00:00 and
00:19 the add up to the one that is not a lot of things that are going on in the state of California. And so the one that I'm going to be talking about is the Berkshire Hathaways earnings. And in fact, the data that I had looks like 74% increase in Berkshire Hathaways earnings from insurance underwriting to 1.25 billion. These earnings swelled because of Geico is of course a part of Berkshire Hathaways group and was able to slash expenses. So Geico helping out.
00:40 This Burke pop it when Burke ever pops on earnings, it's just because you're not finding out new information really or anything. Oh yeah, they had a good quarter, but it's not like a stock. They want a bunch of stocks. And somebody made the point, you know, if you put your money in Burke, you're putting a half in treasuries and half an apple. So it's just at that point where it's, you know, obviously conservative value investing. But I mean, here's a sitting at all time highs, they buy in Burke on this report, like it's going to go to three
01:10 60. I don't think so. I think it's the same story. I think you fade it. I love it. Not long term. I'm not saying short Berkshire Hathaway long term, but we've run a long ways here to value stocks could eventually start getting hit as well. So and when you see Burke up 1.43% and the spy 0.25%, it's just it's a it's a fun. It's an ETF basically is what it is. You know, it's not obviously in trade like what's closed and fun. So I mean, what 1.43% spies up 0.25% some
01:40 arbitrage in here. I'm sure there's some arbitrage players probably shorting it by and spy against it thinking it comes in. Maybe not today, but maybe tomorrow or maybe the next day. I think it closes back into
01:50 I what about that? Remember, we talk Oh boy, he had too much Apple. Yeah, Warren has too much Apple.
01:57 He doesn't. Yeah. And he doesn't. He's been right. Yeah. apples right there near all time highs. I mean, look at the Buffett main stocks. Can you bring up the list of all like, and he's been unbelievable. You know what he's done?
02:08 I mean, you have to bring it up. I mean, bring up the main bring up his like top 10 holdings. And I can do that. I can almost do it at the top of my head.
02:15 It's Apple number one. Apple had a really bad day on Friday. But here's the forgiveness. I mean, on Burke on Friday. It's sold off a little bit on it. You know, yeah, it did sell off but not nearly as bad as Apple. I mean, it's 40% of the bloody portfolio, you'd think it would like sell off a lot more than that. Now, again, this is a stock says he has some private companies too. So it's a little bit you know, like it doesn't
02:38 it's not all Burke is 46% of his stock portfolio, because he has some private assets as well. I don't believe that that's accounted for in this. So if you really figured that out, it's not quite you know, up that high, but it's a huge like compared to the second holding Bank of America at nine. He is heavily weighted Apple, Apple.
02:56 Why own anything else other than Apple? If you want to trade with Buffett, just trade Apple, buy Apple, invest in Apple, and maybe buy the tip Apple had a real maybe we should make this conversation. We should talk Apple in a minute here because Apple had a really bad day. It opened people buying the dip on Apple guaranteed down four bucks and buying the dip on Apple and closes down nine. You know that people get punished for that. It's bouncing here this morning, probably you know, Buffett help, but the markets up a little bit here to go back to the top holdings. Oh, let's just look at
03:25 them just curiously, because you have Berkshire basically at an all time high. Apple's not an all time high, but it's not far off. Bank of America is not even close to all time highs like Bank of America has been a pretty much disaster. But he bought a box of his bathtub. 31 American Express is not far from all time highs. 199 165 but not really that close. Coca Cola. And you know, I don't like staples Chevron's way off. It's all time high.
03:52 The average buy price that will also help here understand where he got it. It's not exact, right? It's an average, but yeah, but again, that's irrelevant because of investors who are buying it today are buying it these prices. They're not buying it at those prices. So I mean, he's a fantastic investor. But if you're arguing like, he's I wonder where the Burke is trading, we should find out because there's ways to find that out where the NAV is on Berkshire Hathaway because the hell of a lot lower and AV is a net asset value. Yeah.
04:20 You want to go to the whole thing and it is a hell of a lot lower than where the stock is trading. You get the Buffett premium in there, but you can see a lot of his stocks are not at all time highs yet. Berkshire Hathaway is at an all time high and that's just, you know, a lot of love for Warren as well.
