35 Burst results for "Berkshire Hathaway"

Discussing The Golden Handcuffs Trap With Graphic Designer Anthony Banks

The Futur

02:42 min | Last month

Discussing The Golden Handcuffs Trap With Graphic Designer Anthony Banks

"So you're you're working a staff job and you're thinking okay. Is this just me slowly dying. And i'm getting paid and there's a comfort and security in knowing that there's a regular paycheck distress over finding work all the time but then there's no real fast way to get ahead right. Yeah i mean there's there's always move out to up that's kind of what we do In our industry but then you just end up at another job. Kind of just biding your time. Until you think you're ready for a promotion or a pay raise or something and then you just move somewhere else at. It's it's just like a slow predictable path and it's not very appealing when i think ahead like ten twenty years. Yeah and how long have you had this job. I've been at this job a belt three and a half years which is about the the average stint that. I'll i'll be at any one place i see. So you're coming up on that and you're getting the aging yen. Okay let me ask you a couple of questions. Are there a lot of job opportunities. In nebraska there are I live In the capital. Which is lincoln. And i work in the biggest city which is omaha That's where berkshire-hathaway is based at of. There's there's a lot of industry here. There's a lot more design in advertising. Things like that than i would have ever imagined when i first moved here. I'm i'm originally from southern california and you have this. Perception of the mid west is just farms and cows and All that kind of stuff. And i've been shocked. At how much designed there is here. Okay so there's plant it's a healthy job market for a person with creative services or craig's skills right. Oh absolutely okay all right. Do you feel that. You have to stay for certain reason that i need to stay in my position I don't feel any compulsion to stay. I can't say in all honesty that this has been the best job company culture that experienced in. Gosh like but twenty years. I've been now all the stuff i mean. It's it's it's rare you know so it's the idea of of leaving it for really anything else especially another company. That's kind of not appealing. Because i know what the alternative could be like and that this is rare. So there's that part of it that's that's teetering me there and i mean they pay me well. I have great perks So it's all is that The golden handcuffs. A little

Hathaway Berkshire Nebraska Omaha Lincoln Southern California Craig
"berkshire hathaway" Discussed on MarketFoolery

MarketFoolery

03:35 min | 2 months ago

"berkshire hathaway" Discussed on MarketFoolery

"I can respect that whether you agree with it or not. That's a different story entirely. But these guys are running the show and they have a pretty good idea of what the business is doing. And i think they are very disciplined investors to me. I think the interesting question for berkshire hathaway really is what this company looks like in the future. I mean at some point or another. It boils down to greg able as the ceo. And todd and ted leading the way with those investment portfolios so you have to feel like there is going to be a pivot maybe towards tech or towards more forward-looking ideas whether that happens or not i guess remains to be seen. I feel like it. It has to at some point which which you know. What does this business look like. Then because if you have these cash cow insurance businesses in you have some folks who feel more comfortable. Investing in tech i mean. Munger buffett really. That's that's not really been their forte. I mean they've been very clear about that. This could be. This could be a little bit of a different looking investment portfolio here over the coming decade berkshire hathaway two point. Oh so to speak. Which could be exciting for investors. I think it could you know. I don't want to knock the underlying business. I mean you look at sort of the the profits generated from operations quarter. We'd look good. That's what's fueling. That's what's funding the share buyback. So the you know they've done such a good job finding an acquiring all these businesses that generate cash. It's just that for about a year. Now this has been the dominant story with you. Know with this stock. And i'm i'm sure if i were shareholder i'd be perfectly fine with this but just as someone who is not a shareholder. I'm like really you don't want to spend any. You don't wanna take twenty eight billion and go by mccormack and get some spice in that. That's gotta be some right. I mean seaver like it just. That's just like you'd find underneath the couch cushions right. Yeah i don't know it's really. You wonder what goes on behind closed doors. I mean allocating capital is difficult in the bigger. You get the more difficult. It gets particularly if you have such a long track record of success because expectations are even higher right. I mean people expect you to do something genius. Because you're warren buffett charlie munger investing is is easier as difficult as you want to make it and it feels like right now..

berkshire hathaway Munger buffett todd ted greg mccormack seaver charlie munger warren buffett
"berkshire hathaway" Discussed on MarketFoolery

MarketFoolery

03:35 min | 2 months ago

"berkshire hathaway" Discussed on MarketFoolery

"It would amount to a bolt on acquisition for a lot of bigger players out there in the tech space. I mean it wouldn't take anything just a just a by this company up and in added to your to your portfolio so i didn't didn't make the recommendation based on that but when i was doing the research for this business that was one thing that kept on coming back to my mind was like i just it really feels like given the technology that they own given the numbers that they continue to report an in given how many devices this company is in giving companies. Technology is in it. it's difficult for me to imagine. In ten years that it wouldn't be snapped up but stranger things have happened. Certainly speaking of deep pockets berkshire-hathaway second quarter profits were seven percent higher than a year ago. And we can talk about the reopening boosting berkshires railroad and energy businesses. But this really seems increasingly like share. Buyback story this. I mean they are buffett and munger are sticking to their guns in terms of not overpaying for acquisitions their cash pile is only getting larger even with the share buybacks. I think it's one hundred forty billion dollars now and look. I'm not if you're a shareholder. I mean the stocks up twenty three percent this year. you know. it's not exciting. But but a stock going north is true. Yep stock going up is is an interesting and noteworthy stock right. That's one that makes you smile. And i think that with berkshire hathaway. We're kind of getting what we more or less expect. I think with the business like this. At this point it's life not lighting the world on fire. but but still doing. Well i mean you look at the last three and five years i believe it's underperformed the market a little bit but you stretch that timeline further out and it starts to look better and that's that's kind of the idea behind this business. I mean you you look at the business like this and you sort of own it for a long long time and you never really worry about it and and this quarter. I think really explain why. I mean you saw nice bounce back from what was a difficult year last year. Operating earnings up twenty one percent from a year ago because of what you noted their performance and energy railroads obviously insurance is going to be a little bit more reliable but yeah it does feel like this is a does feel like this is a story where the conversations could become more and more about how do we return value to shareholders in. I know there are a lot of folks out there who would love to see berkshire start paying a dividend. I kind of feel like that would make sense at this point for them. I'm not a shareholder of berkshire hathaway. But it feels like they. Could they could do that. And and and it would. It would probably make a lot of investors feel. You'll pretty good. Because they are repurchasing a ton of stock to your point there they repurchase six billion dollars in stock during the quarter. I think that brings the six month total better than twelve billion basically on track for what they did last year. So yeah they're not going to go out there and overpay for anything and and it's it's a market where valuations are stretched really in a lot of ways and it feels like they just believe that berkshire hathaway today represents a better value than most of what's out there. And i mean..

berkshire hathaway berkshire buffett
"berkshire hathaway" Discussed on MarketFoolery

MarketFoolery

04:21 min | 2 months ago

"berkshire hathaway" Discussed on MarketFoolery

"It's monday august ninth. Welcome to market. I'm chris with me. Today jason buzzer. It's monday jason. How are you that monday. I'm well how are you doing. Are we've got berkshire-hathaway latest results..

