500 index fund. Why does Buffett say that? It is because Buffett doesn’t think the financial management field adds value above what investors can do themselves.
“Most professions have value added to them above what the laymen can accomplish themselves. In aggregate, the investment profession does not do that,” Warren Buffett noted at the 2006 Berkshire Hathaway Annual Meeting. “So you have a huge group of people making, I put the estimate as $140 billion a year, that, in aggregate, are, and can only accomplish what somebody can do, you know, in ten minutes a year by themselves.”
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.
Nestled in the heart of Berkshire Hathaway’s Grandscape, near the vibrant city of Dallas, a remarkable transformation is currently underway. Come spring 2024, the Lone Star State will play host to an awe-inspiring creation that defies convention — WorldSprings, a nine-acre haven that blurs the boundaries between wellness spa and amusement park. It’s a venture poised to revolutionize the Texan landscape.
WorldSprings is on the cusp of marking its Texan debut, promising to be the largest outdoor mineral springs experience of its kind in the entire United States. A veritable Eden for wellness enthusiasts.
Described as “a sanctuary for the soul,” this extraordinary expanse will boast 45 outdoor soaking pools, each with its own unique inspiration from renowned hot springs across the globe. A mesmerizing mosaic of cold-plunge pools, Finnish saunas, and a sumptuous spa, WorldSprings is designed for indulgence and rejuvenation.
Here are the highlights that await:
The Family Pool: A gathering place for all generations, where the young and young at heart can revel in the mineral-infused waters.
Dead Sea Float Pool and South Pacific Region Mineral Pools: A taste of the exotic, offering a timeless journey through the world’s most celebrated mineral-rich waters.
The Asiatic, European, and Americas Region Mineral Pools: Reserved for those 18 and older, these pools promise a sophisticated, adults-only retreat.
The Spa: A realm of pampering, it boasts a menu brimming with body treatments and massages to soothe the weariest of souls.
The Sanctuary: A hallowed ground for spiritual wellness, it hosts sound baths, yoga sessions, breathwork, and guided meditation classes.
Aqua Classes: Dive into aqua aerobics, sculpting, yoga, and floating sessions in the therapeutic waters.
Performance-Enhancing Treatments: Embark on an extraordinary journey of recovery with cryotherapy, hyperbaric chambers, and compression therapy.
WorldSprings Café: A tech-savvy solution for poolside dining, where guests can order delicacies and libations with a mere tap on their smartphones.
Guided by the expertise of their in-house functional medicine practitioner, Dr. Sara Gottfried, WorldSprings promises meticulously crafted pools that replicate the mineral composition of renowned springs worldwide. It’s a testament to the dedication to authenticity and quality that defines this one-of-a-kind venture.
As for access, WorldSprings is intent on inclusivity. Memberships and three-hour passes will be offered, tailored to ensure everyone can partake in this weekly ritual of well-being. While the pricing remains a closely guarded secret, a select few can avail of discounted Founding Memberships starting early next year.
Rob Kramer, the managing partner of WorldSprings’ owner, Off Road Capital, envisions a future where wellness is accessible to all. He expresses his ambition, stating, “Our ambition is that WorldSprings will democratize wellness by opening locations throughout the country.”
WorldSprings’ journey began in Glenwood Springs, Colorado, and a similar concept found its roots in La Verkin, Utah, near the majestic Zion National Park. Now, Texas awaits its turn.
Mark your calendars, for the grand opening of WorldSprings Grandscape is set for March 2024. It will be located at 3240 Plano Pkwy., within the sprawling 433-acre Grandscape complex, which is the home of Berkshire’s largest of its mega-store Nebraska Furniture Marts and boasts not just shopping and dining, but also an escape room, immersive entertainment venues, an amphitheater, and much more.
In the words of Justin Foley, the general manager of the upcoming Grandscape location, “Bringing WorldSprings to this ideal location is a remarkable milestone.” Indeed, it is a milestone that promises to redefine the Texan landscape, offering a unique fusion of wellness and amusement that’s set to captivate the hearts and minds of all who venture within its embrace.
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.
