hatz77

Worse Worsened Worsening

I have been quiet long enough. This is perhaps the most important thread on X ever published. And the most powerful and impactful comic book you will ever read. If you want to understand the reverse carry trade, bookmark this. Oil, Yen, Japan, and an all-star cast. 1/24🧵👇

🚨 THIS COMPANY IS IS MAKING $20 BILLION A YEAR JUST BY HOLDING CASH. Berkshire Hathaway's cash pile just hit a record $397 billion. That’s larger than the entire GDP of countries like Portugal, Finland, and New Zealand. And at current Treasury rates of around 5%, Berkshire is earning roughly $20 billion a year just by doing nothing. The US Treasury's operating cash balance regularly sits below $800 billion. Berkshire is sitting on half of what the US government keeps in its checking account. Also Berkshire Hathaway just reported earnings without Warren Buffett, for the first time in 60 years. Buffett ran Berkshire for 60 years and turned a failing textile company into a $1 trillion conglomerate. Over those 60 years Berkshire's stock gained 6,100,000%. The S&P 500 returned 39,000% over the same period. Greg Abel's first quarterly report showed operating earnings up 18% to $11.35 billion and net income more than doubling to $10.1 billion from $4.6 billion a year ago. The cash pile hit a new record of $397.4 billion, bigger than the GDP of most countries and Berkshire was again a net seller of equities, offloading $24.1 billion in stock against only $16 billion in purchases. Despite all of this, Berkshire's stock is down 11.19% over the last year while the S&P 500 gained 29.5%. The market is not sure yet if anyone can replace 60 years of Warren Buffett. The numbers are strong,The cash is at a record, the profits doubled and the stock is still going down because investors are waiting to see what Greg Abel does with $397 billion that Buffett never spent.