Kathy Ireland, Supermodel and Entrepreneur, on Her Business 'Kathy Ireland Worldwide'

The Eric Metaxas Show

01:27 min | 2 months ago

Kathy Ireland, Supermodel and Entrepreneur, on Her Business 'Kathy Ireland Worldwide'

"An amazing career. As one of the top models in the world that's how you came to prominence. You're a woman of faith and now you have a huge business how to even describe it. You know kathy ireland worldwide kind of says it right there but you're you're into so many things. Let's just talk about that for a minute. Because i'm fascinated with this this you eric so grateful. I work with incredible team are remembers members. We've been together over thirty years. We've got our millennials than our jin z's but as far as how we would describe it we've been compared to mini conglomerate berkshire hathaway on a much much much much smaller valuation. Warren buffett is someone And i frequently will compete in newspaper tossing competitions. We both had paper routes his kids for the opening of the way shareholders meetings in that. We started with a single pair of socks. When i was pregnant aging model at my kitchen table and now our company encompasses everything from lighting to furniture dash in entertainment publishing. Children's it's fintech. it's great. We love what we do and me get to work with amazing people and serving credible

Kathy Ireland Berkshire Hathaway Eric Warren Buffett
"berkshire hathaway" Discussed on The Playbook

The Playbook

04:27 min | 2 months ago

"berkshire hathaway" Discussed on The Playbook

"I mean that that is a space that we have commanded Since our inception and i feel like we need to make a stoller play in the luxury market. And we've already started taking some steps to do that But i think it's really important and critical as we continue to grow that we have a real focus on luxury while not forgetting the other price points that make up the bulk of our business. So that's that's the second thing and then the third thing. And i think this is really key because it's something that i've focused on real heavily in my former company and it's also something that berkshire hathaway who services focused on and to me. It's a real differentiator and that is our culture Because everybody has technology everybody has marketing. I might get something. That's better than you today but the at the end of the day. What is it that draws people to the brand and that is the respect the longevity the stability the security All of those things that are so meaningful to certainly our clients But also to realtors broker owners and one of the things that we need to exploit a little bit more is all of the our our ability to cross over one another in terms of not just being silent oriented in my company but reaching out across all of the the wealth of resources we have in the berkshire hathaway home services world. It's something that we've done a good job..

berkshire hathaway
"berkshire hathaway" Discussed on The Playbook

The Playbook

03:36 min | 2 months ago

"berkshire hathaway" Discussed on The Playbook

"On this episode of the playbook. I have christie budnick. ceo of berkshire hathaway home services. And we're gonna learn about how important our mom is in becoming a ceo of one of the biggest companies in the world. Join me all this more on the playbook. This is entrepreneurs the playbook each week. I bring you some of the greatest athletes celebrities and entrepreneurs to talk about their personal and professional playbook to success in what made them champions on the field and in the boardroom..

christie budnick berkshire hathaway home servic
David Vlez on Building the Branchless Bank

Invest Like the Best

02:17 min | 3 months ago

David Vlez on Building the Branchless Bank

"So david i think an interesting entry point here is fun and interesting once since the news was just announced that berkshire hathaway made a very large investment into your company. And you just told me that they're the largest bank investor ever so that's quite an interesting dynamic. Can you walk us through this story. Why do you think berkshire was so interested in your business out of this down. To be completely honest we never really considered him as potentially investor as we've seen him very actively investing in traditional banks. Intriguing convents where one of the biggest investors and goldman sachs surprises. Today they to be best for bank of america and they tend to look more traditional recumbents in more mature industries but we had a conversation with them a few months ago and they started digging in and they were very very curious can really really good questions about the market size of the unit economics of the business about cohorts very thoughtful understanding financial services. In what we're doing here in the mark because howard getting with some of the traditional banks in latin america and in a few weeks they were very excited and very willing to lead around in. No bank can so for us has been we see days and i think the market has proceedings a bit of the big validation of the business model validation of or ability to show bags eventually your ability to surpass traditional banks in the future financial services. What do you think are the most important differentiator between what will call the incumbent banks that maybe berkshire invested in more traditionally versus new bank. What are the largest important differences for those out there listening to understand the thing. The first one is the consumer obsession and a culture that is based on consumer obsession. Nah i don't think this is shirley specific to financial services. I think what common denominator of incumbent industries either financial services. You look at insurance or even media or transportation is that after. Let's say six. Seven decades of traditional capitalism you ended up with a number of players oligopolies where four five companies effectively owned the markets.

Berkshire Hathaway Berkshire Goldman Sachs Bank Of America David Latin America Howard Shirley
Warren Buffett Resigns from Gates Foundation

AP News Radio

00:40 sec | 4 months ago

Warren Buffett Resigns from Gates Foundation

"Berkshire Hathaway chairman Warren Buffett has resigned as a trustee of the bill and Melinda gates foundation bill and Melinda gates revealed they were divorcing after twenty seven years of marriage but said they continue to jointly run their foundation one of the largest philanthropies in the world Warren Buffett is one of three members of the foundation's board with recent donations he's given more than thirty three billion dollars to the bill and Melinda gates foundation now he says he's resigning in a statement Buffett said he's been an active trustee and that he's resigning from the post just as he's done with all corporate boards other than Berkshire Hathaway Buffett is now ninety years old describing his job but that said I'm clearly playing any game that for me has moved past the fourth quarter and into overtime I'm Jennifer king

Bill And Melinda Gates Foundat Warren Buffett Berkshire Hathaway Melinda Gates Melinda Gates Foundation Bill Berkshire Hathaway Buffett Buffett Jennifer King
"berkshire hathaway" Discussed on Acquired

Acquired

03:33 min | 4 months ago

"berkshire hathaway" Discussed on Acquired

"Hardware suite i've because you have to but they're the most connected my to carve out suburban the first is i somehow never saw goodfellas until this week and that movie is just so choice on so many levels. I mean it probably came. Just because i- listeners will know i just finished the sopranos and that was my previous carve out and wanted more and the cast has like twenty five overlapping people. It's the same freaking people. It's amazing but it's it's a frigging work of art for anyone who has who hasn't seen it. I mean it's like scorsese. As bast it's amazing direction. It's amazing cinematography that dialogue is exceptional. It's just a just a tremendous person's life. I've never been like a gangster movie person. Harare thought i was but this is so good then the the og. I have not seen it. I have to watch it. It's great and it's not like you know like obviously there's the godfather and i've got a long rabbit hole to go down like truly. Oh gee just watch one to don't do that. That's what i hear. And then my second one is the goodfellas soundtrack. It is like hit after hit after. Hit a george harrison eric clapton and aretha franklin and the the film sort of finishes with layla by derek and domino's and that is just like wrap up any epic epic story. I think we had the rights which layla the electrical trinity cousteau electric. Although the acoustic is also great is great. I'm an electric fan. They're both the electric creates more of a the sort of like epic conclusion mood that is appropriate for that will right air clapton and see if we can get the rights to use that on the fate out of this episode. Great great actually. We probably won't. I'm sure for sure whether or not you're a fan of of the movie of seen. Go listen to the soundtrack on spotify. So great when dino when goodfellas came out early nineties. I wanna say like ninety one something like that shortly before the solomon brothers scandal while while warren was still in his his real heyday. Exactly exactly all right. Listen we're going to leave it there with that. Thank you so much to our sponsors. They've been wonderful tiny cap chase vouch. Go check them all out. We have a slack. You know this come hang out with us. you'll like it. We have an l. p. program for people who want to be closer to the show you get to hang out on the zooms live with us or with people like brad stone when we're recording a book club episode with them. It's super fun. And frankly i don't you know all that stuff is great and if you want to engage more deeply in the show with you should but you know there's nothing like sharing an episode with a friend or social media you want to but just passed this along if he liked it. David i love getting to share these stories with new people. So and thank you for joining us on this journey. We're so lucky that we get to do this. And it's so much fun but like this has been a whole new level of fun. At least we saw eleven pm wrapped in this room for four hours. It has so funny. Awesome all right. Listen thank you so much next time. We'll see you next time..

