Month: January 2026

Categories
BNSF

BNSF Plans Steady $3.8 Billion Capital Investment for 2026

(BRK.A), (BRK.B)

At the Midwest Association of Rail Shippers winter meeting on January 14, 2026, BNSF CEO Katie Farmer signaled a steady approach to capital investment for the year ahead. She indicated that BNSF’s 2026 capital spending is expected to be in line with 2025 levels, which totaled approximately $3.8 billion.

The investment will focus on maintaining the railroad’s infrastructure while continuing to enhance safety and improve the customer experience. Farmer’s comments underscore BNSF’s commitment to long-term reliability and service quality, even as the broader transportation and economic environment evolves.

© 2026 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
Lessons From Warren Buffett

Lessons From Warren Buffett: The Best Investment Is in Yourself

When people begin exploring the world of investing, it’s common to ask: Should I put my money in stocks, real estate, commodities, or currencies? For Warren Buffett, the answer is surprisingly personal—he believes the best investment you can make is in yourself.

“I think that the best investment you can have, for most people, is in your own abilities,” Buffett said at the 2005 Berkshire Hathaway Annual Meeting.

To underscore the value of personal potential, Buffett offered a striking analogy: “I would be glad to pay [a student] one hundred thousand dollars, cash up front, for ten percent of all their future earnings… I’m valuing the whole person at a million dollars.”

Hear Buffett’s full explanation

See the complete Lessons From Warren Buffett series

© 2026 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
Insurance

Berkshire Hathaway Claims Top Spot in AM Best Global Insurance Ranking

(BRK.A), (BRK.B)

Berkshire Hathaway Inc. has moved into the No. 1 position in AM Best’s ranking of the world’s 25 largest insurance companies by nonbanking assets, surpassing Allianz SE. Berkshire Hathaway reported nonbanking assets of $1.15 trillion, marking a significant milestone in the latest global insurance industry standings.

The rankings were released in the January 2026 issue of Best’s Review and are based on AM Best’s BestLink data and additional research. Allianz SE, which held the top position for five consecutive years, slipped to No. 2 despite growing its nonbanking assets by 6.2% to $1.09 trillion.

The remainder of the top five insurers by nonbanking assets remained unchanged, with China Life Insurance (Group) Co., Ping An Insurance (Group) Co. of China Ltd., and Prudential Financial Inc. ranking third through fifth, respectively. Several major Chinese insurers continued to post asset growth, though gains were partially offset by a weaker yuan against the U.S. dollar.

While Berkshire Hathaway led by assets, UnitedHealth Group Inc. continued its dominance by net premiums written (NPW), holding the top spot for the 11th straight year. UnitedHealth grew NPW by 6.2% in 2024 to $308.8 billion. Berkshire Hathaway ranked ninth globally by NPW, reflecting its diversified insurance operations across property, casualty, and specialty lines.

Berkshire Hathaway’s rise to the top of AM Best’s asset-based ranking underscores the company’s scale, financial strength, and long-term growth strategy, further cementing its position as a global leader in the insurance industry.

© 2026 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
Lessons From Warren Buffett

Lessons from Warren Buffett: Why the Moat Matters More Than Management

While strong leadership is valuable, Warren Buffett believes that the true cornerstone of a great investment is a business with a powerful competitive moat.

“If you have a big enough moat, you don’t need as much management,” Buffett said at the 1999 Berkshire Hathaway Annual Meeting, echoing a core principle of his investment philosophy.

He referenced investor Peter Lynch’s famous line about preferring companies so resilient that “an idiot can run it, because sooner or later one will.” The point, Buffett explained, is that truly great businesses are those protected by enduring advantages—moats that safeguard profitability regardless of who’s at the helm.

Such businesses are rare, Buffett admits, but when found, they offer investors the kind of long-term security that even top-tier management alone can’t guarantee.

Hear Buffett’s full explanation

See the complete Lessons From Warren Buffett series

© 2026 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 HomeServices California Properties Announces Key Leadership Promotions

(BRK.A), (BRK.B)

Berkshire Hathaway HomeServices California Properties has announced the promotions of Glen Wellbrock and Christina Collignon, signaling a new phase of growth and innovation for the brokerage as it continues to evolve alongside a changing real estate market.

Wellbrock, previously Senior Director of Marketing, has been promoted to Vice President of Business Initiatives. Christina Collignon, who most recently served as Content Marketing Manager, has advanced to Director of Marketing. Together, they bring more than 16 years of combined experience with the company and a shared focus on strengthening agent support through modern, adaptable strategies.

“In a market that continues to evolve, agents need a brokerage that evolves with them,” said President Brent Consedine. “Glen and Christina understand how to support agents in a competitive, fast-changing environment, and their leadership directly enhances the tools and resources our agents rely on.”

In his new role, Wellbrock will focus on driving growth through streamlined, technology-driven initiatives that build on the company’s iconic brand. Collignon will lead marketing efforts that elevate the brokerage’s voice across Southern California, spotlighting agents, communities, and innovative storytelling to build trust and visibility.

Both leaders are expected to unveil new initiatives in 2026 aimed at enhancing agent success and positioning the company for continued growth. With these promotions, Berkshire Hathaway HomeServices California Properties reinforces its commitment to innovation, leadership development, and delivering value to its more than 2,200 sales associates across the state.

