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Berkshire Hathaway

also referred to as: berkshire

includes Berkshire Hathaway Energy, Berkshire Shareholder Letters

28 statements across 10 episodes · 18 bullish · 2 bearish · 6 people on the record · first statement May 16, 2022 by Jim Weber · said 187 times in 45 episodes since 2021 · across every show →

Mentions by year, the whole family

brought up most by David Rosenthal (84), Ben Gilbert (81), David Senra (7), Charlie Munger (6), Michael Lewis (4), Andrew Marks (3), Jason Calacanis (1)

tap a year for its mentions
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01020202120222023202420252026episodes it came up in
005101020202120222023202420252026episodesmentions per episode
2026 17 mentions in 2 episodes 9 per episode
2025 28 mentions in 6 episodes 5 per episode
2024 27 mentions in 6 episodes 5 per episode
2023 46 mentions in 7 episodes 7 per episode
2022 63 mentions in 19 episodes 3 per episode
2021 6 mentions in 5 episodes 1 per episode

every mention, scene by scene, with the transcript →

Everything said about Berkshire Hathaway, oldest first

May 16, 2022 neutral
Assertion Supported
Jim Weber: Fruit of the Loom bought Russell for ~$1 billion
“Fruit was, you know, sort of consolidating all their stuff, and they had bought Russell for about a billion dollars with internal capital, and they were about to go and restructure that.”
Jim Weber May 16, 2022 ▶ 40:47 Arena Show Part II: Brooks Running (with CEO Jim Weber) · Acquired
May 16, 2022 positive
Assertion Not checkable as stated
Weber: Brooks Averaged Over 50% Return on Tangible Net Assets
“Our return on tangible net assets has been over Over 50% for the last 15 years.”
Jim Weber May 16, 2022 ▶ 16:58 Arena Show Part II: Brooks Running (with CEO Jim Weber) · Acquired
May 16, 2022 positive
Assertion Supported
Gilbert: Warren Buffett Made Brooks a Direct Berkshire Hathaway Report
“So, along the way, Brooks was acquired by Berkshire Hathaway, and Warren Buffett personally elevated Brooks and Jim to make the company a direct report to him.”
Ben Gilbert May 16, 2022 ▶ 6:28 Arena Show Part II: Brooks Running (with CEO Jim Weber) · Acquired
Nov 29, 2022 positive
Assertion Supported
Gilbert: John Ray restructured Fruit of the Loom before Berkshire sale
“After bankruptcy, after John Ray restructured, and it came out of Chapter 11, it was sold to Berkshire Hathaway. Fruit of the loom.”
Ben Gilbert Nov 29, 2022 ▶ 2:34:03 Enron · Acquired
Mar 29, 2023 positive
Opinion
Senra: Berkshire Shareholder Letters Are the Greatest Content Marketing Ever
“Berkshire shareholder letters... It is the greatest act of salesmanship because you never even see the sale happening.”
David Senra Mar 29, 2023 ▶ 1:39:48 Sessions: David Senra (Founders Podcast) · Acquired
Mar 29, 2023 positive
Opinion
Rosenthal: Berkshire's reputation improved over 50 years while PE and hedge funds declined
“What is the aggregate opinion, public opinion of hedge funds and managers and private equity firms over the last 50 years? Nothing but down. What is the aggregate opinion of Berkshire? Nothing but up.”
David Rosenthal Mar 29, 2023 ▶ 1:59:12 Sessions: David Senra (Founders Podcast) · Acquired
Oct 30, 2023 neutral
What-if
Munger says Berkshire Hathaway would be 3x larger with slightly more leverage
“If we used a little bit more leverage throughout, we'd have three times as much now. And it wouldn't have been that much more risk either.”
Charlie Munger Oct 30, 2023 ▶ 17:02 Charlie Munger (Audio) · Acquired
Oct 30, 2023 positive
Insight
Investors need significant participation in a few top market leaders