David aretha franklin Harare four hours eleven pm second one derek early nineties spotify warren this week brad stone eric clapton first both twenty five overlapping dino one george harrison ninety one
"berkshire hathaway" Discussed on Acquired

Acquired

03:37 min | 4 months ago

"berkshire hathaway" Discussed on Acquired

"Future ahead for the internet today to me is like los angeles in nineteen a fifty or whatever. It was when charlie was looking for a city. What was it that was large enough to have an impact but still small and growing enough that he could become somebody there. Yeah that's the internet. And if there's one thing i've taken from this it's that you know that may change some day but for the period that we're in and going forward and despite all the ups and downs in new delhi bitcoin. New theory of defy all crashed lake. You fifty percent this past weekend. It's all noise like the internet is still the future some listener out there and please drop this in the slack or tweeted us. If you do this we need a meme of With warren and his slide saying never bet against america. We need david rosenthal. Never bet against the internet's never bet against the internet. That's my boy i love. It outs carve outs. let's do it. i've got to one very related and the other very unrelated except to my joke at the beginning of the episode. The related episode is a book fill. Fischer's common stocks and uncommon profits. A classic really the counterpoint to the buffet philosophy and the value investing tribe fill is the father of growth investing and this book was published in nineteen fifty. Eight and phil lived in the bay area here in san francisco. And i will confess. I haven't finished the book yet. I'm still in the middle of it. But i'm riveted the only reason i haven't finished this because we had to finish this episode. It's amazing fill like basically saw the future of what tech company like dynamics. Were going to be way back in the day. And he really writes about lake the value of corporate indy. And this sort of paradox. that like you can't measure the value on a balance sheet of like corporate aren rnd and the cost of it may be high and you don't know but the cost of not doing corporate rnd even higher really great but highly highly recommend. It also believe recommended to me originally by ho-nam who you were just talking about. He's everywhere he's everywhere and then my second carve out is the xbox series s. I finally got one sweet so the specifically looking for the because like i don't need you know i'm thirty six years old the x. I don't need like i get. My eyes can't even see well enough for the graphics but the s is awesome. This thing is pretty cheap. I think it was two ninety nine which is not that cheap but that s in game pass. It works out to lake. I don't know what is it like four hundred dollars or something like that all in for a year and you get access to hundreds of games and all the best ones. I've been playing halo master chief collection and it's like nah reference. That's hilo reference giving it literally is like net flicks for gaming and it's so great. I haven't touched my switch. Since i got highly recommend if you can find a series x series s game past rocks and i think it's on the xbox one to few you can use it on the previous generation.

david rosenthal san francisco hundreds of games halo master fifty percent charlie xbox xbox one Fischer four hundred dollars today thirty six years old Eight los angeles second a year nineteen a fifty one thing two ninety nine nineteen fifty
"berkshire hathaway" Discussed on Acquired

Acquired

03:55 min | 4 months ago

"berkshire hathaway" Discussed on Acquired

"Five thousand dollars in share so great okay. So this is good. This is the next centigrade in criteria. Maybe we can jump back to an overall view at the end. And let's compare that thirteen point five percent member of the buffet partnership limited. That was twenty nine point five percent in the last episode where we talked about the heyday of berkshire hathaway ending in the solomon. And that was a twenty seven percent. I are the eighties and the late seventies through the mid nineties so it is diminished considerably which they told us it would because of the amount of capital. They're managing but still yup. So what do we think is this a be for this period to be. Yep still definitely beat the p like beaten the market for sure but just not to his previous standards okay so then recent years so i did a slightly different. What is recent years mean Let's take the last five years starting from the apple. Investment is almost exactly five years ago. What's your analysis. So this was interesting and telling me like like we've been saying that apple investment so amazing in the running for one of the best single investments of all time yet. Berkshire is so being in this law of gravity around the capital is so meaningful and warren's other investments were so bad that in aggregate berkshires stock price performance over the last five years on a multiple basis is almost exactly the same as the snp even including apple it has tracked the market and not outperformed at all for the last five years. Now take out apple. it's underperformed about half a turn on a multiple from the market ted and totter making money but warren's not getting paid out any of his kerry boren is literally doing worse than the market in the last five years right. Oh that's so interesting to think about. Yeah because he's necessarily underperforming the snp. Because he said ted and todd were overperforming yup yup yup and berkshire as a whole as to simply even dragon as pretty bad. I mean that's a c to me and it's not it's not worse than a see because it's not like it's a hedge fund where they're taking into like you're just it's the exact same thing is being an index fund. Yep i think that's right. A c yeah okay so so now. The money question literally the money. What are you doing with the money. Are we keeping it in berkshire. Are we buying every selling. Are we holding so. This is the moment. I reveal for everyone. Ten hours in. I actually have never held berkshire-hathaway. We've done all of this work. Yeah this is not investment advice. This especially this part is not investment advice and we really do urge you to talk to someone who knows about this stuff when considering making a purchase. But now i've never owned. I thought about it a lot and especially in this research considered by many times in the place. I basically arrived. Is it's very conservatively managed as a berkshire expert quoted to me. It's a good widows and orphans stock And frankly i think it's a good way for someone who's rich to stay rich. Because of the way that they manage capital. I mean they. They don't dividend out. So if you make a bunch of money every year then you don't have the high taxes on dividends will continue to compound. You can sort of sell shares when you want to sell shares to free up some cash. It's not going to have a really big down year. Maybe if there's an extreme hurricane event but you know it's not going to have five really big down years so i think that question comes down to like. Where are you in your investing cycle in your life. And i'm not sure that it makes sense for young people to buy berkshire or at least people are young in their wealth..

twenty seven percent Ten hours Five thousand dollars late seventies five years ago mid nineties eighties berkshire apple todd thirteen point warren five five percent twenty nine point Berkshire one ted berkshires single investments
"berkshire hathaway" Discussed on Acquired

Acquired

05:26 min | 4 months ago

"berkshire hathaway" Discussed on Acquired

"For thirty seven billion dollars in berkshires largest deal ever bigger even oh skipped over the railroad in two thousand nine the but they finally ns about the railroad good for that. That was a good deal. That was yep that has done well for berkshire warren buffett from two thousand and eight to twenty eleven. He was good. He was good in those years but precision cast parts man of for thirty seven billion dollars last year. They took a ten billion dollar right down on that deal. So that's a dog. Then the worst though we elitist do. Oh my god tony sixteen. He starts investing in airlines. This is the who said that he was going to shoot down. Orville and wilbur. What was he thinking. Well the interesting thing is so. He sold the airlines in a panic sale. Right when the pandemic dip started and we all know of course there was about five days where you can actually buy the dip. Before it came skyrocketing back and we didn't endure a real market crash in this global pandemic 'cause monetary policy. Anyway jerome powell yeah. Buffet basically sells at the bottom with these airlines. And it's interesting. Because i don't fault him for the sale. It is a very reasonable thing to sell the airlines. Then because if the government didn't bail them out they could have all gone to zero. I mean the government was paying some airlines payroll to sort of make it through that period. So i don't even though he sold it. I think right around the worst. The bottom i blame the by your knew that he even had a comment years before that he had sort of like a is it like a romantic fascination or like a dirty habit about the about owning your lines or something like that like he knew and he still did it like the newspapers anymore so he wants airlines now to be fair to worry and again the scuttle but it here is and there's some comments to this effect that it actually was. I think ted who i got interested in the airlines. And they talked about it. You know and then warren so okay. It's kind of funny..

ten billion dollar two thousand thirty seven billion dollars last year eight wilbur Buffet two thousand nine berkshires warren jerome powell sixteen twenty eleven zero Orville about five days berkshire
"berkshire hathaway" Discussed on Acquired

Acquired

04:17 min | 4 months ago

"berkshire hathaway" Discussed on Acquired

"Yup see you can see for somebody like lear. This is total speculation rumors. That is line. This never been confirmed one way or the other but supposedly the other candidate. According to remers. Was david einhorn from a greenlight capital. I think they miss hedge fund manager but for folks like that like it's not attractive value proposition really to go work at berkshire but for todd. Who's running a small one hundred million dollar hedge fund right. This is the chance of a lifetime when this interview came out. I don't know a few years ago. Maybe more the capital pool for each investment managers. Thirteen billion dollars so like even on its own. It's a very large hedge fund. Even your little sliver that you're managing yup so huge opportunity for todd. He joins at the end of two thousand ten. It turns out though that warren charlie did not time but they weren't actually done hiring they were going to bring on as they referenced in two thousand and six they're gonna bring on several candidates. You know how we talked about on the. We haven't talked about in this series yet but we talked about this on the pinto. Joe episode. That warren does these annual charity lunches that he auctions off. The auctions actually happened on ebay which is amazing. That's awesome and i didn't realize the charity is the glide memorial church here in san francisco great great organization involved in many great things over the years in two thousand ten the same year where this is all going down. An anonymous bidder pays record two point six million dollars for lunch with warren and the next year in twenty eleven it turns out it's announced that the same bidder paid two point six million dollars again so one person is paid five point two million dollars for two lunches with way. Ted gets the job because he paid for lunches with him twice. Millions of dollars five million dollars for a job. God yes listeners. Of course we talking. About ted ted wetzlar. The other investment manager at berkshire today was before berkshire running fairly large. Two billion dollar hedge fund called peninsula capital advisors That hebron running for twelve years. He'd been immensely successful over those twelve years. He had over twelve axed. The capital in the fund so done very very well ran a concentrated portfolio his top holdings davita and direct tv. And he for two years in buys the lunch with warren and he impresses. Warren is so much in these lunches that they agree to deal to bring ted on. That's crazy that crazy and so. The wheels have to start turning at this point for listeners. Out there like okay. So ben you said there. Each running thirteen billion dollars to they get to run their own hedge funds. This is something that. I don't think we totally know what the decision making process is. You know how. How much are they there to execute the sort buffett and munger style versus. How much are they there to say. Look we we have a risk profile that we're comfortable with. Here's how we've been doing it. Go to town. Yeah i think the answer is. It's somewhere in between in terms of how much autonomy todd and ted have versus warren charlie so it turned out in two thousand eleven the same year as ted joins. There's a little bit of a scandal member. We told you to remember the name. David socal well in twenty eleven. Berkshire acquires for choirs. A chemical company named lou brazil for nine billion dollars. It turns out that the person that i got interested in acquiring said lieberthal company was david socal then running the energy business with in berkshire hathaway and widely assumed and buffet had basically implied that the name on the envelope to be.