Berkshire Hathaway’s Jazwares, one of the world’s fastest-growing toy companies, has secured a master toy agreement with popular fashion role-playing metaverse experience Royale High for an all-new toy line including game-inspired fashion dolls set to launch fall 2024. Jazwares will also serve as a licensing conduit for Royale High to create a robust portfolio of consumer products that will bring the popular gaming world to life via a 360-degree cross-category licensing program spanning apparel, beauty, home decor, and more.
As the biggest fashion-based property in gaming with over 105 million users and 9 billion play sessions, Royale High has taken the gaming world by storm, offering players a fun and engaging virtual environment where fashion and style take over. Jazwares will seamlessly translate the Royale High gaming experience into the world of toys with a line of dolls and accessories coupled with exclusive game codes for matching virtual items. Additionally, Jazwares Costumes Division will be designing and developing costumes and fashion-forward roleplay accessories timed to the fall Halloween season.
“At Jazwares, we keep our finger on the pulse of what’s trending for kids of all ages, and it’s clear that Royale High has already made a massive impact in the gaming realm,” said Judd Karofsky, Executive Vice President, Jazwares. “We know how to translate gaming properties into off-screen products better than anyone in the industry, masterfully translating IP into toys but also creating meaningful consumer products programs. Tapping into the popularity of Royale High is expanding our portfolio into the girls’ space in a big way, and we can’t wait to introduce our new line to the community of fans.”
In the Royale High fantasy world, players attend a magical castle high school where each student is handed a treasure trove of roleplay-enhancing items, including the glittery-winged keys to their dorm, their very own personal space to decorate however they wish. Royale High is a safe space where students are free to dress in their own unique styles to express their creativity, wherever their class schedule takes them — the sky’s the limit when they have unlimited creativity at their fingertips.
“Within the virtual world of Royale High, students are given the tools to live whatever fairytale life they wish to lead; it’s as close as their most enchanted dreams, just a mere mouse click or tap away,” added Royale High’s creative lead callmehbob. “We’re excited to spread the themes of creativity, self-expression, and the promotion of play to the real world by partnering up with Jazwares. Through the use of real toys, Royale High can fuel children’s fantasy dream life in a form that they’re able to touch and hold. This is a fantastic opportunity, and we’re eager to work alongside a company that’s equally as interested in understanding what makes Royale High so magical, so they can artfully translate it into a whole new medium.”
Toymaker Jazwares, which was acquired by Berkshire Hathaway as part of its acquisition of Alleghany Corp., is the company behind the toy sensation Squishmallows.
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.
We all have epiphanies that change our lives, and for Warren Buffett it was the moment that he realized the lengths that people will go to engage in gambling behavior, even when they know the odds insure that in the end they will lose. It was a moment that cemented the advantage the disciplined investor has over the gambler.
“I walked into this casino, the Flamingo, it was kind of a motel-like arrangement, and I was 21 and my bride was 19,” Warren Buffett said at the 2022 Berkshire Hathaway Annual Meeting. “And I looked around the room and there were all of these people, and they were better dressed then, it was a more dignified group than, perhaps, currently, but they had flown thousands of miles in some cases, you know, in planes that weren’t as fast as the current ones and were more expensive, probably, on a per-mile basis, adjusted, then. They’d gone to great lengths to come out to do something that was mathematically unintelligent, and they knew it was unintelligent. And, I mean, they couldn’t do it fast enough, in terms of rolling the dice, you know, and trying to determine whether they were hot or whatever they may be. And I looked around at that group. And everybody there knew that they were doing something that was mathematically dumb, and they’d come thousands of miles to do it. And I said to my wife, I said, ‘You know, I’m going to get rich. I mean, how can you miss? If people are willing to do this, you know, this is a land of opportunity.'”
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.
Berkshire Hathaway’s Clayton, a national builder of off-site and site-built homes, is building a new facility for manufactured housing in Stanly County, North Carolina.
The $46.6 million project to be located in New London for Clayton’s subsidiary Clayton Supply, will add a projected 263 jobs.
The state of North Carolina will reimburse Clayton Supply roughly $2.1 million over the next 12 years if the company meets job projection and investment goals. The company will also receive a state grant of $229,300 for infrastructure upgrades.
The new facility is projected to grow the state’s economy by $649 million over the 12-year term of the grant.
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.
Berkshire Hathaway’s NetJets and Textron Aviation have announced a record-breaking fleet agreement for the option for NetJets to purchase up to 1,500 additional Cessna Citation business jets over the next 15 years.