“What everybody has learned is that everybody needs some significant participation in the 12 companies that do better than everybody else. And you need two or three of them at least.”
Charlie Munger Oct 30, 2023 ▶ 41:13 Charlie Munger (Audio) · Acquired
Oct 30, 2023 neutral
Disclosure
Munger says Berkshire never paid a finder's fee since acquiring See's
“We paid that guy a finder's fee even. We've never paid one since.”
Charlie Munger Oct 30, 2023 ▶ 35:51 Charlie Munger (Audio) · Acquired
Oct 30, 2023 bullish
Assertion Partly supported
Berkshire raised See's Candies prices 10% annually for roughly 40 years
“We found out fairly quickly that we could raise the price every year by 10% and nobody cared. We didn't make the volumes go up or anything like that, just made the profits go up. So we've been raising the price by 10% a year for all these 40 years or so, and i…”
Charlie Munger Oct 30, 2023 ▶ 34:02 Charlie Munger (Audio) · Acquired
Oct 30, 2023 bullish
Assertion Supported
Berkshire Hathaway bought Apple when its valuation fell to 10x earnings
“Yeah, well, it got cheap. It got it did about 10 times or anything more.”
Charlie Munger Oct 30, 2023 ▶ 42:12 Charlie Munger (Audio) · Acquired
Oct 30, 2023 positive
Assertion Supported
Munger and Buffett turned a $20M savings and loan into $2B
“We bought a little pissant savings loan company for maybe twenty million dollars. And when we left that thing, we had taken out of our little twenty million dollar investment Over two billion dollars in marketable securities, which went into Nebraska insurance…”
Charlie Munger Oct 30, 2023 ▶ 11:42 Charlie Munger (Audio) · Acquired
Oct 30, 2023 positive
Disclosure
Munger says Berkshire Hathaway never sells a halfway decent business
“If it's a problem business we've never been able to fix, we'll sell it. But if it's a halfway decent business, we never sell anything.”
Charlie Munger Oct 30, 2023 ▶ 23:29 Charlie Munger (Audio) · Acquired
Oct 30, 2023 positive
Assertion Supported
Berkshire borrowed Japanese yen at 0.5% to buy 5%-yielding trading houses
“The interest rates in Japan were half a percent per year for 10 years. And these trading companies were really entrenched old companies, and they had all these cheap copper mines and rubber plantations, and so you could borrow for 10 years ahead all the money,…”
Charlie Munger Oct 30, 2023 ▶ 30:58 Charlie Munger (Audio) · Acquired
Oct 30, 2023 neutral
What-if
Berkshire Hathaway would have survived if Salomon Brothers went to zero
“If it all blown up and went to zero, we would have written it off and gone on and done pretty well.”
Charlie Munger Oct 30, 2023 ▶ 58:55 Charlie Munger (Audio) · Acquired
Oct 30, 2023 positive
Opinion
Opportunities like Japan trading house arbitrage happen twice a century
“If you're as smart as Warren Buffett, maybe two, three times a century, you get an idea like that.”
Charlie Munger Oct 30, 2023 ▶ 30:50 Charlie Munger (Audio) · Acquired
Oct 30, 2023 neutral
Disclosure
Berkshire Hathaway invested $30 billion into Apple, not hundreds of billions
“We didn't put hundreds of billions, but we put a thirty billion into it.”
Charlie Munger Oct 30, 2023 ▶ 41:58 Charlie Munger (Audio) · Acquired
Oct 30, 2023 negative
What-if
Munger admits he and Warren Buffett could not rebuild Berkshire today
“The answer to that is no, we wouldn't.”
Charlie Munger Oct 30, 2023 ▶ 39:24 Charlie Munger (Audio) · Acquired
Mar 18, 2024 bullish
Assertion Supported
Medallion generated higher 30-year returns than Berkshire Hathaway or George Soros
“Their thirty-year track record managing billions of dollars has better returns than anyone you have ever heard of, including Berkshire Hathaway, Bridgewater, George Soros, Peter Lynch, or anyone else.”
