Speaker 1: An illegal alien from Guatemala charged with raping a child
Speaker 1: in Massachusetts. An MS thirteen gang member from Al Salvador
Speaker 1: accused of murdering a Texas man of Venezuelan charged with
Speaker 1: filming and selling child pornography in Michigan. These are just
Speaker 1: some of the heinous migrant criminals caught because of President
Speaker 1: Donald J. Trump's leadership. I'm Christy nom the United States
Speaker 1: Secretary of Homeland Security. Under President Trump, attempted illegal border
Speaker 1: crossings are at the lowest levels ever recorded, and over
Speaker 1: one hundred thousand illegal aliens have been arrested. If you
Speaker 1: are here illegally, your next you will be fined nearly
Speaker 1: one thousand dollars a day, imprisoned, and deported. You will
Speaker 1: never return. But if you register using our CBP home
Speaker 1: app and leave now, you could be allowed to return legally.
Speaker 1: Do what's right. Leave now. Under President Trump, America's laws,
Speaker 1: border and families will be protected.
Speaker 2: Sponsored by the United States Department of Homeland Security.
Speaker 3: What are five biggest lessons to learn from Berkshire Halfway's
Speaker 3: meeting this weekend?
Speaker 4: For me after I checked it out. Number One, investment
Speaker 4: is really easy. It's interesting to see that no matter
Speaker 4: how much the world has changed, their philosophy has not.
Speaker 4: So it brought me back to the point of like
Speaker 4: sticking with the plan for a ten fifty year period,
Speaker 4: even at some point someone asks them, like, what's their
Speaker 4: one hundred year vision for Berkshire from today? Number Two,
Speaker 4: cash is not tried to have one hundred and twenty
Speaker 4: billion dollars in treasury bills in cash. So for everyone like,
Speaker 4: your debt is good, I'm like, now the interest races
Speaker 4: went up, not the best thing. It's better to have
Speaker 4: a bunch of cash on hand in case if they
Speaker 4: need to deploy, Like, this is amazing that if they
Speaker 4: wanted to, they can buy seventy percent of Tesla or
Speaker 4: consider proportion into AMD or any of these companies. Just
Speaker 4: having this cash shitting around. Number three, the position in
Speaker 4: Apple cannot be understated.
Speaker 5: I'll say it again.
Speaker 4: Apple is probably the greatest publicly traded company of all time.
Speaker 4: They get one hundred million dollars a quarter and dividends.
Speaker 4: And the funny part he was like, I don't even
Speaker 4: know how the smartphone works, but I do know the
Speaker 4: consumer when Apple knows how to sell phones incredibly well.
Speaker 4: So it brings me back to my point of investing
Speaker 4: in this top company in the world, the Buffets said
Speaker 4: to me, and this is the greatest company we own
Speaker 4: today by far. If he would have listened to Charlie
Speaker 4: a few years prior, they probably would have had another
Speaker 4: seven or eight billion dollars in dividends that they would
Speaker 4: have collected, which is amazing. Number four, I thought it
Speaker 4: was really interesting that he said that there's no other
Speaker 4: option for reserve currency other than the American dollar. If
Speaker 4: all of you is like yours, Ben Fearmonger, you don't
Speaker 4: have to listen to me. You can listen to Uncle Warre.
Speaker 4: Then he's provided you some safety, right, Could I add
Speaker 4: to it?
Speaker 5: Absolutely? I mean this is this is true.
Speaker 6: He said that he doesn't expect you dollar to be
Speaker 6: dethroned as a world's reserve currency anytime soon. Yeah, so
Speaker 6: there's a couple of things you can look at that, right. Yes,
Speaker 6: there's confidence in it at the time being. But the
Speaker 6: fact that he said any time soon means that at
Speaker 6: some point it could be. It could be maybe not
Speaker 6: in his lifetime over fifteen years and yeah maybe yeah.
Speaker 6: And the last one was just stall some paramount.