The agreement extends NetJets’ existing fleet agreement, and includes options for an increasing number of aircraft each year, enabling NetJets to expand its fleet with Cessna Citation Ascend, Citation Latitude and Citation Longitude aircraft. Equally exciting is the announcement that NetJets has been named the fleet launch customer for Textron Aviation’s newest jet — the Citation Ascend. Deliveries of the Citation Ascend are expected to begin in 2025 when the aircraft, currently under development, is expected to enter into service.
“NetJets customers around the world continually select Citations as their aircraft of choice. We’re honored to be the largest provider of industry-leading aircraft to NetJets and look forward to continuing to work together to design and deliver the best aviation experience based on customer feedback,” said Ron Draper, president and CEO, Textron Aviation. “Expanding and adding the Citation Ascend to the NetJets fleet will provide its global customers with even more versatility and flexibility to accomplish their missions, building upon the exceptional performance and popularity of the Latitude and Longitude.”
Since the inception of the more than 40-year relationship between the companies, NetJets has taken delivery of more than 800 aircraft from Textron Aviation, including exercising over 300 options for Citation Latitudes and Longitudes during the past eight years. This enduring relationship equips discerning customers with class-leading, safe, and reliable aviation travel experiences worldwide. Through the years, NetJets has owned and operated industry-leading Citations including the Citation SII, V, Excel/XLS, Sovereign, X, Latitude and Longitude models.
“As a long-time, trusted ally who shares our commitment to safety and service, Textron Aviation is the ideal partner to help us expand our offerings to NetJets Owners with the introduction of the new Ascend to our midsize jet class, as well as by growing our overall fleet,” said Doug Henneberry, NetJets Executive Vice President, Aircraft Asset Management. “Based on past demand for the popular Citation Latitude and Longitude, the new Ascend and all our new Citations will undoubtedly be well received by our Owners, particularly those who depend on NetJets to help them do more and miss less.”
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.
Berkshire Hathaway’s BNSF Railway is selling the brokerage operations of BNSF Logistics to J.B. Hunt Transport Services Inc., one of the largest supply chain solutions providers in North America. Terms of the deal were not disclosed.
BNSF Logistics provides third-party logistics services for the movement of full truckload, flatbed, temp-controlled, drayage, expedited, and less-than-truckload services to a large and diverse group of customers through both an employee and agent model. BNSF Logistics also provides warehouse, retail specialty, heavy-haul and project services, which are not included in the transaction.
“This agreement with J.B. Hunt reflects our companies’ shared commitment to provide industry-leading intermodal service to our customers,” said Katie Farmer, President and CEO of BNSF Railway. “This continues more than 30 years of partnership between BNSF and J.B. Hunt and builds on our announcement to further integrate our joint services.”
Following the closing of the transaction, the brokerage operations of BNSF Logistics will roll into J.B. Hunt’s Integrated Capacity Solutions for segment reporting purposes. The transaction will be funded using J.B. Hunt’s existing cash balance and is expected to close before year-end.
“As we continue to work with BNSF Railway to develop solutions that drive value for customers, we recognized a unique opportunity to combine the companies’ efforts to serve the transportation market with 3PL services and leverage the investments J.B. Hunt has made in our technology platform, J.B. Hunt 360°®,” said John Roberts, CEO of J.B. Hunt. “This acquisition is another step forward in our mission to create the most efficient transportation network in North America.”
BNSF Logistics provides value-added 3PL services for BNSF Railway. Upon closing the transaction, BNSF Railway and J.B. Hunt will enter into a long-term service agreement whereby J.B. Hunt will continue to provide those services for BNSF Railway.
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.
Buy and hold might be a slogan that gets occasionally mentioned by brokerage firms, especially when they don’t want retail investors to flee in market downturns, but it’s not a philosophy that Wall Street really believes in for one simple reason, they get paid for activity. And having people treat investing like gambling is far more profitable than having investors patiently hold on to their stocks and bonds.
