Hello, just checking in on the new Berkshire board.
So in the UK, we have a political crisis causing a run on the pound and forced selling by pension schemes who appear to have been using leverage.
Putin causing all kinds of problems.
And of course there is the inflation problem and rising interest rates. And the bear market…
Personally, I have been quite lucky of late. Living in the UK and being in Berkshire has worked well. With the falling pound offsetting the decline in the share price of Berkshire. But of course, the currency gains are 100% luck and can reverse just as quickly.
Nothing much appears to have changed with how Berkshire Hathaway is run, unsurprisingly in a good way. It’s good to see some of the cash being deployed. And although the share price is lower, value is been created that we know will show up in the long-term and that’s what counts. Good to see Greg Able buy shares in Berkshire with his own money and no surprise there. High class and smart.
No doubt Buffett continues to allocate capital as everything gets cheaper.
Although there may be very difficult times ahead which have terrible consequences for people who might be Berkshire customers, Berkshire’s Balance Sheet, financial strength and culture of conservatism will no doubt help us swim against the tide as Charlie might say.
Berkshire keeps making progress slow and steady and occasionally in sprints. Cool heads that just stick to their knitting. Nothing fancy. Trying to avoid bad things and keep swimming.