Speaker 4: He said, it's never good when a company cuts his
Speaker 4: divid in We'll talk about that a little bit more later,
Speaker 4: but yeah, anytime a company cuts their dividend, it's usually
Speaker 4: a sign of weakness and the time to actually get
Speaker 4: out of the stock. And for a lot of the
Speaker 4: streaming players, they don't have that much of a competitive
Speaker 4: advantage anymore. It's not a place to deploy capital. And then,
Speaker 4: of course the regional banks, we'll talk about that later
Speaker 4: than in trouble. So banking has no significant advantage anymore,
Speaker 4: and he does the streaming players. So those are my
Speaker 4: five big takeaways from there.
Speaker 6: He said that a couple of weeks ago about streaming,
Speaker 6: they just didn't like it as a business.
Speaker 4: Yeah, bad Mark, I'm it's not profitable. Here's a simple analysis. Fundamentally,
Speaker 4: if the margins are saying less than twenty percent, don't
Speaker 4: invest like you need Here's you need high growth marketins
Speaker 4: to be able to grow your business, deploy capital into
Speaker 4: that growth. And also they give money back to shareholders,
Speaker 4: Like that's one of the first things you can look
Speaker 4: at fundamentally, Like if they make one hundred dollars per sale,
Speaker 4: how much that are they keeping. Some companies are only
Speaker 4: keeping two and three bucks now, the interest rates have
Speaker 4: been adjusted in the region of banks, some of them
Speaker 4: only keeping one penny and trying to play the basis
Speaker 4: point game.
Speaker 5: It's now good.
Speaker 6: I think one of the things was confirmation, Like listen
Speaker 6: to the takeaways the confirmation, And we spoke about this
Speaker 6: in market Mondays in La Grow shout to Dave Growth.
Speaker 5: Yes we saw last night.
Speaker 6: But we talked about the pressure that commercial real estate
Speaker 6: is going to be and then he doubled down and
Speaker 6: confirmed that and was talking about, you know, higher rates
Speaker 6: are going to put pressure on the commercial space. It
Speaker 6: was like we said this two months ago, right, so
Speaker 6: it's again, It's not like you don't have to listen.
Speaker 5: You have to listen to us. Listen to the greatest
Speaker 5: vest of our time.
Speaker 6: He's telling you, like, yeah, commercial clock is ticking their
Speaker 6: times up. But he also talked about the banks, right,
Speaker 6: and I know people have felt pressure.
Speaker 5: They seen the regional banks, you know, have some turmoil.
Speaker 6: But the number one thing I was like, all right,
Speaker 6: that's cool, but don't worry about it. Positive safe. Yeah,
Speaker 6: so I know that puts calm over a lot of people, right,
Speaker 6: But yeah, if you're invested in the bank, regional banks
Speaker 6: not a great idea. Maybe not a great time, but
Speaker 6: if you're an average person who's just putting their money
Speaker 6: in the bank, yeah you're fine, are going to be saved.
Speaker 6: And then he talked about earnings year over year, and
Speaker 6: you know, that's something we talked about. We watched the
Speaker 6: earnings reports, we watch how they they're going to perform
Speaker 6: compared to the prior. We said, he's expecting to have
Speaker 6: a lower year over year earnings. So we'll have to
Speaker 6: see what that type of impact has on the stop
Speaker 6: of some us over the next twelve months, right, because if.
Speaker 5: They're not bringing that much money, then we probably expect
Speaker 5: to see some of them pull back a little bit.
Speaker 6: Obviously, we'll talk about inflation and the impact that that's
Speaker 6: had and the federate. So it's interesting, like hearing those
Speaker 6: things was like, all right, yeah, we've been things and
Speaker 6: it's again it's confirming the things that we've been saying already, and.
Speaker 4: We can see it in the earnings now they've been
Speaker 4: adjusting guidance slower. Even when I was with Mike and Josh,
Speaker 4: she got to check out the episode with me and
Speaker 4: Josh episode of the compl.
