| "You cannot find a better model for a citizen" Walter Scott, a longtime friend of Warren Buffett and a member of the Berkshire Hathaway board since 1988, has died at the age of 90.
Buffett told the Omaha World-Herald that "you cannot find a better model for a citizen than Walter Scott."
"He was basically a builder, whether he was building Kiewit and physical things or building his vision of Omaha or Nebraska. He was nonstop."
Scott led a major Omaha construction firm, now named Kiewit Corporation, from 1979 until his retirement in 1998.
Earlier this year, Forbes estimated his net wealth was around $5 billion. Much of that came from Berkshire Hathaway Energy. He and Buffett partnered in 1999 to buy the company when it was named MidAmerican Energy.  Scott used much of his money to become a very influential philanthropist in Omaha. The World-Herald said, "Many Omahans barely know of the billionaire businessman beyond seeing his name on the face of building projects he's supported," including facilities at the University of Nebraska Medical Center and the Omaha zoo's aquarium.
Scott joined Buffett's Giving Pledge in 2010, although he said at the time he had made a commitment long ago that when he died, almost all of his estate would go to his foundation, which supports projects in Omaha.
In a 1997 video, he said, "I think you have to give something back to your community that will allow people in the future a better education, a better opportunity, a better start in life."
How Munger started investing in apartment buildings Bloomberg has a story today about Charlie Munger's "well-timed bet on suburban apartments -- thanks to a neighborhood teenager who showed up at his house with a Hebrew Bible" years ago.
The story says "the encounter led to an improbable friendship" with Avi Mayer, who went on to start Afton Properties.
The company has been buying garden-style apartment buildings in Southern California, and now has a real estate portfolio that's estimated to be worth $1.2 billion, as the pandemic pushes rents higher.  Bloomberg says Munger and Afton are not commenting on how much of the company's growth has been fueled by Munger.
It does quote Munger as saying at an event last year that well after their initial encounter, Munger suggested they partner to buy buildings.
He talked about upgrades to the complexes they buy, including $600,000 for trees in just one year.
"It'd be nice if I were Mother Teresa and did something I didn't like doing, because I'm a noble soul. But my life is organized so that time after time, what works for my pocketbook works for every moral teaching that I've been taught."
BUFFETT AROUND THE INTERNET Some links may require a subscription
BERKSHIRE STOCK WATCH
  BERKSHIRE'S TOP U.S. STOCK HOLDINGS - Oct 1, 2021
 Berkshire's top holdings of disclosed publicly-traded U.S. stocks by market value, based on today's closing prices.
Holdings are as of June 30, 2021 as reported in Berkshire Hathaway's 13F filing on August 16, 2021, except for Apple, Bank of America, and U.S. Bancorp, which also include shares held as of June 30, 2021 as disclosed in New England Asset Management's 13F filing on August 16, 2021.
In addition to U.S. stocks, shares held as of December 31, 2020 of China's BYD, as listed in Buffett's 2020 letter to shareholders, are included. The price of those shares in U.S. trading is used to approximate the current market value of the position. The value of the stake as a percentage of the company's market value is fixed at what was listed as of December 31, 2020 in the letter.
The full list of holdings and current market values is available from CNBC.com's Berkshire Hathaway Portfolio Tracker.
QUESTIONS OR COMMENTS
Please send any questions or comments about the newsletter to me at alex.crippen@nbcuni.com. (Sorry, but we don't forward questions or comments to Buffett himself.)
If you aren't already subscribed to this newsletter, you can sign up here.
-- Alex Crippen, Editor, Warren Buffett Watch
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Langganan:
Posting Komentar (Atom)
EmoticonEmoticon