Month: March 2024

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BYD

Berkshire Hathaway-Backed BYD Enters Greek Market

(BRK.A), (BRK.B)

BYD, the Chinese automaker backed by Berkshire Hathaway, has officially entered the Greek market, marking another significant step in its European expansion. Partnering with the Sfakianakis Group, BYD unveiled its lineup of electric vehicles at a ceremony held at the Zappeion Megaron in Athens on March 20th, 2024.

Known for its expertise in power battery development and commitment to environmentally friendly technologies, BYD is introducing a range of innovative eco-friendly cars to Greece. The launch event showcased the BYD ATTO 3 (C-SUV) and the BYD SEAL (D-Sedan), with plans to introduce the BYD DOLPHIN (C-Hatchback) and the BYD SEAL U (D-SUV) in both pure-electric (BEV) and Plug-In Hybrid (PHEV) variants.

Sfakianakis Group, BYD’s partner in Greece, is dedicated to providing exceptional customer service. Two BYD stores will open in Athens, offering premium retail experiences, test drives, and direct ordering options. The Group is also expanding its network of Retail Partners and Authorized Repairers throughout Greece to ensure top-quality sales and after-sales services.

Speaking at the event, Michael Shu, Managing Director of BYD Europe, emphasized the company’s commitment to making electric mobility accessible to more consumers. The partnership with Sfakianakis Group represents BYD Europe’s first national launch of 2024, highlighting the importance of the Greek market in BYD’s global strategy.

The two models launched in Greece, the BYD ATTO 3 and the BYD SEAL, embody BYD’s vision for sustainable transportation. The ATTO 3 offers spaciousness and dynamic performance in a C-segment SUV, while the SEAL combines premium style with high-tech intelligent features in a D-segment sedan.

With competitive starting prices of €37,990 for the ATTO 3 and €45,990 for the SEAL, BYD aims to attract Greek consumers seeking environmentally friendly and technologically advanced vehicles. The company’s entry into the Greek market signifies its ongoing commitment to innovation and sustainability in the automotive industry.

© 2024 David Mazor

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway and BYD, 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

Lessons from Warren Buffett: The Most Obliging Place for the Patient Investor

(BRK.A), (BRK.B)

Warren Buffett is often celebrated for his remarkable patience in the world of finance. Unlike many investors who are quick to jump on opportunities, Buffett is known for his willingness to accumulate significant cash reserves, sometimes exceeding over a hundred billion dollars, until he finds the perfect investment opportunity.

Buffett likens investing to the strategy of a baseball batter waiting for the right pitch. He understands that in the stock market, patience is not only a virtue but also a powerful tool for success. At the 2012 Berkshire Hathaway Annual Meeting, Buffett emphasized the unique advantages of the stock market, describing it as the “most obliging, money-making place in the world.”

In Buffett’s view, the stock market offers unparalleled opportunities for investors to exercise patience. He highlights the fact that thousands of businesses are constantly being priced, providing a level playing field for buyers and sellers alike. Unlike other investment alternatives such as owning farms, where transactions are not as fluid or transparent, the stock market allows investors to make informed decisions based on readily available information.

One of the key advantages Buffett sees in the stock market is its dynamic nature. Prices fluctuate daily, presenting investors with a multitude of opportunities. However, Buffett cautions against succumbing to impulsive behavior, likening it to behaving like a “drunken psychotic.” Instead, he advises investors to remain disciplined and take advantage of the favorable rules inherent in the market.

For Buffett, patience is not simply about waiting idly for opportunities to arise; it’s about being prepared to act decisively when the time is right. By exercising patience and discipline, Buffett has built a reputation as one of the most successful investors in history.

Hear Buffett’s full explanation

See the complete Lessons From Warren Buffett series

© 2024 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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IPS

Berkshire Hathaway’s IPS in Strategic Partnership for Development of a Life Science, Healthcare, and Technology Park

(BRK.A), (BRK.B)

Berkshire Hathaway’s IPS, Allyant, and the Canadian Life Science and Technology Park have joined forces in a creating a state-of-the-art Life Science, Healthcare, and Technology Park.

The strategic partnership will cater to specialized turnkey startups, commercial manufacturing, and comprehensive support facilities.

