All of the latest Warren Buffett and Berkshire Hathaway news! Including updates on Ajit Jain, Bank of America, Apple, Chevron, Brooks Running, Sirius XM, Occidental Petroleum, and more...
Well, I don't have any information other than the filing that showed him selling 200 Class A shares — so anything I say is just pure speculation. I've seen some people say that this is because he's not going to be the next CEO, which just shows how ill-informed a lot of the chatter is because Ajit never wanted to run Berkshire and Greg Abel has been in place as the successor for several years now.
The fact that it wasn't accompanied by any official news from Berkshire makes me think that the explanation is more mundane than anything like Ajit leaving the company imminently. But, again, who knows? It's surprising news, for sure.
Brooks is an interesting company. For a few years, I used Brooks running shoes exclusively since I like to buy from Berkshire subsidiaries. But a few years ago, the shoes stopped going on sale regularly while Nikes were regularly on sale so I switched. This obviously indicates that saving $30-40 per pair of shoes is important enough for a guy who goes through 5 pairs of running shoes per year, but it might also show that Brooks has more pricing power than its competitors. Both Nike and Brooks make great products. To me, however, they are not differentiated from each other enough to favor one over another if there’s a price difference!
I've never bought a pair of Brooks shoes, but my brother has a Christmas-themed pair and they seem pretty nice. But, yeah, a $30-40 difference 5x a year will add up quick!
Do you think Ajit will quit Berkshire?
Well, I don't have any information other than the filing that showed him selling 200 Class A shares — so anything I say is just pure speculation. I've seen some people say that this is because he's not going to be the next CEO, which just shows how ill-informed a lot of the chatter is because Ajit never wanted to run Berkshire and Greg Abel has been in place as the successor for several years now.
The fact that it wasn't accompanied by any official news from Berkshire makes me think that the explanation is more mundane than anything like Ajit leaving the company imminently. But, again, who knows? It's surprising news, for sure.
Maybe we really forgot that he is also 73 years old：）
Brooks is an interesting company. For a few years, I used Brooks running shoes exclusively since I like to buy from Berkshire subsidiaries. But a few years ago, the shoes stopped going on sale regularly while Nikes were regularly on sale so I switched. This obviously indicates that saving $30-40 per pair of shoes is important enough for a guy who goes through 5 pairs of running shoes per year, but it might also show that Brooks has more pricing power than its competitors. Both Nike and Brooks make great products. To me, however, they are not differentiated from each other enough to favor one over another if there’s a price difference!
A few months ago, there was an article in Fortune about Brooks and it touched on how the company aims for the premium end of the market, so I guess that makes sense about the pricing. https://fortune.com/2024/06/04/brooks-running-ceo-new-balance-dad-shoes-trendy/
I've never bought a pair of Brooks shoes, but my brother has a Christmas-themed pair and they seem pretty nice. But, yeah, a $30-40 difference 5x a year will add up quick!