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Equity Research Database
Institutional Investment Pitches
Explore thousands of hedge fund pitches, high-conviction equity research memos, and portfolio manager commentary extracted from quarterly letters.
Explore thousands of hedge fund pitches, high-conviction equity research memos, and portfolio manager commentary extracted from quarterly letters.
The stock that amazes us is Berkshire Hathaway - currently showing (small) negative beta to the S&P 500. This is surprising...
— John Hempton
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Other investors who've written on Berkshire Hathaway Inc.
Long-time client accounts have owned Berkshire Hathaway (BRK) for years, but we have not owned the iconic company across all accounts. Berkshire's sheer size...
Investing in Berkshire Hathaway represents an investment in human judgment and leadership rather than a passive index. This personal alignment...
The manager treats Berkshire Hathaway as the ultimate yardstick for capital allocation, utilizing it as the fund's baseline opportunity cost. Berkshire's strong insurance...
More institutional theses from Bronte Capital Amalthea Fund
Current valuation - 5.7x earnings, 0.5x tangible book, probably 3.5-4x normalised earnings. Ie this is...
Coca-Cola is presented as an exceptional business with high returns on capital and a powerful brand that satisfies consumer desires. While it serves...
The manager admits to making a valuation mistake by holding Spirax Group as its multiples rose to ten times revenue due to temporary pandemic-era supply chain dynamics. Despite this error,...