The Berkshire Beat: September 12, 2025
All of the latest Warren Buffett and Berkshire Hathaway news!
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In April 2023, Warren Buffett and Greg Abel traveled to Japan to meet with the leaders of that nation’s largest trading houses — and, while there, carved out time for an extended interview with CNBC.
And, even though the questions that day trended towards the calamitous (like the then-recent collapse of Silicon Valley Bank or the devastating train derailment in Ohio), Buffett urged viewers to look beyond the gloom.
“We love to complain about wherever we are,” said Buffett, “but … the world has changed so much for the better in terms of how well off people are compared to any other time in history. If I had been born 150 years ago and I went to the dentist, they’d pour whiskey down [my throat before pulling a tooth] and all kinds of things. There are just all kinds of improvements — but it is man’s nature to be dissatisfied.”
Buffett’s words echo those of G.K. Chesterton, who once observed, “Pessimism appeals to the weaker side of everybody. The person who is really in revolt is the optimist, who generally lives and dies in a desperate and suicidal effort to persuade all the other people how good they are.”
And I can vouch for that. I try to post a Buffett or Munger video clip on X and TikTok each and every day — and the ones about counting our blessings and appreciating life inevitably attract the most negative comments.
Pessimism might be cool, but it isn’t helpful. Neither does it inspire improvement or change. In fact, it discourages people into complacency and continued decay.
Optimism, on the other hand, is the courageous belief in life’s inherent value, in the remarkable work that the men and women who came before us did, and in our shared responsibility to nurture said progress and push on even further.
This all segues in nicely to this month’s Uncommon Sense article, which will go out to paid supporters early next week. It’s a speech and short Q&A that Sir John Templeton delivered in the months following the Black Monday Crash of 1987.
Rather than wallow in market misery and complaints, he instead called for gratitude.
Everyone has problems. Every person has problems. Every family has problems. Every nation has problems. Always has had and always will have problems. But these problems are not always solved — and I have never been smart enough to know how to solve these problems — and some are never solved. But I can say that I believe there are less problems today than in any one of the 48 years since I became an investment counselor.
To concentrate on problems makes people blind to the big picture. There is something strange in human nature that makes us want to dwell on bad news, on catastrophes, on problems. But what we really ought to do is carefully think through the blessings we have. Because for every problem you or the nation has, there are ten blessings.
We are blessed today as no other generation in history has ever been blessed.
Templeton also had much to say about the principles of long-term investing, discipline, patience, and his steadfast refusal to be swayed by fleeting market noise.
So, if you’ve been considering an upgrade, now is the perfect time.
With that bit of housekeeping out of the way, let’s move on to the latest news and notes out of Omaha…
CNBC’s Squawk Box celebrated its 30th anniversary this week — with one very special guest in attendance. Jim Cramer posted a great photo with his “lifelong idol” Warren Buffett from the anniversary celebration in New York City. The Oracle, who just turned 95 himself, is looking good!
Marubeni CEO Masayuki Omoto outlined ambitious plans to double his company’s market cap to over ¥10 trillion by March 2031 — and dished on what it’s like to have Warren Buffett and Berkshire Hathaway as major shareholders. “Mr. Buffett has said that the Japanese trading house business model can last 100 years,” he told Sankei Shimbun. “In May, he stated that he would like to hold the shares for 50 years. For an American investor, such statements are extremely rare. Mr. Buffett has succeeded in finance, insurance, and railroads. His shareholding is highly meaningful because it highlights the opportunities that arise from diversification.”
Does Omoto feel additional pressure from having such an illustrious shareholder? “Of course,” he said. “Mr. Buffett is one of the world’s top investors. He’s likely monitoring our daily performance closely, which creates intense pressure. To meet expectations, we must focus on the right businesses. If trading houses succeed in planting deep roots in winning businesses, I think they can endure for 100 years.”
Fun fact: BNSF Railway has obtained more patents than all other Class I railroads combined. And it recently shared details with Railway Age about how four recent innovations are already enhancing operational efficiency. (1) The drone-based Automated Yard Check locates containers and significantly reduces dwell time. Already in place in Fort Worth, the railroad plans to expand the system to most of its 27 intermodal facilities within the next two years. (2) Load Plan Optimization leverages artificial intelligence to streamline shipment assignments and routes. (3) For maintenance, the Engine Component Removal Tool accelerates the process of replacing injectors and retaining bolts while also prioritizing worker safety. “Now, the tool does the heavy lifting,” said BNSF machinist Chad Sellman. (4) The Multi-Objective Train Block Assignment System moves the many groups of train cars to where they need to be so that shipments don’t fall behind schedule.
PacifiCorp, the beleaguered Berkshire Hathaway Energy subsidiary, asked a Portland judge to pause approximately 160 jury trials related to the 2020 wildfires while the appeals process plays out. The company contends that this “impossible schedule” of trials would strain its ability to deliver reliable power to hundreds of thousands of Oregon customers — while also imposing a “crushing financial burden” over the next few years while it pursues an appeal.
LP Building Solutions (also known as Louisiana-Pacific) was named to Newsweek’s Most Admired Workplaces 2026 list. (Berkshire Hathaway owns 8.1% of the building materials manufacturer.) “Recognition on Newsweek’s list is especially meaningful because it reflects the voices of American workers,” said CEO Brad Southern. “At LP, our goal is to create an environment where team members can thrive, feel valued, and see a future for themselves. This honor affirms the strength of our culture and the dedication of our people.”
And a few odds and ends to finish off the week…
Warren Buffett checked in at #9 on this year’s Forbes 400 list with a net worth of approximately $150 billion.
On Wednesday, Berkshire Hathaway collected $208.7 million in quarterly dividends from Chevron.
Apple unveiled much-anticipated new iPhones, AirPods, and Apple Watches at its “Awe Dropping” event. Of particular note, Apple Watch Series 11 beefed up its health bonafides with the debut of hypertension notifications.
SPS Technologies, a subsidiary of Berkshire’s Precision Castparts, plans to rebuild its aerospace parts manufacturing plant on the same site devastated by fire back in February.
I’m currently reading, finally, HW Brands biography of Benjamin Franklin. It is obvious why Charlie admired Franklin so much. He focused on improving, not complaining. If we all did that, in our little ways, together we would get somewhere.