Berkshire Hathaway’s 2024 Annual Report
My thoughts on Berkshire Hathaway's 2024 annual report and Warren Buffett's letter to shareholders ...
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A list of fifteen recent articles including detailed coverage of Berkshire Hathaway's 2023 annual report and Warren Buffett's shareholder letter ...
Progressive is Firing on All Cylinders
Progressive resumed aggressive growth in the first quarter while reporting a strong combined ratio. The article briefly discusses GEICO's recent results ...
Progressive vs. GEICO: 2023 Results
Both companies posted underwriting profits last year but Progressive grew rapidly while GEICO lost market share ...
The Digest #173
Berkshire's Q3 earnings, Munger on retailing, SBF's strange philosophy, Rob Henderson on reading, Howard Marks on a full return world, Morgan Housel on writing that sells, Cities on Mars ...
GEICO Prioritizes Profits Over Market Share
Berkshire Hathaway's auto insurer has returned to consistent profitability in 2023 but at the price of ceding market share that will be costly to regain in the future ...
Warren Buffett on Inflation — Part 2
Inflation took the auto insurance industry by surprise in the 1970s, impacting Berkshire's auto insurance business as well as nearly bankrupting GEICO ...
Insurance Loss Reserve Estimates
The ability to accurately estimate loss reserves is a core competency for any well-run insurance company. Progressive provides a useful case study in loss reserving practices ...
Berkshire Hathaway’s Q2 2023 Results
Thoughts on Berkshire Hathaway's second quarter results with a focus on GEICO, BNSF, HomeServices, Clayton Homes, Apple, and share repurchases ...
The Digest #155
Early Retirement, Chris Davis on Berkshire's future, Howard Marks on market cycles, Threads vs. Twitter, Costco takes the high road, James Cameron, GEICO in the 1970s ...
Berkshire Hathaway’s Q1 2023 Results
Operating earnings have been on an upward trend as higher interest rates boost investment income and Berkshire's subsidiaries turn in a solid performance ...
The Digest #143
Gell-Mann Amnesia, GEICO, Todd Combs, Onboarding Directors, Damodaran on Meta, Paul Graham's Essays, Home Depot, Nick Sleep ...
A Closer Look at Berkshire Hathaway’s Operating Income
Berkshire Hathaway reported third quarter results on November 5, 2022. This article examines recent trends in the company's net operating income ...
The Digest #130
Reading News, Repurchase Tax, Margin of safety in Retirement, Risk of e-bikes, $426 for a room at Motel 6?!?, Geothermal Energy, Cyber War ...
Berkshire Hathaway’s Q2 2022 Results
A closer look at GEICO, Repurchases, and Greg Abel's BHE sale ...
Auto Insurance Competitive Dynamics
“With the price advantage GEICO’s low costs allow, it’s not surprising that several years ago the company seized the number two spot in auto insurance from Allstate. GEICO is also gaining ground on State Farm, though it is still far ...
The Digest #90
Inflation, I Bonds, Trading in Congress, The Financial History of Berkshire Hathaway ...
The Autonomous Vehicle Revolution
It is no accident that the rapid rise in living standards over the past century has coincided with tremendous technological progress throughout the economy. At a fundamental level, rising living standards require the economy to generate an ever-increasing supply of ...
Examining Progressive’s Competitive Position
The Progressive Corporation has offered insurance products to consumers since 1937 and is currently estimated to be the fourth largest private passenger automobile insurer in the United States.  Progressive trails State Farm, GEICO, and Allstate and has overall market share ...
What Does Buffett’s Valuation of GEICO Imply for Progressive?
In this article, we will take a look at comments made in Warren Buffett's 2010 annual letter regarding GEICO's valuation and examine potential implications for the intrinsic value of Progressive, GEICO's most fierce competitor. Read this article for more details ...