Core Viewpoint - The article discusses the historical performance of gold versus stocks, particularly in the context of Warren Buffett's long-standing criticism of gold as an investment, highlighting that an investment in the S&P 500 significantly outperformed gold over the decades. Group 1: Buffett's Critique of Gold - Buffett argues that gold has historically underperformed compared to the stock market, using a comparison of investments made in 1942 [4][5] - An investment of $10,000 in the S&P 500 in 1942 would have grown to $51 million by 2018, while the same amount in gold would have only increased to approximately $400,000 [5][6] - Buffett describes gold as a "do-nothing investment," emphasizing that it does not produce any value or returns over time [6] Group 2: Recent Performance of Gold - An analysis of investing $10,000 in gold through the SPDR Gold Shares ETF since Buffett's 2018 critique shows that the investment would have increased roughly 3.5 times, outperforming the S&P 500 ETF, which would have grown to about $25,390 [10] - The article notes that Buffett's skepticism about gold has been challenged by its recent performance, suggesting that he may have been wrong in the short term [11] Group 3: Historical Context and Long-term Perspective - Buffett has consistently criticized gold investments, with similar arguments made in 2011, where a $10,000 investment in gold would be worth approximately $29,000 today, compared to $49,700 for the S&P 500 ETF [12] - The article concludes that while Buffett may have been incorrect in the short term regarding gold, his long-term investment philosophy generally holds true [12]

Core Viewpoint - The bond market is signaling a potential rise in inflation, which may influence the Federal Reserve's decisions, particularly following President Trump's nomination of Kevin Warsh as the next Fed chair [1][3]. Bond Market Insights - Shorter-duration U.S. Treasury bond yields have decreased, while longer-dated yields have increased, resulting in a bear steepening yield curve [2]. Investment Opportunities 1. Berkshire Hathaway - Berkshire Hathaway is well-positioned to handle increased market volatility under Warsh's leadership, with a record cash position of approximately $382 billion, primarily in short-term U.S. Treasuries [5][6]. - The company can continue to earn attractive yields on its Treasury holdings if short-term rates remain steady while long-term rates rise [6]. - Berkshire's insurance businesses could benefit from higher long-term yields, as they invest collected premiums in bonds [9]. 2. Vertex Pharmaceuticals - Vertex Pharmaceuticals is an exception to the negative impact of rising long-term bond yields on growth stocks, as it generates significant cash flow and does not require borrowing for operations [10]. - The company had a cash stockpile of $12 billion as of September 30, 2025, providing financial stability [10]. - Vertex's unique position in the cystic fibrosis market and potential drug approvals could drive stock performance, independent of broader market conditions [12][13]. 3. Walmart - Walmart is recognized as a safe haven during market volatility, benefiting from increased consumer focus on spending due to rising long-term Treasury yields [14]. - The company could see increased foot traffic as consumers seek lower prices amid inflationary pressures, despite potential cost increases [16].

Core Insights - Berkshire Hathaway is transitioning leadership from Warren Buffett to Greg Abel, raising investor concerns about the company's future performance [2][5] - Buffett's long tenure has set high expectations for Abel, who is expected to maintain the company's legacy of excellence [2][6] Leadership Transition - The succession plan has been a topic of interest for shareholders, with Buffett and Charlie Munger previously assuring investors that a plan was in place [5] - In 2021, Berkshire's board unanimously supported Abel as Buffett's designated successor, indicating a structured transition [5] Financial Position - Berkshire Hathaway has positioned itself financially for Abel's leadership, accumulating a record cash reserve of $382 billion by the end of 2025 [7] - This substantial cash reserve provides Abel with significant flexibility for capital allocation, including potential acquisitions or share repurchases [8] Investment Strategy - Analysts suggest that Abel may consider strategies that were previously unthinkable under Buffett, such as initiating dividends for shareholders [8] - Despite not adding Berkshire stock to a specific portfolio, the company remains a top individual stock holding, indicating confidence in its long-term value [10] Market Performance - Berkshire Hathaway's market capitalization stands at $1.1 trillion, with a current stock price of $507.92 and a gross margin of 24.85% [9] - The company often performs well when tech-focused peers struggle, providing stability for long-term investors [11]

Warren Buffett chooses share buybacks -- if one specific criterion is met.At an unguarded moment at a Berkshire Hathaway (BRK.B +0.80%) (BRK.A +0.74%) shareholder meeting in 1967, then CEO Warren Buffett did something he immediately regretted: He agreed to pay a dividend.The $0.10 per share payout might not sound like much, but it meant shelling out $101,733 to shareholders that he felt he could have turned into millions by reinvesting in the company's operations. To remedy the mistake, he offered sharehold ...