Berkshire Hathaway HomeServices California Properties is a wholly owned subsidiary of Berkshire Hathaway’s HomeServices of America, Inc., supporting more than 2,200 sales associates across 42 offices from San Luis Obispo to San Diego. In 2024, the company’s agents facilitated more than 6,700 transactions, generating over $11.4 billion in sales volume.

© 2026 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
Marmon Group

Marmon Rail Launches Transco Rail Services as Unified Repair Brand

(BRK.A), (BRK.B)

Berkshire Hathaway’s Marmon Rail has introduced Transco Rail Services, a unified repair identity that brings together UTLX Field Services, Procor Field Services, and Transco Fixed Repair Shops under one name. The move creates a single, clearly branded partner for railcar owners and shippers, simplifying access to shop repairs, on-site programs, mobile railcar repair, and mobile tank car cleaning—while maintaining the same safety, compliance, and quality standards customers expect.

“Customers have asked for a simpler way to engage our network,” said Bob Nelson, Group President of Transco Rail Services. “With one identity, one standard, and clear accountability, it’s easier to schedule work, reduce handoffs, and keep fleets in service.”

The new brand reflects an integrated approach already operating across North America, allowing customers to tailor the right combination of on-site support and fixed-shop capacity to their fleet needs—now under a single name designed to make doing business easier.

Leadership emphasized that while the name is new, the foundation remains unchanged. “Our people, safety programs, and disciplined quality procedures continue to be the basis of every job we do,” said Craig Rioux, President of Transco Shop Services.

UTLX and Procor will remain Marmon Rail’s brands of record for manufacturing, full-service leasing, and leased fleet repair. Transco Rail Services will continue delivering on-site and mobile repair services for the UTLX PROX fleet, while also supporting the broader railcar owner community.

Effective January 1, Transco Rail Services began appearing on all communications, with the new logo rolling out across uniforms and facilities. The organization supports customers across North America through 13 full-service fixed shops and more than 100 on-site and mobile repair locations, offering inspections and qualifications, running repairs, heavy shop work, and tank car cleaning for tank and freight cars of all manufacturers.

© 2026 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
BNSF

BNSF Reaches Major PTC Safety Milestone on Montana Lines

(BRK.A), (BRK.B)

BNSF marked a significant rail safety achievement on Dec. 9, 2025, with the full implementation of positive train control (PTC) technology on the former Montana Rail Link (MRL) lines. The rollout began in June with 36 miles placed into service, followed by three additional segments, bringing the total to more than 216 miles of PTC protection on the MRL Subdivision within BNSF’s Montana Division.

The milestone reflects more than two decades of investment by BNSF in PTC, a critical safety system designed to prevent train-to-train collisions, derailments caused by excessive speed, and unauthorized train movements. PTC also protects employees working on the track and ensures trains do not move through switches that are improperly aligned.

Across its network, BNSF has installed PTC on nearly 17,000 miles of track—well above the approximately 15,000 miles mandated by the Federal Railroad Administration. According to Phil Mullen, director of Network Control Systems, BNSF chose early on to exceed regulatory requirements to enhance safety for employees, the public, and the communities it serves. The MRL installation was completed four months ahead of the federal deadline through close coordination between network control, signal teams, and Montana Division leadership.

PTC integrates digital wireless communications, GPS, and onboard computing to provide locomotive crews with real-time information on speed limits, authority boundaries, work zones, and upcoming signals and switches. By issuing warnings and automatically stopping trains when necessary, the system not only prevents violations but also improves situational awareness and operational efficiency. As BNSF continues to refine and expand PTC, the technology remains a cornerstone of the company’s commitment to safe and efficient rail operations.

© 2026 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
Lessons From Warren Buffett

Lessons From Warren Buffett: Missing the Top Isn’t a Mistake

Conventional wisdom suggests investors should aim to buy low and sell high—ideally at a stock’s peak. But Warren Buffett takes a different view.

At the 1998 Berkshire Hathaway Annual Meeting, Buffett explained that he’s unbothered when stocks he’s sold go on to climb higher. In fact, he sees it as a positive sign.

“I would worry, frankly, if I sold a bunch of things right at the top,” he said. “That would indicate that I was practicing the bigger fool-type approach to investing, and I don’t think that can be practiced successfully over time.”

Instead, Buffett believes selling a stock that later rises even more is often a sign that you’ve invested in strong businesses—exactly what a long-term investor should aim to do.

Hear Buffett’s full explanation

See the complete Lessons From Warren Buffett series

© 2025 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
Acquisitions

Berkshire Hathaway Completes OxyChem Acquisition

(BRK.A), (BRK.B)

Berkshire Hathaway has completed the acquisition of OxyChem from Occidental Petroleum in a deal valued at $9.7 billion, subject to customary post-closing purchase price adjustments. The transaction brings one of North America’s leading chemical producers into Berkshire Hathaway’s portfolio.

Headquartered in Dallas, Texas, OxyChem operates across the United States, Canada, and Latin America and is a top-three U.S. manufacturer of polyvinyl chloride (PVC), chlor-alkali products, chlorinated organic chemicals, and calcium chloride. The company produces essential chemicals used in a wide range of everyday and industrial applications, including water treatment, pharmaceuticals, healthcare, manufacturing, automotive production, personal hygiene products, and residential and commercial construction.

Following the acquisition, OxyChem will continue to operate under its existing leadership. Wade Alleman will remain president and CEO, ensuring continuity in management and strategy as the company moves forward under Berkshire Hathaway’s ownership.

© 2026 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.