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Time Is Money

Nov 4, 2024 • 3 min read

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Tropical Storm Warning
Berkshire Hathaway Cash Increase

Tropical Storm Warning:

As of November 3, 2024, a developing tropical system in the southwestern Caribbean Sea is tracking northward, with the potential to impact the Gulf of Mexico later this week. The National Hurricane Center (NHC) has issued a tropical storm warning for Jamaica and a hurricane watch for the Cayman Islands, as the system is expected to strengthen as it moves. Forecasts currently indicate a 50% chance of cyclone formation, suggesting that the system may intensify further once it reaches the Gulf.
Conditions in the Gulf are anticipated to be favorable for additional development, and the storm could enter the region by midweek. Along the Gulf Coast, residents and communities are being advised to monitor the situation closely, as the NHC highlights the importance of staying prepared for potential changes in the storm’s path and strength.
The anticipated track and intensification of this system underscore the need for early preparation. Residents along the Gulf Coast should review their emergency plans and ensure essential supplies are ready, should the system strengthen further. Staying informed through updates from the NHC and local weather services will be crucial in the coming days as more information becomes available.

Berkshire Hathaway Cash Increase:

Berkshire Hathaway, led by Warren Buffett, has recently made notable adjustments to its investment portfolio by reducing its holdings in major stocks and significantly increasing cash reserves. In 2024, Berkshire trimmed its stake in Apple, one of its largest investments, from $135 billion to around $84 billion after the second quarter and further reduced it to approximately $69.9 billion by the end of the third quarter, selling an additional 100 million shares. In addition to Apple, Berkshire also reduced its position in Bank of America, selling roughly $9 billion in shares as part of its broader portfolio rebalancing.
These stock sales have resulted in a substantial increase in Berkshire’s cash holdings, reaching a record $325.2 billion by the end of the third quarter, up from $276.9 billion at the end of the previous quarter. This increase in cash reserves provides Berkshire with greater flexibility to act on future investment opportunities, particularly if a market downturn creates favorable conditions for acquiring assets at discounted prices.
The decision to scale back on key stock positions and boost cash holdings may also be influenced by potential future tax changes affecting capital gains. Reducing positions now allows Berkshire to lock in gains under the current tax structure, securing profits without the uncertainty of impending tax adjustments. Additionally, this approach aligns with Buffett’s historical investment strategy, which emphasizes maintaining ample liquidity to capitalize on undervalued assets during periods of market volatility.
Overall, these portfolio adjustments reflect Berkshire Hathaway’s conservative approach, balancing reductions in concentrated equity positions with a growing cash reserve. By accumulating a $325 billion cash position, Berkshire aims to navigate potential economic uncertainties and be well-positioned for strategic investments should favorable opportunities arise in the future. This significant buildup marks one of the highest cash levels Berkshire has held, underscoring a cautious stance and preparedness for the changing market landscape.

Statistic:

Largest hotel companies by market capitalization:

🇺🇸 Marriott International: $73.35B
🇺🇸 Hilton Worldwide: $57.64B
🇯🇵 Oriental Land: $40.39B
🇺🇸 Las Vegas Sands: $37.50B
🇺🇸 Host Hotels & Resorts: $24.77B
🇭🇰 Galaxy Entertainment: $19.44B
🇬🇧 InterContinental Hotels Group: $17.78B
🇺🇸 Hyatt Hotels: $13.92B
🇨🇳 Huazhu Hotels: $11.90B
🇮🇳 Indian Hotels Company: $11.64B
🇫🇷 Accor: $11.10B
🇺🇸 MGM Resorts: $10.84B
🇺🇸 Wynn Resorts: $10.61B
🇸🇬 Genting Singapore: $7.70B
🇬🇧 Whitbread: $7.45B
🇺🇸 Wyndham Hotels & Resorts: $6.84B
🇺🇸 Choice Hotels International: $6.55B
🇺🇸 Ryman Hospitality Properties: $6.44B
🇺🇸 Vail Resorts: $6.21B
🇲🇴 MGM China Holdings: $4.92B
🇹🇭 Minor International: $4.57B
🇲🇴 Wynn Macau: $4.12B
🇺🇸 Hilton Grand Vacations: $3.80B
🇨🇳 Atour Lifestyle: $3.58B
🇲🇾 Genting Berhad: $3.48B

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