The initial phase of this ambitious venture will focus on the development and site master planning of a sprawling 56-acre area in Georgina, Ontario, nestled within the Keswick Business Park. The objective is to establish a dynamic hub capable of accommodating a diverse range of sectors, spanning from pharmaceuticals, biotechnology, and medical devices to digital technology and beyond.

Safa’a Al-Rais, President and CEO of the Canadian Life Science and Technology Park, expressed enthusiasm about the collaboration, emphasizing its role in fostering innovation, capital efficiency, and sustainability. Al-Rais highlighted the critical importance of expediting the development and delivery of transformative services and medicines to patients, underlining the strategic significance of this partnership.

IPS, a Berkshire Hathaway Company, is a global leader in providing innovative solutions for the biotechnology and pharmaceutical industries. With a comprehensive range of services including consultancy, architecture, engineering, and compliance, IPS empowers clients to develop and manufacture life-impacting products. The recent acquisition of Linesight further enhances IPS’s capabilities, solidifying its position as a leader in project management across various sectors worldwide.

© 2024 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

Lessons From Warren Buffett: Business Schools Teach a Lot of Nonsense About Investing

Over the years, Warren Buffett has voiced his dissatisfaction with the traditional approach to teaching investing in business schools. According to Buffett, the focus on esoteric financial theories often leads students away from the fundamental skill of valuing businesses.

Buffett, speaking at the 2012 Berkshire Hathaway Annual Meeting, criticized the emphasis on mathematical-based finance theories, labeling much of it as “nonsense.” He has highlighted the tendency of business schools to latch onto passing fads in finance theory, which he believes detracts from the essential task of determining the true value of a business.

For Buffett, successful investing hinges on a deep understanding of how to evaluate a business rather than on complex financial models. His critique underscores a broader debate within the investment community about the efficacy of traditional investment education and the importance of practical, fundamental analysis.

Hear Buffett’s full explanation

See the complete Lessons From Warren Buffett series

© 2024 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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BYD

Berkshire Hathaway-Backed BYD Unveils Futuristic Electric Supercar Ready to Take on Luxury Brands

(BRK.A), (BRK.B)

Berkshire Hathaway-backed BYD, the global leader in new energy vehicles and power battery manufacturing, has once again set its sights on the automotive industry with the launch of its latest innovation – the YANGWANG U9. This pure electric supercar not only challenges the norms of traditional sports car manufacturing but also marks BYD’s ambitious move into the high-end luxury car market.

Priced at 1.68 million RMB, the YANGWANG U9 boasts a captivating design language known as “Time Gate,” which embodies a blend of unique proportions, tension, and power, setting it apart in the world of supercars.

Under the hood, the U9 is powered by two groundbreaking core technologies – the e4 platform and the DiSus-X Intelligent Body Control System. These innovations seamlessly integrate track performance, street adaptability, and playful features, redefining the standards for pure electric supercars.

The e4 Platform, featuring four independent electric motors, offers agile and precise four-wheel torque output control, delivering an impressive 1,300 horsepower and a maximum torque of 1680N·m. Meanwhile, the DiSus-X Intelligent Body Control System ensures unparalleled driving experience with its adjustable suspension travel of up to 75mm and peak single-axis lifting speed of up to 500mm/s.

In recent tests, the YANGWANG U9 has proven its prowess on the racetrack, reaching a top speed of 309.19 km/h and accelerating from 0 to 100 km/h in just 2.36 seconds. Its advanced thermal management system, equipped with Blade Battery technology and Dual Plug-in Ultra-fast charging, enhances performance even under extreme conditions.

The U9’s innovative design extends to its Super Carbon-Fiber Cabin, featuring next-generation CTB technology, which ensures unmatched torsional stiffness and comprehensive travel safety. Inside, the intelligent cockpit equipped with the DiLink150 platform and high-end audio system offers an immersive driving experience.

With its foray into the high-end sports car market, BYD once again demonstrates its dedication to leveraging technological advancements for a better, greener future. As a Fortune Global 500 enterprise, BYD’s pursuit of innovation continues to shape the automotive industry and drive the transition towards zero-emission energy solutions worldwide.

