jimbob007
08.06.2021 15:48:04
Buffett ranks No. 3 in the world on the rich list with an estimated net worth of $63.5 billion. He’s always maintained a low-key lifestyle, living in a modest home in Omaha and driving a practical car. [links]
See full version: WARREN BUFFETT: There comes a point where money has no real utility
Buffett ranks No. 3 in the world on the rich list with an estimated net worth of $63.5 billion. He’s always maintained a low-key lifestyle, living in a modest home in Omaha and driving a practical car. [links]
He noted that when the Forbes’ “rich list” of 400 wealthiest people debuted in 1982 the total wealth was around $92 billion. Now it’s $2.4 trillion. here
To date, 150 people have signed the pledge.
Buffett argued that excessive wealth doesn’t do much for the rich and their families.
“There’s a greater concentration of wealth than there was 30 or 20 years ago,” he noted. “What can you do with it? It seems so obvious to me you can take wonderful care of yourself. Are 10 houses better than one? Do you really want a boat?”
“There comes a point where money really has no real utility,” he said. “You can use it to show off, but you can’t do much else with it. I don’t think it’s good for your family. It can do wonders for people around the world.” here
In fact, it's about two-thirds of a football field shorter than Sheikh Khalifa's Azzam, but, at a reported cost of $644 million, it's easily in the top five in terms of price.
However, with hydrogen fuel cells producing all of the necessary onboard electricity, this boat's only byproduct will be pure H20. more
The reason is characteristically Bill Gates through and through: technology.
Video: Click the image to watch our video about the top 5 most popular hedge fund stocks.
[table] Ticker, No of HFs with positions, Total Value of HF Positions (x1000), Change in HF Position PG,79,10725870,5 MA,125,14560784,0 XOM,63,2028251,8 T,50,1406918,-1 Average,79.25,7180456,3 [/table] [links]
Among these funds, Bill & Melinda Gates Foundation Trust held the most valuable stake in Berkshire Hathaway Inc. (NYSE:BRK.B), which was worth $11305.2 million at the end of the third quarter. On the second spot was Eagle Capital Management which amassed $2317.9 million worth of shares. Gardner Russo & Gardner, Pershing Square, and Diamond Hill Capital were also very fond of the stock, becoming one of the largest hedge fund holders of the company. In terms of the portfolio weights assigned to each position Bill & Melinda Gates Foundation Trust allocated the biggest weight to Berkshire Hathaway Inc. (NYSE:BRK.B), around 52.94% of its 13F portfolio. Punch Card Capital is also relatively very bullish on the stock, earmarking 52.7 percent of its 13F equity portfolio to BRK-B. here
As you can see these stocks had an average of 79.25 hedge funds with bullish positions and the average amount invested in these stocks was $7180 million. That figure was $23616 million in BRK-B's case. Mastercard Incorporated (NYSE:MA) is the most popular stock in this table. On the other hand AT&T Inc. (NYSE:T) is the least popular one with only 50 bullish hedge fund positions. Berkshire Hathaway Inc. (NYSE:BRK.B) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal but we'd rather spend our time researching stocks that hedge funds are piling on. Our calculations showed that top 10 most popular stocks among hedge funds returned 41.4% in 2019 and outperformed the S&P 500 ETF (SPY) by 10.1 percentage points. These stocks lost 1.0% in 2020 through April 20th but beat the market by 11 percentage points.
View table here if you experience formatting issues.
At Q4's end, a total of 113 of the hedge funds tracked by Insider Monkey held long positions in this stock, a change of 2% from the previous quarter. The graph below displays the number of hedge funds with bullish position in BRK-B over the last 18 quarters. So, let's review which hedge funds were among the top holders of the stock and which hedge funds were making big moves. [links]
According to Aggregated Portfolio statistics, a Premium feature of GuruFocus, Berkshire and Gates' foundation trust have a combined weight of 44.21% in Apple (NASDAQ:AAPL) as of the December 2020 quarter.
Other gurus with holdings in Apple include Ken Fisher (Trades, Portfolio), Pioneer Investments (Trades, Portfolio) and Spiros Segalas (Trades, Portfolio). more
Berkshire and Gates have a combined weight of 0.02% in Liberty Latin America (NASDAQ:LILA). [links]
Likewise, Buffett's insurance conglomerate seeks investments in companies that meet a four-criterion approach to identify "good companies at fair prices": understandable business, favorable growth prospects, shareholder-friendly management and low purchase prices.