David san francisco two years Ted nine billion dollars twelve years Warren two million dollars six thirteen billion dollars twice Thirteen billion dollars david einhorn six million dollars next year one person two thousand warren one hundred million dollar five million dollars
"berkshire hathaway" Discussed on Acquired

Acquired

05:21 min | 4 months ago

"berkshire hathaway" Discussed on Acquired

"On jeep so he did not invest in those financial firms in september. Two thousand eight. However he did get two other calls that he was slightly more receptive to specifically goldman sachs and g e. You wouldn't think of ge as financial firm but they had t. capital which large very active financial player. And they were in trouble. Did you know that. Ge's consumer facing savings bank was sold to goldman sachs. This is like maybe seven eight years ago and goldman sachs rebranded at in a sloppy ranch. Kind of a quick one gs bank and it. Satis- gs bank for like two or three years and then that became the underpinnings of mark. Oh no way. I did not know that as originally a g. financial product no way and they're both warren buffett bailouts. Two thousand eight swoop ups move ups the very next week after the lehman bankruptcy goldman must called probably during that weekend too or or shortly thereafter berkshire invest five billion dollars for preferred equity and goldman with a ten percent annual dividend. So essentially this is. It's it's like it's not preferred equity like preferred equity that you'd get investing in a startup. It's a more debt like instrument so ten percent keep on the solomon coupon i think was only nine percent so matt. This is golden with a call option for goldman to call the preferred equity back for five and a half billion dollars plus berkshire got another billion dollars of common stock warrants at a strike price of one hundred fifteen dollars a share those warrants end up becoming they got renegotiated. I think once with goldman but become quite value in its golden all told on that deal berkshire up about three billion dollars so they get about eight billion dollars back on the five billion dollars. They invested goldman pretty good for fixed income. That happens within like two years. And how long did that last did they end up completely out of goldman shortly thereafter. I think they held the equity that they exercised from the warrants for a while. But they don't end up making too much more than a billion dollars so good deal Ge when slightly less well the week after goldman on october first berkshire invest three billion dollars in ge for basically the same deal ten percent coupon warrants to buy three billion dollars of common stock at twenty two dollars a share unfortunately unlike goldman whose stock has of today is trading at three hundred and sixty four dollars a share versus the one fifteen straight price that berkshire got ge..

ten percent three billion dollars two october five and a half billion dollar billion dollars five billion dollars september three years today two years nine percent seven eight years ago Two thousand next week about three billion dollars berkshire more than a billion dollars about eight billion dollars one fifteen straight price
"berkshire hathaway" Discussed on Acquired

Acquired

05:04 min | 4 months ago

"berkshire hathaway" Discussed on Acquired

"Owned jewellery chains in america to go by yup and this is real like one thing that becomes clear in that. You know warren keeps harping on. Were so big. It's hard to move the needle and like that's really true. Great he has been forecasting this for twenty five years. That's really true at this point. Lake the law of gravity tying berkshire to the s. and p. Five hundred is like there's a lot of gravity. Yep so the giving pledge of course. It's like two thousand six when warren mixes major gift to the gates foundation. But it's not until two thousand ten that they all launch. The giving pledge wanted a takes a long. I assume it took so long because not too. Many people wanted to give away a lot of money in the intervening years between two thousand. Six and two thousand ten has a little thing called the financial crisis happened. Dun dun dun as discussed so many times on this show beginnings of airbnb and uber and cryptocurrency and on and on and on what's that article embedded into the Genesis block of bitcoin. Yes it was chancellor on brink of second bailout for banks which allegedly is mocking the fractional reserve banking system but yes it is a very deep reference in the midst of the financial crisis indeed indeed. So here's warren an entirely too. He's freshly unencumbered by the weight of having to deal with his wealth. He's back in the saddle. He's not literally unretired but like figuratively unretired again for the third time ready to go to work and he entirely have seen this movie before they were there they were leading players in the dress rehearsal of solomon in the early nineties so the lake i well. I think we know what to do here. The whole thing kicks off. I remember this so well. In march of two thousand eight. When bear stearns the storied investment bank failed. Just like solomon. the problem. At bear was nominally. It failed because they had to in-house hedge funds that were mortgage backed security hedge funds in those had huge losses white failed. It failed because bears counterparty stopped trusting their paper and stop being willing to trade with them like we saw salomon. A huge amount of their capital base turns over overnight. Because you're settling trades and you've counterparties on this trade if your counterparties no longer trust that you're good for the money they're gonna stop trading with you and then it all vicious cycle comes to a screeching halt. That's what happened with bare so during the course of one week in march from march tenth through Which is monday through the end of the week. Which would have been the fourteenth friday. So bear stearns stock head started the week trading at sixty three dollars a share and by friday the toast. They're bankrupt over the weekend now. The fed engineers and asset sale to.

america twenty five years march tenth monday one week march Six two thousand one thing uber third time warren early nineties second bailout sixty three dollars a share eight berkshire Five hundred six fourteenth
"berkshire hathaway" Discussed on Acquired

Acquired

03:51 min | 4 months ago

"berkshire hathaway" Discussed on Acquired

"All find out. Probably the reason why this was happening in two thousand six. Warren makes what was almost certainly the biggest decision and perhaps most impactful decision and philanthropic history. And i totally remember when this happened. He calls press conference and he announces that he is going to give away eighty five percent of his berkshire stock which is worth thirty. Seven billion dollars at the time and five sixth of it is going to go to the bill and melinda gates foundation for them to manage and the other one sixth is going to go to his children's foundations and the susan buffett foundation said. This is crazy. There's no warren buffett foundation. He's not going to give the money away. He's not going to have to make any of these decisions. He offloads all of it to the gates foundation. Which really is remarkable. It's like he's like boy. It's really hard to give money away. I don't know the first thing about it. I i don't. There's a lot of infrastructure required to do this. Actually that guy's already built the infrastructure. And i very much trust him so amazing. Everybody is like it. This is like win win win for warren. Everybody is like warring. You are the most amazing most generous The biggest gift in history. You have done some basic thing for humanity. This of course leads to the giving pledge that the gates is an at warren street and twenty ten and it becomes like the coolest thing in the world for billionaires to give their money away like warren is like setting me like a status symbol here and meanwhile warren getting exactly what he wants. He never has to deal with any of this. Yeah the one drawback for him has to be the fact that the gates.

thirty Seven billion dollars two thousand Warren warren street gates foundation eighty five percent five sixth twenty ten first thing buffett foundation warren one drawback one sixth susan six melinda
"berkshire hathaway" Discussed on Acquired

