Month: July 2024

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Berkshire Hathaway Specialty Insurance

Berkshire Hathaway Specialty Insurance Expands into Nordic Market

(BRK.A), (BRK.B)

Berkshire Hathaway Specialty Insurance (BHSI) has expanded its reach into the Nordic countries with the opening of a new office in Stockholm. The company has appointed Anna Green as Head of Nordics, Karin Bryner as Head of Executive & Professional Lines, and Anton Holmgren as Head of General Property for the region.

Andreas Krause, Head of DACH at BHSI, highlighted the significance of this expansion as a continuation of BHSI’s global growth. “We will continue to expand our local team and capabilities, and look forward to bringing the certainty of BHSI’s financial strength, underwriting acumen, and ‘CLAIMS IS OUR PRODUCT’ philosophy to customers and distribution partners throughout Sweden, Denmark, Norway, and Finland,” he said.

Effective immediately, BHSI’s Nordic office is underwriting Executive & Professional Lines, General Property, Energy, and Construction.

Anna Green, with over 20 years of industry experience spanning the Nordics, Europe, the UK, and the Asia Pacific region, expressed enthusiasm about the launch. “We look forward to building a strong team in the Nordics and bringing BHSI’s commitment to excellent technical underwriting and highly responsive service to the market. We have already had great response from brokers and customers,” she said.

Green was most recently the CEO of the Sweden Branch of another global insurer and has deep expertise in Specialty and Environmental underwriting. She is based in Stockholm.

© 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

BYD Announces Plans for Vehicle Plant in Turkey

(BRK.A), (BRK.B)

Berkshire Hathaway-backed BYD, China’s largest electric vehicle manufacturer, is set to build a vehicle manufacturing plant in Turkey. This strategic move aims to avoid the increasing EU tariffs on vehicles imported directly from China.

The new facility, expected to be operational by the end of 2026, will have an annual production capacity of up to 150,000 vehicles and will create approximately 5,000 jobs. This follows BYD’s recent inauguration of a plant in Rayong, Thailand, which was completed in just 16 months.

BYD’s global expansion is rapidly progressing. The company recently celebrated the production of its 8 millionth new energy vehicle. In 2023, BYD achieved a 337% year-on-year increase in exports, reaching a total of 243,000 vehicles. In the first half of this year alone, BYD sold 1.607 million new energy vehicles worldwide, marking a 28% year-on-year growth, with over 203,000 of these vehicles being exported, a 173.8% year-on-year increase.

BYD’s new energy vehicles are now available in 88 countries and regions. The company has established passenger car production bases in Thailand, Brazil, Hungary, and Uzbekistan, with plans for another in Mexico.

© 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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BYD

BYD Celebrates 8 Million NEV Milestone and Thailand Expansion

On July 4, Chinese automaker BYD, backed by Berkshire Hathaway, achieved two significant milestones. The company inaugurated its Thailand plant in Rayong and produced its 8 millionth new energy vehicle.

BYD completed its Thailand plant in an impressive 16 months. With an annual capacity of 150,000 vehicles, the facility covers stamping, painting, welding, final assembly, and car component production. This ambitious project is expected to create 10,000 jobs. Notably, BYD unveiled the Dolphin model as its 8 millionth new energy vehicle during the inauguration.

BYD’s success in Thailand is remarkable. For eighteen months within the past two years, it has held the title of pure electric vehicle sales champion. Currently, one out of every three electric vehicles sold in Thailand bears the BYD brand. Looking ahead, BYD plans to introduce more pure electric and plug-in hybrid models in the Thai market.

Global Leadership in New Energy Vehicles

BYD’s global expansion is evident. In 2023, the company achieved a staggering 337% year-on-year increase in exports, totaling 243,000 vehicles. During the first half of this year, BYD sold 1.607 million new energy vehicles worldwide—a 28% year-on-year growth. Impressively, over 203,000 of these vehicles were exported, reflecting a remarkable 173.8% year-on-year increase.

BYD’s new energy vehicles are now available in 88 countries and regions. The company has established passenger car production bases not only in Thailand but also in Brazil, Hungary, and Uzbekistan.

As an industry leader in new energy vehicles, BYD continues to drive innovation and sustainable transportation on a global scale.

© 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: Don’t Be a Mortician Waiting for the Market to Get Sick

When you’ve identified a great company that promises significant growth and returns over the next 20-30 years, the temptation to wait for a price decline before adding it to your portfolio can be strong. However, is this the best strategy?