Ben Gilbert Mar 18, 2024 ▶ 1:43 Renaissance Technologies (Audio) · Acquired
Dec 16, 2024 neutral
What-if
Mars could not have bought Wrigley without Berkshire Hathaway providing confidence
“I suspect there's no way the deal gets done if Berkshire doesn't get involved.”
David Rosenthal Dec 16, 2024 ▶ 3:03:15 Mars Inc. - The Chocolate Story (Audio) · Acquired
Dec 16, 2024 neutral
Assertion Supported
Mars bought out Berkshire's Wrigley equity stake for $4.6 billion in 2016
“In 2016, Mars buys out Berkshire, so Buffett sells Mars his entire stake back for 4.6 billion dollars versus the 2.1 that he originally invested.”
David Rosenthal Dec 16, 2024 ▶ 3:01:27 Mars Inc. - The Chocolate Story (Audio) · Acquired
Dec 16, 2024 positive
Assertion Supported
Berkshire Hathaway earned $2.5 billion in interest on its Mars-Wrigley debt
“So the 4.4 billion in debt that Berkshire invested Had an 11.45% interest rate. So during the five years that it was outstanding, Berkshire earned two and a half billion dollars just in interest.”
David Rosenthal Dec 16, 2024 ▶ 3:00:40 Mars Inc. - The Chocolate Story (Audio) · Acquired
Dec 16, 2024 neutral
Assertion Supported
Mars financed its $23B Wrigley buyout using cash, Goldman, and Berkshire capital
“Mars pays eleven billion dollars itself, they get 5.7 billion dollars in bank debt from Goldman Sachs, and then Berkshire comes in with the rest of the financing, about six and a half billion dollars total.”
David Rosenthal Dec 16, 2024 ▶ 2:59:41 Mars Inc. - The Chocolate Story (Audio) · Acquired
Jun 30, 2025 positive
Assertion Supported
Alphabet generates more net income than any other U.S. company
“Google, and I should say Alphabet today, generates more net income or profit than any other U.S. Company. More than Apple, Microsoft, Exxon Mobil, JPMorgan Chase, Berkshire Hathaway.”
Ben Gilbert Jun 30, 2025 ▶ 2:01 Google Part I: Origins of Search. How the Best Business in Human History Happened (Audio) · Acquired
Nov 24, 2025 bearish
Assertion Supported
Warren Buffett's legendary Coca-Cola investment has actually underperformed the S&P 500
“He would have been better off buying the S&P Over that same time period. Including dividends over that same time period. The S and P 500 is up about 11% annually. So the famous Berkshire Hathaway Coca-Cola investment today is actually underperforming the marke…”
David Rosenthal Nov 24, 2025 ▶ 3:00:58 Coca-Cola: The Complete History & Strategy (Audio) · Acquired
Dec 15, 2025 bullish
Disclosure
Michael Lewis: I bought Berkshire Hathaway Class A shares in 2008
“I bought it right in the middle of the financial crisis.”
Michael Lewis Dec 15, 2025 ▶ 19:05 10 Years of Acquired (with Michael Lewis) · Acquired
May 18, 2026 bullish
Assertion Partly supported
Berkshire Hathaway delivered a 39,000x return since 1965 versus S&P's 405x
“From 1965 to 20 25, if you had invested in the S&P 500, you would have kind of unbelievably a 10% compound annual growth rate. Like the S&P since 65 has been amazing as a 10% annual growth rate with dividends reinvested. That's a 405 X return... Berkshire was …”
Ben Gilbert May 18, 2026 ▶ 2:19:29 Vanguard: The communist capitalist who saved investors a trillion dollars (Audio) · Acquired
May 18, 2026 positive
Insight
Berkshire Hathaway is essentially a no-fee private equity fund
“I have always thought about Berkshire as the vanguard of private equity funds. Like, it is essentially a no-fee private equity fund. You get to buy shares, and you don't pay fees and carry on it.”
David Rosenthal May 18, 2026 ▶ 2:20:35 Vanguard: The communist capitalist who saved investors a trillion dollars (Audio) · Acquired
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