Acquired

03:49 min | 4 months ago

"berkshire hathaway" Discussed on Acquired

"From january again. We can't move on fast enough warranty so before. The tech bubble pops. He does one more surprising to outside. Watchers move which is in nineteen ninety nine. He buys a utility company berkshire bang utility company. This is what warren has come to like the leg. Company that provides electricity. He buys mid american energy holdings and people wanna know why why why aren't buying a utility rates in. The snowball wire was already being ridiculed for his refusal to buy technology stocks. Now he had bought the light company. How dull the energy business gets up. Did a fine for berkshire like. It's another fine of those at least money. they're fine. It does come though with two managers that warren seems to greatly admire by the way we talked about this in the pre show. But we haven't yet talked about it on the said you know how you see berkshire-hathaway real estate agents all over the place. Oh yeah that came. With mid american energy holdings they also had a real estate brokerage so weird. How does that work like. My understanding of the electric company is that it's like a public utility it's market by market. Then that were some of that must be private companies. Yeah i don't know exactly. I mean there are lots obviously lots of utilities separate utilities different geographies all across the country. Yes somehow they had a real estate brokerage in there as well so there is. Ceo of the company. One david socal and the number to remember that name ever remember that name. His number two guy named greg able the just announced to remember that name. Ceo of berkshire hathaway. Yeah that's how they come into the company where you hear much more about that later. So okay finally. All this tech stuff comes to a head in the two thousand annual meeting where warren and charlier just getting pummeled by questions from shareholders onstage in the arena asking what on earth they are doing. Why do they not own technology. Stocks everyone else's getting these five x.'s. In a year what are you doing here. Trying to make me fifteen percent. You're making me poor. Warren says quote. I don't want to speculate about high tech. And then of course he goes on to speculate. And he compares the whole thing to a ponzi scheme. And then charlie jumps in. This is my favorite. This might be my favorite charlie moment of all time. Egypt said eddie says the reason we use the phrase wretched excess is because it produces wretched consequences. It's irrational if you mix raisins with turds they're still turds all time great quote. I don't know if there is a video of this if there is i haven't seen it but i can just imagine like the entire just being like shocks like charlie munger. Just say turds like what. I think alice actually says that lighted the the snowball. But if you think about what each of them is saying it's telling it's actually quite different. Warren is saying. I don't understand this stuff. I refuse to engage not unannounced ponzi scheme. Charlie saying some different here he gets that there are raisins in the text. Acts like microsoft. And like and you know they're they're real companies in there but there are also terrance and microsoft may be doing great but if in win this whole tech bubble pops and it will splatter from the turds is gonna get all over your reasons to and dragged down and when moran says i don't understand this thing it's upon scheme he's referring.

Warren january fifteen percent charlier charlie munger moran Charlie microsoft greg two managers charlie each warren alice eddie terrance two thousand annual two guy One hathaway
"berkshire hathaway" Discussed on Acquired

Acquired

05:50 min | 4 months ago

"berkshire hathaway" Discussed on Acquired

"What thirty-five acts on their initial investment of the stuff that they own that are public markets. Before they wade into apple. Which we'll talk about later. Coca cola is their biggest single holding of stock that they don't wholly own business. Yeah it of course no longer is but yeah i mean. This is huge evan. This is one of the key legs of the berkshire stool is coke and also speaks to how different the company is now. You can barely see the coke equity value in there. Okay so back to the meeting of these two businesses here so in nineteen ninety seven. There is this amazingly perfect moment. I think this moment kevin marks A major transition point in business and industry in the world and it starts at the rise of tech and the rise of the internet and how much the world is going to change at. it reminds me of. There's the famous quote in history. I think it's about germany. Like eighteen fifties where the quotas the german history reached. Its turning point and germany failed to turn. This applies to worrying here. Investing in corporate history reached. Its turning point and warren. Fales too tired. So summer nineteen ninety-seven. We are at of course the allen and company sun valley conference and there is a panel discussion hosted by don keough with the participants three participants being one warren to roberto goizueta at the ceo of coke and three bill gates so here it is old school like the consumer brand coat and bill gates and microsoft and warren on the same stage. Everybody thinks this is going to be like a back affair. You know maybe sort of a genteel changing of the guard or something like that. But bill goes off script here so bill would later say that he meant this as a compliment but he trots out warren's him sandwich freeze when talking about roberto and done onstage. The the moderator of the panel is the president of coke and you've got the ceo of coke as one of the participants and then the other participant is like the largest shareholder and coke right and gates. His friend gates says it like you guys got it easy. Ham sandwich could run your business. And he is that to microsoft. He contrast that with microsoft where he says running microsoft is such a high wire. Act that he suspects. He's going to have to retire before he gets too old like indeed well before he gets age sixty because you need a young person. Incharge who can adapt and navigate the constant change in the technology. Business is the other panelists. Roberto is sixty five and tragically later. That year would die unexpectedly very quickly of lung cancer. Don is seventy one and warren is sixty seven so gates's literally to slapping them all in the face here and roberto sort of has the sort of stereotypical fiery cuban temporary here. He is hugely offended by this. I don't think he walks off stated he never talks to gates again for the rest of his life after this episode. I don't know how don reacted to it. Warren kinda shrug it off like he does like bills my friend. He's built. He's kind of like he's like a wild animal. You can't like brigham in public too much but the thing is like this is a major social faux pas and gates's part but like he's totally free and right all he's right and it is clearly. This seminal moment for warren where he sort of like looking laughed and he seeing the past he seeing the things he already owns these seeing these cash flowing..

roberto goizueta microsoft Warren Coca cola Roberto apple warren Don kevin roberto thirty-five acts three participants don keough eighteen fifties one germany two businesses coke age sixty bill
Tech Shares Tumble, NASDAQ Plunges to Finish at Session Lows

CNBC's Fast Money

00:38 sec | 5 months ago

Tech Shares Tumble, NASDAQ Plunges to Finish at Session Lows

"We are all over. The pharaohs action shares a roadblocks and simon property group. Post docs on the move on results will bring it in numbers but we start off with a bloodbath for big tax. The nasdaq plunging two and a half percent today for its biggest loss since mid-march the selling widespread across technology and intensifying into the clothes and nasdaq finishing app session lows and it wasn't just the high fliers crashing back to earth tech. Titans all seeing massive losses. Facebook netflix amazon apple alphabet losing a combined seven hundred billion dollars in market capitalisation. Today alone. That is more than one whole berkshire-hathaway wiped out in a single trading session.

Titans Netflix Amazon Facebook Apple Berkshire Hathaway
Greg Abel to Succeed Warren Buffett When Berkshire Hathaway CEO Retires

America First

00:25 sec | 6 months ago

Greg Abel to Succeed Warren Buffett When Berkshire Hathaway CEO Retires

"Has some big shoes to fill. The Berkshire Hathaway vice chairman will succeed billionaire Warren Buffett as CEO. Buffet confirmed the succession plan to CNBC after Berkshire's Charlie Munger spilled the beans during the company's annual meeting over the weekend. 90 year old buff, it says while he has no plans to retire, if anything happened to him, Abel would be the one to take the top post that

Berkshire Hathaway Warren Buffett Charlie Munger Cnbc Buffet Berkshire Abel
Warren Buffett's fortune tops $100B as his stock soars

Colorado's Morning News with April Zesbaugh and Marty Lenz

00:21 sec | 7 months ago

Warren Buffett's fortune tops $100B as his stock soars

"Warren Buffett. Come on down and welcome to a pretty exclusive club. After Berkshire Hathaway stock went up this week, it's CEO Warren Buffett saw his net worth go up. I nearly $2 billion Giving him a net worth of more than $100 billion, according to the Bloomberg Billionaires Index. That makes him just the sixth member of that $100

Warren Buffett Berkshire Hathaway Stock
I Cant Afford One Bitcoin! What Can I Do?

Speaking of Bitcoin

06:33 min | 8 months ago

I Cant Afford One Bitcoin! What Can I Do?