© 2024 David Mazor

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway and BYD, 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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Brooks

Brooks Running CEO Stepping Down

(BRK.A), (BRK.B)

Berkshire Hathaway’s Brooks Running Company, a leading name in the global running category, has revealed a significant leadership change. Jim Weber, who has served as Chief Executive Officer for an impressive 23 years, will be stepping down from his role. Effective April 26, 2024, Dan Sheridan, the current President and Chief Operating Officer, will take over as the new CEO.

During his tenure, Weber played a pivotal role in shaping Brooks’ trajectory, steering the company from the brink of bankruptcy to becoming a billion-dollar brand and an industry leader. He established a long-term strategy focused on performance running, which propelled Brooks forward over the past two decades.

The company reported a record revenue growth of $1.2 billion in 2023, marking a significant 5% increase year over year. Moreover, Brooks witnessed a historic achievement of selling over 20 million units, showcasing its widespread consumer appeal and market penetration.

Reflecting on his time at the helm, Weber expressed pride in Brooks’ accomplishments and the groundwork laid for future growth. He highlighted Sheridan’s extensive experience at Brooks, spanning 25 years, as a key factor in his readiness for the CEO position. Weber commended Sheridan’s customer-centric approach and emphasized his role in driving the company’s success.

Sheridan, who joined Brooks in 1998 and has held various leadership positions, brings a wealth of experience and a proven track record of cross-functional success to his new role as CEO. His leadership has been instrumental in evolving Brooks’ strategy, strengthening its business model, and navigating challenges through digital transformation and multichannel strategies.

Sheridan expressed gratitude for the opportunity to work alongside Weber and the global Brooks team, emphasizing the collaborative effort in building a successful business and a supportive workplace culture. He looks forward to leading Brooks into its next chapter of growth.

The transition has garnered support from Berkshire Hathaway Inc., which established Brooks as a standalone subsidiary in 2012. Vice Chairman Greg Abel praised Weber and the Brooks team for their exceptional work and expressed confidence in Sheridan’s leadership.

Brooks’ commitment to nurturing talent and thoughtful succession planning is evident in the appointment of Matt Dodge as the new President and COO, effective August 1, 2024. Dodge’s decade-long tenure at Brooks, coupled with his experience in various roles, positions him well to drive the company’s global growth.

© 2024 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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Pilot Flying J

Pilot Adding 10 New Travel Centers in 2024

(BRK.A), (BRK.B)

Pilot Travel Centers LLC, a subsidiary of Berkshire Hathaway, is gearing up for significant expansion and improvement in 2024. With plans to add 35 new travel centers and revamp over 75 existing locations, the company is committed to enhancing its services and presence across the United States.

The expansion efforts include the construction of 10 new travel centers, which will not only increase the company’s footprint in various states but also offer additional amenities and over 500 truck parking spaces. Furthermore, the addition of 25 dealer locations to the network will enable drivers to access more stops eligible for Pilot Travel Centers LLC’s loyalty perks and programs.

Allison Cornish, Senior Vice President of Store Modernization and Development at Pilot Travel Centers LLC, emphasized the company’s focus on community expansion and service enhancement. She highlighted the significant investments being made to ensure an exceptional experience for drivers at every stop along their journey.

In alignment with its New Horizons initiative, the company plans to renovate an additional 75 locations this year, bringing the total number of remodels to nearly 200 since the program’s launch in 2022. These renovations will include upgrades such as refreshed restrooms, expanded food and beverage options, and updated technology, aiming to provide a modern and comfortable environment for customers.

Moreover, Pilot Travel Centers LLC is enhancing its maintenance and tire services through its partnership with Southern Tire Mart. With plans to add more than 30 shops to its travel centers over the next year, the company aims to provide top-of-the-line services to its trucking customers, bringing the total number of locations to over 85 nationwide.

© 2024 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

Lessons from Warren Buffett: Look for Haystacks, Not Needles

(BRK.A), (BRK.B)

Warren Buffett has a clear strategy when it comes to choosing companies to invest in. Unlike the common perception of searching for hidden gems, Buffett prefers opportunities that are unmistakable and easily discernible. In his own words at the 1994 Berkshire Hathaway Annual Meeting, he expressed, “We’re not looking for needles in haystacks or anything of the sort. You know, we like haystacks, not needles, basically, and we want it to shout at us.”