COLUMBUS, Ohio, Feb. 6, 2026 /PRNewswire/ -- The NetJets Association of Shared Aircraft Pilots (NJASAP) applauds Congress for advancing essential investments in aviation safety, stabilizing Federal Aviation Administration (FAA) operations and reinforcing the integrity of the National Airspace System (NAS) as part of the Consolidated Appropriations Act, 2026, H.R. 7148. The act includes several provisions of note to the 3,700-plus pilots who fly in the service of NetJets Aviation, Inc., a Berkshire Hathawa ...

Warren Buffett stepped down as CEO of Berkshire Hathaway ( NYSE:BRK-A )( NYSE:BRK-B ) at the end of 2025, ending a legendary career of more than 60 years that turned a failing textile company into a conglomerate worth over $1 trillion and earned him the nickname the "Oracle of Omaha. ...

If you're looking for a stock that's generated life-changing returns over the long run, it's hard to beat Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B). The Motley Fool's data on the stock only goes back to 1985, but even in that roughly 40-year span, Berkshire has generated returns of over 260,000%. Those gains have far outpaced those of the broader stock market, and even now that Warren Buffett is no longer CEO, his presence remains felt in the confidence of Berkshire's shareholders. Yesterday, the fi ...

Investors are still waiting to see how Abel will manage the huge stock portfolio at Berkshire.Warren Buffett left new Chief Executive Officer Greg Abel with a mountain of a portfolio to manage when he stepped down from the position at the end of 2025. Berkshire Hathaway's (BRK.A 0.13%) (BRK.B +0.01%) marketable equity portfolio is valued at about $320 billion as of this writing, and the business has about $354 billion of cash to deploy on top of that. Many of the holdings in the portfolio are positions esta ...

（来源：TradingView） 昨夜今晨，近几天命途多舛的软件板块和加密货币再度迎来新一轮的下挫。疲软的美国就业数据也令过去几天的"板块轮动"戛然而止，抛售范围扩大到整个 市场。 截至收盘，标普500指数跌1.23%，报6798.4点；纳斯达克综合指数跌1.59%，报22540.59点，也是自去年4月以来最严重的三日抛售；道琼斯工业平均指数跌 1.2%，报48908.72点。比特币盘中跌破6.4万美元，近半年缩水近一半；现货白银也出现了单日下跌近20%的状况。 前几个交易日，美股的下跌局限在AI和软件相关的板块，周四抛售范围进一步扩大。标普500成分股中有318只个股下跌，部分原因在于最新劳动力市场数 据疲软。其中美国12月职位空缺意外下降至2020年以来的最低水平。挑战者裁员人数创下自2009年衰退最严重时期以来的1月最高纪录。 安联首席经济顾问Mohamed El-Erian表示："值得注意的是，这些裁员发生在GDP仍以约 4%速度增长的情况下，加速了就业与经济增长的脱钩——如果这一 现象持续下去，将产生深远的经济、政治和社会影响。" 周四收盘后，标普500指数又一次踩在100日均线上。令市场感到焦心的 ...

Berkshire Hathaway (NYSE: BRK.A)(NYSE: BRK.B) has a new CEO in 2026: Greg Abel. After decades of leadership under Warren Buffett, the billionaire investor has given up the reins to Abel. It's a monumental and symbolic move for the business, and it could bring with it some significant changes for investors. Investors may not need to wait too long before the new CEO makes a big move, and it may involve one of Berkshire's largest holdings. Where to invest $1,000 right now? Our analyst team just revealed what ...