“. . . The money is in turning over stocks. I mean, people say how wonderfully you’ve done if you bought Berkshire in, you know, 1965 or something and held it. But your broker would’ve starved to death,” Warren Buffett said at the 2022 Berkshire Hathaway Annual Meeting. “But they don’t make money unless people do things, and if they get a piece of them. And they make a lot more money when people are gambling than when they’re investing. It’s much better to have somebody that’s going to trade 20 times a day and get all excited about it, just like pulling the handle on a slot machine.”
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.
Berkshire Hathaway Specialty Insurance has named Edwin Sim as Vice President and Head of Executive & Professional Lines in Singapore.
“Our Executive & Professional Lines capabilities continue to expand in Singapore and throughout Asia. Edwin has been integral to this expansion, while also delivering BHSI holistically, with multi-line solutions and multinational programs, to our customers and brokers throughout the region,” said Scotland Walsh-Riddle, Regional Head of Executive & Professional Lines, Asia, BHSI. “I look forward to working with Edwin and our stellar Singapore team to bring our expansive, simply worded policies and customized Executive & Professional Lines capacity to the marketplace.”
Edwin joined BHSI in 2017 as Assistant Vice President, Executive & Professional Lines in Singapore, and was promoted to Vice President, Executive & Professional Lines in Singapore in 2020. He has more than 25 years of industry experience focused on financial lines. Edwin continues to be based in Singapore.
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.
Jewelry retailer Borsheims, a Berkshire Hathaway company, has announced the promotions of four key members of its executive team–Adrienne Perry, Sean Moore, Julie McAlpine, and Andy Brabec.
These newly created roles will help Borsheims deliver the Signature Service customers have come to know and expect of the luxury retailer and position the company for continued growth and success in the future.
Adrienne Perry has been promoted to Chief Revenue Officer. As CRO, Perry will steward Borsheims’ sales divisions toward continued growth while aligning departments to create a seamless omnichannel experience. Perry has been with Borsheims for 19 years, where she began as a Marketing Specialist before her promotion to Director of Marketing in 2007 and Director of Marketing and Business Sales in 2013. She was most recently promoted in 2019 to Vice President and Officer. Perry is an Omaha native who holds a Bachelor of Arts degree, with honors, from Marquette University. She is a dedicated volunteer with Omaha Performing Arts and the Child Saving Institute, where she was Volunteer of the Year in 2022.
Sean Moore, a 32-year veteran of Borsheims, has been promoted to Vice President of Luxury Sales. In this new role, Moore will continue to use his unmatched expertise in the luxury market to source unique and rare merchandise while working cross-functionally to provide exceptional customer service for Borsheims’ luxury clientele. Moore started his career at Borsheims as a Seasonal Sales Associate before serving as an assistant to Borsheims’ Executive Vice President in 1993. He was promoted to Diamond Buyer in 2001 and became the Director of Sales in 2010. Moore is an Omaha native and an avid Huskers fan who holds a Graduate Gemologist degree from the Gemological Institute of America. He is a board member of the Luxury by JCK and Centurion Jewelry Shows, as well as a longtime volunteer and board member with Junior Achievement.
Julie McAlpine has been promoted to Vice President of Merchandise. McAlpine has successfully directed Borsheims’ buying strategies and inventory for the past eight years and will continue to do so as the VP of Merchandise. McAlpine started her career with Borsheims 25 years ago as a Seasonal Sales Associate. She was promoted to Gift Buyer in 2001 and became the Director of Merchandise in 2015. An Omaha native, McAlpine holds a Bachelor of Science degree from the University of Nebraska-Lincoln, a Master of Business Administration degree from the University of Nebraska-Omaha, and she is a Gemological Institute of America Graduate Gemologist. She is a board member at Marian High School and a dedicated volunteer with St. Columbkille school and parish.
Andy Brabec has been promoted to Vice President of Marketing and E-commerce. In his new role, Brabec will be responsible for innovating and elevating the Borsheims brand to increase customer acquisition and loyalty. Brabec is a Jewelers of America 20 under 40 award winner with a proven track record of success in the digital space. He started his career at Borsheims in 2016 as the Director of E-commerce before becoming the Director of Marketing and E-commerce in 2019. Brabec is a native of Schuyler, Nebraska, and holds a Bachelor of Arts degree from Doane University, where he was also a starting member of the soccer team and a 4-year letter winner. Brabec is a passionate volunteer with the Team Jack Foundation and an active youth sports coach.
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.