"Bitcoin is hot. Stop amidst this current bull market. We've seen a rush of new users who like most new users have no what's going on and one question of particular comes up a whole lot that i wanted to talk about today. What do i do if i can't afford one bitcoin. I'm adam levine and this is speaking of bit point. Today's always i'm joined by the other host of the show. Andreas 'em and operas. Hello stephanie murphy. I am jonathan mahan. Hey thanks to all the hosts into you listener for sitting on today's session. So i was talking to some people new to the cryptocurrency space last week and they were talking about what they were looking at making the first coins and they said that bitcoin just cost too much that it was too expensive that even if they agreed with all of the fundamental values the changes that will happen in the world. How bitcoin is a hedge for that and that bitcoin was going to. Let's say three x or five x in the next ten years and they saw that is real that they just didn't feel like transferring their wealth into something that they would never have one that they would never have one bitcoin that even if they spent a decade doing everything they could they would only ever have less than one bitcoin as a failure state as something that like emotionally. They couldn't get past. And i started thinking about myself when i was in college. I learning about bitcoin. And honestly i don't know if bitcoin had hit thirty or forty thousand dollars instead of dollar if i could have seen it as something that i wanted to get into just because of that mountain cliff of believing in something but then feeling like a failure. Because you don't even have quote unquote one of it. What do you guys think about that. What do you think people should be thinking about when it comes to that. I think that's an important psychological marker that people check in with when they're thinking about do i wanna buy this. How much does it cost to buy. One of this thing and i mean the real solution to that is to reframe. You're thinking there's other units to measure bitcoin in lots of wallets denominate their balances in mila. Bits now which is one thousandth of a bitcoin and you can change that in the settings and so you know if you could afford one million. Bitcoin would you by that. What about wants to toshi. The units are actually quite arbitrary. And it doesn't help that. The news and everything reports the price in terms of one bitcoin but that is also kind of helpful for a very long term perspective to see that it went from being worth nothing up to you know nearly fifty thousand dollars. There's other things that exhibit similar behavior for example. Some stocks have extremely high unit prices. And of course you can buy fractions of them berkshire. Hathaway is a famous example of that other things that have this kind of tendency. Are things like precious metals. You know you don't say well. I'm not gonna invest in gold because i can't afford a whole kilogram bar. Well yeah i mean. You can't but that doesn't mean that you can't get an airing. It's still gold is just a different value. And the unifies works both ways so for example instead of saying why can't afford a bitcoin but i can't afford a bit which is millions of a bitcoin. You can't afford a bit and that has a nice name. It's not merely bitcoin. Which kind of makes it sounds like a bitcoin with too many feet. That's a bad greek joke. It's not a unit that has no relationship you could also just measuring soto. She's because we all know of course are the standard as i keep getting reminded and you could choose any arbitrary unit but you can also go the other way right. You could redefined for example. Ten bitcoin as a chad hike. Very few people can really afford to buy a whole chad. But could i buy one tenth of a chat of bitcoin or desi chavez. I prefer to call it it. Oh all of these things are completely arbitrary and you can torment yourself on way or rejoice the out there in a completely arbitrary way and this is the key here arbitrary. It's not rational to focus. On any specific unit and we have a word for things that humans do the deviate from rationality or norm and those are called cognitive by and this particular thing is called unit bias. It's of well known cognitive bias and is studied in psychology from a number of different perspectives. It's not just the. I want to own one bitcoin. It's also the if you give me a twenty four ounce cup of soda. I'm going to drink the whole thing. Just because it comes in that size even though i may be only wanted half of it or if you create a heaping plate of french fries or if you give me a giant bag of doritos i'm gonna finish everything. Unit biases be studied a lot in terms of portions for eating. Because it actually one of the things that drives a number of eating disorders because it's a cognitive bias. It's a bug in your ability to think rationally about certain situations and that bug can lead to behavior that is against your own self interest and so this is a normal thing to have unit bias and sometimes says expresses itself in hilarious ways like for example to jonathan's example of people saying well. I can't buy a whole bitcoin. you get the opposite. Which is people who bought into dosage and are looking at it at six cents going. Yeah we can get it to a dollar dollar while allowing me to answer that watson dollar. What you don't understand dear sir is that there are one hundred twenty nine does and they are produced at a rate of what is it. One point four million a day and so to get does to a dollar. It's total market capitalization would have to reach a hundred and thirty five billion dollars or basically where a theorem walls last week. Now i don't know how you measure the utility of does and even if you think cerium is shit. Coin will not that bad

Bitcoin Stephanie Murphy Jonathan Mahan Adam Levine Andreas Toshi Desi Chavez Hathaway Berkshire Jonathan Watson
Apple bounces back after a rough last week, 270 stores reopen

The Afternoon News with Kitty O'Neal

00:33 sec | 8 months ago

Apple bounces back after a rough last week, 270 stores reopen

"Apple bouncing back after a rough week last week. This comes after Berkshire Hathaway Chairman Warren Buffett saying in his annual letter to investors published this weekend that His investment firm owns nearly 5.5% of Apple, mainly because Apple's been repurchasing their own stock, So his percentage has gone up to also apple announcing that all of their 270 U. S. Retail stores are open for business. Some of them are appointment only, but they are all Open for

Apple Berkshire Hathaway Warren Buffett
Buffett is buying back more Berkshire stock this year after record $25 billion repurchase in 2020

Masters in Business

00:13 sec | 8 months ago

Buffett is buying back more Berkshire stock this year after record $25 billion repurchase in 2020

"Berkshire Hathaway said today. It brought back a record $24.7 billion worth of its own stock last year and said there's more to come The conglomerate said it repurchased a total of $9 billion in the fourth quarter.

Berkshire Hathaway
What Will Amazon Do Next in 2021?

The Small Business Radio Show

05:29 min | 8 months ago

What Will Amazon Do Next in 2021?

"The other day announced a new ceo. And so we're is amazon. Going in two thousand twenty one and how can small business owners actually participate hit. Help is jason boys. A season entrepreneur and nationally rise x. nationally recognized expert on amazon. He's considered the world's leading expert in dot com third party sellers. He's the founder and ceo of avenue seven media llc a seller group that harnesses the power of amazon for direct to consumer product brands. He's also the co author of the amazon jungle. The truth about amazon and the sellers guide to thriving on the world's most perilous e commerce marketplace jason. Welcome to the show. Thank you bury. Congratulations to you. Six hundred and twenty six show twelve years you know. He started with just one person. So tell me how you've been doing during this pandemic. Our business has been booming Amazon scott galloway came out and wrote a book about The pandemic amazon a company that was built for something like a worldwide pandemic and they've benefited greatly and frankly so's my business. Because so many small businesses that had regional brick and mortar retail store outlets that. Just shut down on him and folks were were kind of on the fence prior to the pandemic called and said jason get amazon tomorrow. Can you help me so our business has been. I mean we keep up very hits been it's been You know a bittersweet story. It's good news that our businesses doing great as results pandemic. But it's been a really difficult time for everyone. Any recession is always winners. And there's losers. But i tell you one thing jason happen. This year that i never thought could happen in relation to amazon. I couldn't believe they couldn't deliver in two days. Came buried i. I made some predictions in early october. That fda and amazon delivery network was going to break. It ended up not breaking but they broke the post office. They bury them with so met much volume that they literally couldn't couldn't handle it and you're absolutely right. There were very few packages that were delivered to people's doors within two day window within that one day window even still though what they did. This holiday in terms of ramping up delivery final mile warehousing added fifty percent of square footage and like four months. I mean it's historic area. It's pretty incredible what they did so just recently announced. Jeff bezos is going to step down. Ceo and there was a joke on facebook. That says well i guess he's fully invested 401k. Now that's why he's stepping down. But one predictions you have for twenty twenty one with amazon given a new ceo and the hopefully the winding down of the pandemic. Yeah well you know. I hope jeff vases is going to be okay with the pay reduction. Moving from fulltime. Ceo to just executive chairman. You think you'll be okay hope but yeah you look i. I don't think that amazon is going to miss a beat. You know the minute. The announcement came out which by the way was interesting enough announced around the same time as their blow out. Q four earnings call Historic in its own right Potentially to deflect which amazon's pr department is really good at About how great they have benefited in his really tough time for our country But look amazon's not going to miss a beat andy jazzy. Jeff clone bleeds amazon. Blew has been basically attached to jeff bezos hip for more than twenty years. He's an incredibly talented competency. Oh who took. Aws from zero to fifty percent market share in the cloud. Space according to gartner so He's incredibly talented. He will help Execute on jeff bezos division. Basil's we'll take a back seat behind. The curtain is gonna shove jesse in front of congress and answer. All those difficult antitrust questions and basis is going to work on what he loves doing which is invention and future technology. Whatever amazon looks like five ten years from now will have been developed from. Basil's mind so he's not going anywhere. He's just removing himself from some of the shall we say more uncomfortable task. It's going to land on jesse's lap in the next You know one to ten years. As i trust drums or are beating louder and louder. So let's talk about some of the trends that you've been discussing Tell us about how you think. Amazon is getting into healthcare. They are already in healthcare. I mean they're providing primary care for you know scores of their own employees tens of thousands of their employees they They famously removed themselves from joint venture with jamie diamond and berkshire hathaway recently In the rumors from within inside amazon at the reason they did that is because they were holding back and the amazon pharmacy group which spun up recently. we're saying we can't move fast you know. We can't move fast because we're being held up by chasing in berkshire hathaway. So i saw that. A lot of a lot of people in the press came out berry and said oh. This means amazon can't figure out healthcare. It's too difficult. It's too challenging. I didn't see that at all. I just saw that you know amazon. Saw this as cutting weight so that they can really focus on what they do. And that's innovate