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Speaker 1: An illegal alien from Guatemala charged with raping a child
Speaker 1: in Massachusetts. An MS thirteen gang member from Al Salvador
Speaker 1: accused of murdering a Texas man of Venezuelan charged with
Speaker 1: filming and selling child pornography in Michigan. These are just
Speaker 1: some of the heinous migrant criminals caught because of President
Speaker 1: Donald J. Trump's leadership. I'm Christy Noman, the United States
Speaker 1: Secretary of Homeland Security. Under President Trump. Attempted illegal border
Speaker 1: crossings are at the lowest levels ever recorded, and over
Speaker 1: one hundred thousand illegal aliens have been arrested if you
Speaker 1: are here illegally, your next you will be fined nearly
Speaker 1: one thousand dollars a day, imprisoned, and deported. You will
Speaker 1: never return. But if you register using our CBP home
Speaker 1: app and leave now, you could be allowed to return legally.
Speaker 1: Do what's right, leave now. Under President Trump, America's laws,
Speaker 1: border and families will be protected.
Speaker 2: Sponsored by the United States Department of Homeland Security.
Speaker 4: Yeah, he has been going things to say about you too,
Speaker 4: by the way, being a visionary. So you guys be
Speaker 4: talking so but when I was talking to Josh, I'm like, hey,
Speaker 4: our vacancy rates for the commercial space at like fifteen percent.
Speaker 4: He was like, no, they're almost at twenty. So, like
Speaker 4: a normal rate is like five to ten. Fifteen is
Speaker 4: like a danger sign. I'm like, if we're twenty percent vacancy,
Speaker 4: that is not a good sign.
Speaker 5: We are going to.
Speaker 4: See a correction in that commercial space probably in the
Speaker 4: next two years. And I think that if they didn't
Speaker 4: prop up these regional banks, the bigger banks will have
Speaker 4: to start to pay for those vacancies. It's getting tricky
Speaker 4: out here. Only investing the best companies in the space,
Speaker 4: then you'll be good.
Speaker 6: Yeah, they astraally longer about his response. Old fashioned intelligence
Speaker 6: works pretty well.
Speaker 4: Absolutely, It's just like, why what if a business is
Speaker 4: not profitable or the margins are tooth in. I am
Speaker 4: begging you to stay away. And I know we want
Speaker 4: to gamble and we want to look. I know pepper
Speaker 4: corn is taken off to the moon. It's going to
Speaker 4: come back down to whatever normal deviation is normally at.
Speaker 5: But we have to stop being involved in this hype cycle. Now.
Speaker 4: If you catch it on the upside, I'm not mad
Speaker 4: at it. But once it's in the news is usually
Speaker 4: too late. And that's the thing that I want to
Speaker 4: stress here. Week to week or day to day news
Speaker 4: doesn't matter. It's the principles and investing that matter more
Speaker 4: than anything.
Speaker 3: So and you have it in Berkshire, half aways A
Speaker 3: shares four hundred and ninety seven thousand dollars per year,
Speaker 3: so almost a half a million dollars for one share,
Speaker 3: and B share is three hundred and twenty seven dollars
Speaker 3: per share for it. So the A share can we
Speaker 3: tell you talk about that? Give them some explanation the
Speaker 3: difference between A shar and B Sure.
Speaker 4: Yeah, the class A shares are like the big shares
Speaker 4: like the main.
Speaker 5: Power player shares that you want.
Speaker 4: Of course, if you invest the way back in the day,
Speaker 4: the return and that has been amazing.
Speaker 5: But the reason why he didn't split, so of.
Speaker 4: Course as the price of those shares go up, they
Speaker 4: all earned more. So they made it a B share
Speaker 4: so people like us could be able to get in
Speaker 4: and invest in it because people missed the opportunities. So
Speaker 4: like when Apple was split or Tesla splits, they do
Speaker 4: so so more cash can come in. But because they're
Speaker 4: buying some quality businesses like Gary Queen Ce's Candies, a
Speaker 4: bunch of like home furnishing companies, they didn't want to
Speaker 4: dilute those shares so they can remain rich, but they
Speaker 4: didn't want to provide access to the everyday person to
Speaker 4: be involved in Berkshire and have the safety. So it
Speaker 4: was interesting to see even how they allow people to
Speaker 4: get into the fund later but also kept majority of
Speaker 4: the riches for themselves as well. So I think it's
Speaker 4: the best way to kind of like play the asset
Speaker 4: allocation in ETF.
