Roundup: Trump Wins, Buffett Loses, & Bitcoin Hits ATH
Mark Connors | Managing Director, Head of Global Macro Strategy
Nov 7, 2024
Trump Wins, Buffett Loses, & Bitcoin Hits ATH
From railroads & soda pop to Apple, Warren Buffett’s Berkshire Hathaway (BRK/B) has always endeavored to buy great companies at good prices. Now that BRK/B is dropping its Apple holdings, what investment will put Warren Buffett’s Berkshire Hathaway back into the Top 10? (Assets by Market Cap, shown below)
That task is becoming harder to achieve with companies like NVIDIA gaining 194% YTD, which is more than 10x that of Apple’s 16% return. This is one reason NVIDIA flipped Apple in the below list…and why Warren’s BRK/B is now sitting at #11. What few realize is that NVDA has been evolving to integrate software into their legacy hardware offering. This was over a decade in the making, but the gambit paid off handsomely.
Taking inventory of the below list, it looks like you need either a killer tech-based offering (NVDA, AMZN, META) or to be a commodity like gold, silver or bitcoin, in order to pierce the top 10. Notably, bitcoin happens to have both attributes.