Amazon Jason Boys Avenue Seven Media Llc Jason Scott Galloway Jeff Bezos Jeff Vases Andy Jazzy Jeff Clone FDA Basil Jesse Facebook Gartner Jamie Diamond Berkshire Hathaway Congress Amazon Pharmacy Group Berry
Health venture led by Amazon, Berkshire, JPMorgan is ending

Squawk Pod

05:02 min | 10 months ago

Health venture led by Amazon, Berkshire, JPMorgan is ending

"The joint healthcare venture between three of america's most powerful companies amazon j. p. morgan chase and berkshire hathaway is disbanding after three years high profile. Ceo's jeff bezos cheney diamond and warren buffett had teamed up to tackle one of corporate. America's thorniest problems the high and rising cost of employee healthcare and the initial announcement of this partnership was dramatic shares of other healthcare companies tumbled on fears about how these leaders might find a way to make it all less expensive and more efficient in june twenty eighteen. Becky quick spoke to warren buffett and jamie diamond about their shared. Goals are water of ideas out there. A lot of things will be done better. We know the fraud. The administrative 'cause we overuse underuse of of of various drugs and specialized procedures. We know the end of life is often costs. Far more than should and is far more painful should be So there's so many and big data there's so many things to do but the goal is better satisfaction for employees and eventually we can learn a lot of things and maybe help inform america. How we can improve some of these things. Have you heard from aaron place. Yeah i i Addressed a group of about one hundred and thirty or so of the various. Cfo's from all our subs Just a couple of days ago and and they're very interested in the subject and the interesting thing is as we went around interviewing Large number of perspective. ceo's we didn't run into one. That didn't think that improvement was both possible At important nobody disagreed with the the mission. The importance of it or or Feasible only but it's also a very very tough nut to crack havens initial. Ceo was dr a tool galante new yorker staff writer and surgeon. You've heard him on this podcast several times. He's an expert. In how complicated and tangled the american healthcare system is. It's a maze of doctors. Shirts drugmakers guerande. Step down as ceo to become chairman this past spring as the covid nineteen pandemic grabbed the day to day. Attention of the medical community. As haven shudders most of the firms fifty seven employees are expected to be reassigned to amazon berkshire hathaway and j. p. morgan chase. Here's joe kernan. W toward toward healthcare is hard. It's hard to solve health care. I don't care who you are. I don't care if you're talking about. Yeah i don't care if you're warren buffett jeff. I just hope it's not that you know what we lost a couple of million dollars. We'd better shut this down on those three guys. Diamond was that all three of the companies. Were doing some of their own things That they had taken out of the story tapeworm. That's really tough to when you're talking about more than seventeen percent of gdp versus five percent back in one thousand nine hundred sixty san right james warren buffett and jeff bezos saying. Forget it. we can't fix this problem then. Yeah i mean we talked about how many pay three years this is going to be it. This is going to be. Our problems are over right hi talked. I talked about this on the phone yesterday. Try to understand what happened. And i think becky's right i don't think it was that they shut it down entirely because they were losing money or something. I think in many ways it was designed. I don't want to say it was designed to fail but it was it was it was designed number challenging way which was the big lesson of this was actually insurance is local. These health systems are local. And trying to do it on a national basis with with employees in all different types of locality. all kinds of different systems may very. Well be too hard. I think a lot of the lessons were learned. Have been implemented are being implemented at j.p morgan in areas like new york in columbus ohio. For example. i think you're seeing what amazon's doing remarkably actually in seattle. They're their program therefrom -ployees which also include warehouse workers not just not just executive employees. So i think there are some things that will come out of this but obviously not Not the big headlines that that had been expected three years ago when this began. Let's say amazon has rolled out a lot of different initiatives over the last year or two. I was looking at a store yesterday. That kind of laid out some of those things just the idea of amazon health. The they do it for their employees as you mentioned andrew and i think they have thoughts of of selling that other companies too so i i don't think we're going to see the end of any of these companies or any of these actors trying to get healthcare costs. I guess it's just a question of how you do that. And you're right. It is local. You you've got to do this on a local basis but healthcare costs are are not going down. You know they rise faster than inflation. It's a. it's a huge huge issue More than seventeen percent of gdp and we do have to continue to try and find a way to tackle this

Morgan Chase Warren Buffett Jeff Bezos Cheney Diamond Becky Quick Jamie Diamond America Galante New Yorker Amazon Berkshire Hathaway Berkshire Hathaway Joe Kernan Amazon Warren Buffett Jeff James Warren Buffett CEO Aaron Jeff Bezos P Morgan Diamond
Haven will shut down, ending joint healthcare bid by Amazon, Berkshire, JP Morgan

Mornings on Maine Street

00:23 sec | 10 months ago

Haven will shut down, ending joint healthcare bid by Amazon, Berkshire, JP Morgan

"Started by Amazon. JP Morgan Chase in Berkshire Hathaway is dead. Executives Jeff Bezos, Jamie Diamond and Warren Buffett launched it three years ago, hoping to transform health care. And reduce costs for workers that their three companies, The Wall Street Journal, says havens goals were too ambitious. It also lost leadership because of the pandemic. You may be paying more for

Jp Morgan Chase Jamie Diamond Berkshire Hathaway Jeff Bezos Warren Buffett Amazon The Wall Street Journal
Haven, the Amazon-Berkshire-JPMorgan venture to disrupt health care, is disbanding after 3 years

Charlie Parker

00:23 sec | 10 months ago

Haven, the Amazon-Berkshire-JPMorgan venture to disrupt health care, is disbanding after 3 years

"Ventures started by Amazon. JP Morgan Chase in Berkshire Hathaway is dead. Executives Jeff Bezos, Jamie Diamond and Warren Buffett launched it three years ago, hoping to transform health care and reduce costs for workers that their three companies The Wall Street Journal says Havens goals were too ambitious. It also lost leadership because of the pandemic. You may be paying more

Jp Morgan Chase Jamie Diamond Berkshire Hathaway Jeff Bezos Warren Buffett Amazon The Wall Street Journal
Haven will shut down, ending joint healthcare bid by Amazon, Berkshire, JP Morgan

WSJ What's News

00:21 sec | 10 months ago

Haven will shut down, ending joint healthcare bid by Amazon, Berkshire, JP Morgan

"Amazon. Berkshire hathaway and j. p. morgan say they're ending their joint. Healthcare venture haven just a few years after its founding. He even was launched with the goal of reducing healthcare costs for employees of those companies. But it showed few signs of impact. A spokeswoman said the companies will continue to collaborate informally in the future haven will cease operations next month.