Speaker 5: Yeah game as.
Speaker 6: Well, And I'm glad you brought that up about acquiring
Speaker 6: companies because one of the things that they spoke about
Speaker 6: at the meeting was their involvement and as a petroleum right,
Speaker 6: we keep seeing them invested in every every quarter and
Speaker 6: it's like, all right, at this point, you're investing in
Speaker 6: this pretty heavily. Are you just going to take over
Speaker 6: the company? And it's His response was really interesting. It
Speaker 6: was like, yeah, we would, but we don't know what
Speaker 6: to do with it. I'm like, if you're invested in
Speaker 6: every quarter, you don't know what to.
Speaker 5: Do with it. So these are the things.
Speaker 6: I mean, you watch for these things, right, So that's
Speaker 6: a company obviously if you're looking if he's looking at
Speaker 6: it and he's putting heavy money behind it, the same
Speaker 6: way when we looked at TSM when they put money in,
Speaker 6: it was like the stop price went up and then
Speaker 6: they sold it and then stock price came down. The
Speaker 6: reason they're moving their money is because they see something
Speaker 6: five ten.
Speaker 5: Years down the line. We're not.
Speaker 6: Yeah, And that's the advantage you have of being in
Speaker 6: those spaces.
Speaker 3: So when Berkshire Halfway stock first came out in nineteen
Speaker 3: eighty four.
Speaker 5: I believe yeah, things later for you.
Speaker 3: It debuted at fourteen hundred dollars. It's currently at around
Speaker 3: five hundred thousand dollars right now. So that is a
Speaker 3: thirty five thousand percent rate of return. That's a thirty
Speaker 3: five thousand put the dollars in your favor. That's a
Speaker 3: thirty five thousand percent rate of return since in thirty
Speaker 3: nine years. And the b chare actually debuted in nineteen
Speaker 3: ninety seven.
Speaker 5: I believeue.
Speaker 3: Nineteen ninety six at twenty dollars and now it is
Speaker 3: three hundred and twenty seven dollars. So that is let
Speaker 3: me see how much that is.
Speaker 4: And that's why we will go back to the rap
Speaker 4: debate versus sports debate thing while they had a debate
Speaker 4: and who was better Mace or Jay or biggin Tipoc'm like,
Speaker 4: no one will screaming with us. You should get b
Speaker 4: shares of birch Shire.
Speaker 3: Yep, that's a fifteen hundred percent rate of return. My
Speaker 3: graduate from my school being force back drop dropdroproft.
Speaker 1: An illegal alien from Guatemala charged with raping a child
Speaker 1: in Massachusetts. An MS thirteen gang member from Al Salvador
Speaker 1: accused of murdering a Texas man of Venezuelan charged with
Speaker 1: filming and selling child pornography in Michigan. These are just
Speaker 1: some of the heinous migrant criminals caught because of President
Speaker 1: Donald J. Trump's leadership. I'm Christy Noman, the United States
Speaker 1: Secretary of Homeland Security. Under President Trump, attempted illegal border
Speaker 1: crossings are at the lowest levels ever recorded, and over
Speaker 1: one hundred thousand illegal aliens have been arrested. If you
Speaker 1: are here illegally, your next you will be fine nearly
Speaker 1: one thousand dollars a day, imprisoned, and deported, you will
Speaker 1: never return. But if you register using our CBP home
Speaker 1: app and leave now, you could be allowed to return legally.
Speaker 1: Do what's right. Leave now. Under President Trump, America's laws,
Speaker 1: border and families will be protected.
Speaker 2: Sponsored by the United States Department of Homeland Security.