Buffett’s approach emphasizes clarity and simplicity. He seeks investments where the potential is glaringly obvious. This philosophy has guided his successful investment career, focusing on companies with strong fundamentals and clear growth prospects, not speculative leaps of faith.

Hear Buffett’s full explanation

See the complete Lessons From Warren Buffett series

© 2024 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

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Lubrizol

Lubrizol Appoints Bhavana Bindra as Managing Director – India, Middle East and Africa

(BRK.A), (BRK.B)

Bhavana Bindra has been appointed as the Managing Director for India, Middle East & Africa (IMEA) at The Lubrizol Corporation, a subsidiary of Berkshire Hathaway. This newly created role reflects Lubrizol’s dedication to achieving ambitious growth targets and sustaining its presence in the region.

With more than twenty years of experience in the manufacturing industry, including roles at esteemed companies like REHAU and Cummins India, Bhavana brings a wealth of leadership and industry expertise to her new position. Her appointment signals Lubrizol’s strategic intent to leverage her skills to drive growth across the IMEA region.

In her role as Managing Director, Bhavana will lead Lubrizol’s IMEA team in delivering regional growth opportunities for both the company and its customers, utilizing a local-for-local approach. Collaborating closely with Lubrizol’s leadership, Bhavana will focus on identifying localized market opportunities and strengthening relationships with customers, suppliers, and stakeholders in the region. Additionally, she will oversee the operations of Lubrizol’s new Global Capability Center in Pune, India, which will serve as a key regional hub enhancing the company’s capabilities for further growth.

JT Jones, Senior Vice President of High Growth Regions at Lubrizol, expressed excitement about the appointment, emphasizing Lubrizol’s commitment to supporting customers and partners in the India, Middle East, and Africa regions. He highlighted the exceptional talent present across the region and affirmed Lubrizol’s plans to expand its team and footprint to better serve local markets.

This appointment aligns with Lubrizol’s broader commitment to the region, including a substantial $150 million investment in India aimed at accelerating growth. Notably, this investment encompasses the construction of a cutting-edge CPVC resin plant in Vilayat, India, slated to become the world’s largest CPVC resin plant upon its completion in 2025.

© 2024 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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CORT

CORT Boosts Paula Newell to COO

(BRK.A), (BRK.B)

Berkshire Hathaway’s CORT Furniture Rental has promoted Paula Newell, the company’s Executive Vice President, to the position of Chief Operating Officer (COO), effective immediately. This appointment underscores CORT’s commitment to fostering internal talent and recognizes Paula’s outstanding contributions to the organization.

In her new role, Paula will be responsible for overseeing all operational aspects of CORT Furniture and will continue to report directly to CEO and President, Mike Davis. With a strong background in both sales and operations, Paula is uniquely positioned to understand both customer needs and those of our business. She brings a people-first approach to her leadership, emphasizing guidance, support, and vision while driving accountability and results.

“Paula’s promotion to Chief Operating Officer underscores her exceptional leadership qualities, and unwavering commitment to our people, values and vision,” stated CEO and President, Mike Davis.

Paula has been with CORT since 1998, holding various leadership roles such as assistant district general manager, district general manager, area manager, regional vice president of sales, and vice president of national accounts.

Most recently, she served as the executive vice president of operations for the U.S., where she provided oversight for all furniture rental and outlet operations across the company.

“I am deeply honored and excited to take on the role of COO,” said Paula, “This promotion is a testament to the incredible team, culture, and vision we have at CORT. I look forward to continuing to drive our operational excellence and customer-centric approach, ensuring we remain the industry leader in furniture rental solutions.”

Before joining CORT, Paula was the operations, sales, and merchandising manager for Levitz Furniture on the West Coast. She holds a Bachelor of Arts degree from California State University San Bernardino.

CORT is the nation’s leading provider of transition services, including furniture rental for home and office, event furnishings, destination services, apartment locating, touring, and other services. With more than 100 locations including offices, distribution centers, furniture rental showrooms, and furniture outlets across the United States, operations in the United Kingdom, and a global network of partners in more than 80 countries around the world.

© 2024 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.