Berkshire Hathaway Amazon Morgan
Haven, the Amazon-Berkshire-JPMorgan venture to disrupt health care, is disbanding after 3 years

WBZ Afternoon News

00:24 sec | 10 months ago

Haven, the Amazon-Berkshire-JPMorgan venture to disrupt health care, is disbanding after 3 years

"New England business. The healthcare venture created by three corporate giants to attack storing care costs will will be be shuttering shuttering only only a a couple couple years years after after launching launching A A statement statement from from Haven Haven says says it it will will end end operations operations at at the the end end of of February. February. The The venture venture was was formed formed a a 2018 2018 by by Amazon, Amazon, JP JP Morgan Morgan Chase Chase in Berkshire Hathaway. The independent company was created to focus on improving care delivered to employees of those businesses while doing a better job managing The

Haven Haven The Venture Venture New England Jp Jp Morgan Morgan Chase Chas Amazon Berkshire Hathaway
Healthcare venture led by Amazon, Berkshire, JPMorgan is ending

Bloomberg Businessweek

00:14 sec | 10 months ago

Healthcare venture led by Amazon, Berkshire, JPMorgan is ending

"Healthcare ventures started by Amazon. Berkshire Hathaway in J. P. Morgan is dissolving Haven was formed in 2018 to attack soaring cost but has been largely silent for some time. No reason was given for ending the venture.

Healthcare Ventures J. P. Morgan Berkshire Hathaway Amazon Haven
Buffett on Small Business: Its an economic war

Squawk Pod

05:05 min | 11 months ago

Buffett on Small Business: Its an economic war

"Berkshire hathaway chairman and ceo warren buffett. He joins us on the squawk newsline. Also david salomon. The chairman ceo of goldman sachs goldman by the way is announcing a two hundred and fifty million dollar donation to establish the next generation of the ten thousand small businesses program. Gentlemen thank you both for being here and warm. We'll start with you. You have not spoken publicly since the last annual meeting of back in may for berkshire hathaway. You weren't planning on speaking publicly again until the next one this coming may. Why are you taking time today to talk about this issue right now. Well i think it's it's it's so important that small businesses which of become collateral damage in a in a war. That are our country needed. The defied but We'd in effect bomb charlie At an induced shutdown of parts of the economy hit many types of small businesses. Very very hard and We made some provision for that and march in terms of the cares act but then nobody really knew how long the Now this self inflicted Recession would would last with this particular effect on small businesses so We need another. We need another injection to To complete the complete the job and congress's debating right now and i just hope very much that they extend the p p. A plan on a on a large scale to Let the people who may see the of the light at the end of the tunnel. Get to the end of the tunnel but So it's it's very timely. It's very important and And i do think congress will do something. And i hope they step a very soon because every day is important make people wonder why would bid business. Leaders are are stepping out and speaking on behalf of some of the small businesses. What what is it that concerns you about this. Why is this an issue that you're you're really putting yourself out there with well. Big businesses generally a gun very. Well not the if. They were traveling. Entertainment related days. They still have difficulties but The fed did a terrific job. The they saved us from something that would have been a lot worse than two thousand eight nine When they acted in march so large companies who in the middle of march early march were were going to have no access to capital The market just open wide and the corporate issuance was huge but the small businesses Received some help. But it's not getting to the end of not getting to the end of the tunnel and You know you'd say it's situation. Just take food food manufacturers. The big names Done terrifically people haven't quit eating you and and And the large grocery chains have done very well margins wine salesmen. Good but if you had to get your food And i small restaurant or medium size restaurant and and social distancing was required. Everything you just. You just killed the economics for somebody that may have been working for decades with our family to build a business and reinvested their earnings and improving their their establishment and then Through no fault of their own and edict comes along that That kills all their dreams. And it's it's it would be so foolish to The not follow through on this and enable those people to get back to where they could Do the kind of business they were doing before you know it. it it. It's an economic war and and And certain you know when we wanted to world war two a lot of industries were shut down and and Everything went over to the defense production. Well we've shut down a lot of people in this in this particular Induced recession and and others are prospering. At and i think that the country owes it to the m really millions of small business people. And i've met a lot of these people through the goldman sachs program just renewed ppp. And and Get us to the got us. The end of the tunnel.

Berkshire Hathaway David Salomon Goldman Sachs Goldman Warren Buffett Congress Charlie FED Goldman Sachs
"berkshire hathaway" Discussed on The Dan Le Batard Show with Stugotz

The Dan Le Batard Show with Stugotz

02:14 min | 2 years ago

"berkshire hathaway" Discussed on The Dan Le Batard Show with Stugotz

"Warren buffet is offering employee does something like this every year. He is offering employees of Berkshire Hathaway we've had worn on the show a couple of times. He's fantastic. I'll try to get them next week. He's offering them one million dollars a year for life if they can pick these Sweet Sixteen correctly. And so got me thinking, we should all try to get between now and Wednesday just some quick part time work at I'd lecture Hathaway's on this. Yes. That is. Well, we should all apply. Sweet sixteen. Yeah. Just this week. Six can only be one entry because I can turn out about fifty of those bad boys and get the Sweet Sixteen right? I'm reading straight off of Twitter from Forbes Warren buffet is offering his nearly four hundred thousand employees at Berkshire Hathaway companies a chance to win one million dollars a year for life. The catch you need to pick the correct Sweet Sixteen in the men's NCW basketball tournament Bill. So if I were to do this, I'm employee and I win right? Do I need to stay in -ployed by them. Or like, I just got a million dollars. I can retire. I am not certain. I haven't I'm just reading the headline having clicked on the article. One million life. I I would assume that you have an option to retire there. Right. I would assume that if you get the Sweet Sixteen right? You have the option to retire? I bet he could make your life, and like I can make you disappear. Someone actually did it. This is probably reckless but feel. Warren Buffett saying, I mean, if you wanted somebody disappear Warren Buffett can make someone disappeared we Warren Buffett who still lives in the same house who still eats like peanut butter and jelly sandwiches. Why do you have them eliminating people? I'm just saying. I mean, let's say yes, he can make you disappear too. And I would assume he's rooting for someone like in the sixties to win right sixty or seventy year old Martin for a win Bill. No. But I know, but if someone wins he doesn't want the up and comer twenty two year old just out of college. So when you think right? Can you put it on the poll can Warren Buffett make you disappear and also is Warren Buffett rooting for anyone to win both of those at lebatardshow on Twitter. You guys have I gave you five words here from Izzy family Cleveland Barkley Knicks marked for.

Warren buffet Berkshire Hathaway Forbes Warren Twitter Berkshire Hathaway companies Knicks Cleveland Martin one million dollars million dollars twenty two year seventy year
"berkshire hathaway" Discussed on 760 KFMB Radio

760 KFMB Radio

01:47 min | 2 years ago

"berkshire hathaway" Discussed on 760 KFMB Radio

"Chase is going to help you. Good morning. Yeah. Favorite? Berkshire. Berkshire. You can look at. Berkshire. Be I suppose. This always does to me. I put the wrong thing. And I've I've messed up my faith refresh. Refresh it. Yeah. But it's symbols and stuff. But I tell you. I don't know if you've JJ pulled up, but I gotta pulled up Europe about one thing. I don't like about it is that you've got well-worn buffets all bitten don't hostile phrase it, but who's going to replace him. That's kind of done there. But I don't think it's the same thing going forward. And I and I like style I do like to obviously we follow it. But I don't like buying the Berkshire Hathaway the big reason is I caught the Warren Buffett affect. I mean, what happens when Warren Buffett leaves? There's so many people that have just become kind of chanted by Warren Buffett and said, oh my gosh. I love Berkshire Hathaway Warren Buffett end, it is a great company. But you know, I don't think there's any other company in the market that has more of a CEO effect than berkshire-hathaway. Yeah. That's a big concern, especially given his age. And the other thing is it is pretty much like a conglomerate. So there's all these different businesses. It is kind of a complicated structured understand. Yeah. So I do you have. Yeah. I have the numbers going through those numbers in the current price. Earnings multiples about fourteen point nine five side of the industry to eleven but it looks still pretty good. It's not too expensive their car. Prices sales comes to well industry at about one point to curb is tender book is one point nine versus an entry average at one point six and current price. The castle comes in eleven point five versus an industry average of nine point two, and this is based off of property and casualty insurance actually is the industry that the compared.

Warren Buffett Berkshire Berkshire Hathaway Chase Europe CEO