There are two regions of France that can legally call their service "value investing." The Quant region produces a service that uses statistical factors in index funds. The Berkshire region uses the term to describe a bottoms-up analytical style. The services are very different.
For example, the Berkshire region's service, which uses value as an analytical style, currently includes ~251 million Apple shares that have a total value of ~US$92 billion. cnbc.com/berkshire-hath… 
The Berkshire public stock portfolio is currently valued at ~$230 billion. The 251 million Apple shares represent 40% of the value of the Berkshire portfolio.
The 5.8% interest owned by Berkshire in Apple is 21% of the BRK market cap of $440 billion. cnbc.com/berkshire-hath…
The 5.8% interest owned by Berkshire in Apple is 21% of the BRK market cap of $440 billion. cnbc.com/berkshire-hath…
4/ Since the value of AAPL has more than doubled to $78.5B since it was purchased: "it seems to me that it would be prudent for [Mr. Buffett] to be peeling out of some stock." Doug Kass. Feb. 20, 2020
Buffett: "As Mae West said, 'Too much of a good thing can be wonderful'."
Buffett: "As Mae West said, 'Too much of a good thing can be wonderful'."
5/ Charlie Munger: “If you buy a business just because it’s undervalued then you have to worry about selling it when it reaches its intrinsic value. That’s hard. But if you can buy a few great companies then you can sit on your ass … that’s a good thing.”
6/ Berkshire had $137B in cash at the end of March, up from about $127B at the end of 2019. More cash has accumulated since then.
If you add an estimated $145B in cash it probably has now to the $92B in Apple stock, that's $237B or ~54% of the BRK market capitalization.
If you add an estimated $145B in cash it probably has now to the $92B in Apple stock, that's $237B or ~54% of the BRK market capitalization.
7/ Buffett started to research Apple after either Ted or Todd bought ~$1B in Apple in early 2016. He liked the strength of the brand and its capital return strategy. Buffett used exactly none of the factor investing style used in the Quant region of France.google.com/amp/s/www.wsj.…
8/ Quiz: The last Apple quarterly dividend was paid in May 2020 and was $.82 in cash. investor.apple.com/dividend-histo…
Berkshire owned 250,866,566 Apple shares. cnbc.com/berkshire-hath…
What was the total quarterly dividend paid to Berkshire that day?
Berkshire owned 250,866,566 Apple shares. cnbc.com/berkshire-hath…
What was the total quarterly dividend paid to Berkshire that day?