Warren Buffett addressed this very question at the 1996 Berkshire Hathaway Annual Meeting. “I think it’s better just to own them,” he advised. He likened the strategy of waiting for a market panic to buy a great company to a mortician waiting for a flu epidemic, implying that such an approach may not be very effective.

Buffett’s insight suggests that when you find a high-quality company, it’s generally better to invest in it rather than waiting for a potential price drop. However, this doesn’t mean you should buy at any price. Buffett himself cautions against purchasing stocks at “egregious prices.” Therefore, while it’s important not to delay your investment unnecessarily, it’s equally crucial to ensure that the price you’re paying is reasonable relative to the company’s value.

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 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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CORT

Berkshire’s CORT Events Expands in Texas with New Round Rock Warehouse

(BRK.A), (BRK.B)

Berkshire Hathaway’s CORT, the nation’s leading provider of home, office, event, and trade show furniture rental, has announced the expansion of its trade show and event division, CORT Events. On July 1, a new warehouse opened in Round Rock, TX, to serve Austin, San Antonio, and the surrounding regions.

Damon Ross, CORT Events Senior Vice President, expressed enthusiasm about the expansion, stating, “We are thrilled to expand our event and trade show offerings and bring our exemplary service to this exciting market. Austin has a reputation for hosting innovative, exciting events, and we look forward to partnering with our clients in this rapidly growing event and convention city.”

The new warehouse is expected to positively impact the local economy by creating jobs in Round Rock and fostering partnerships with local businesses. This move underscores CORT Events’ commitment to the communities it serves.
As the nation’s largest event and trade show furniture rental company, CORT Events boasts 16 warehouses across the country. They offer a wide selection of furnishings, lighting, and event drapes, along with free interactive design tools to assist meeting, exhibit, and trade show planners in creating engaging, functional spaces.

Daniel Tiepelman, CORT Events Vice President of Operations and Asset Management, emphasized the strategic importance of the new location, stating, “Opening a new location in the heart of Austin, Texas, is not just a strategic move to grow our footprint. It is about a commitment to bring our customers closer to an unparalleled trade show and event solution with increased service levels in Austin and surrounding areas. We are excited to better serve our partners with this new location.”

Austin, known for hosting large annual events such as SXSW and Formula 1, is home to major companies like Dell, Apple, Amazon, and IBM. The Austin Convention Center is undergoing renovations, expanding to 1 million square feet with 360,000 square feet of expo space.

CORT Events also operates warehouses in Dallas and Houston, further solidifying its presence in the dynamic Texas market.

© 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.

Categories
BYD

BYD Expands into the Caribbean with New Trinidad and Tobago Dealership

(BRK.A), (BRK.B)

BYD, the Chinese automaker backed by Berkshire Hathaway, celebrated the grand opening of its first dealership in the Caribbean on May 30, located in the Republic of Trinidad and Tobago.

The event drew a crowd of over 200 guests, including notable figures from politics, commerce, media, influencers, and BYD car owners. Among the distinguished attendees were Fang Qiu, the Ambassador of the People’s Republic of China to Trinidad and Tobago, and Randall Mitchell, the Minister of Tourism, Culture, and the Arts of Trinidad and Tobago.

The new store, designed by Gensler, features sleek and fluid lines that create a unique aesthetic identity, reflecting BYD’s forward-thinking approach. Remarkably, the dealership was completed in just four months, setting a new standard for rapid retail outlet construction in the Caribbean. The space includes areas for negotiation, a boutique exhibition, and the BYD Dream Bar, providing a cozy and immersive automotive purchase experience.

During the opening, BYD showcased its full model lineup to the local market, highlighting vehicles such as the BYD YUAN PLUS, BYD DOLPHIN, and BYD E6, with a special focus on the flagship BYD SEAL. This premium sedan, with its dynamic and stylish design, embodies BYD’s Ocean Aesthetic design language. Guests enjoyed hands-on experiences with the innovative karaoke system and VTOL discharge capabilities of BYD’s new energy vehicles, garnering widespread appreciation for the sophisticated design and smart technology.

BYD has now introduced a range of new energy vehicle models in the Caribbean, solidifying its presence in nations including Jamaica and Trinidad and Tobago. Looking forward, BYD plans to deepen its collaboration with local dealerships, leveraging advanced technologies and maintaining high-quality standards. This initiative aims to offer a comprehensive lineup of new energy products to consumers, accelerating the shift towards sustainable transportation within these island communities.

BYD’s new energy initiatives now span over 80 countries and regions worldwide, continuously driving the global development of the NEV 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.