WHAT YOU NEED TO KNOW
  • Warren Buffett frequently spends evenings watching eclectic YouTube clips unrelated to finance or investing.
  • His viewing ranges from vintage commercials and music performances to documentaries, railroads and videos featuring Charlie Munger.
  • The Wall Street Journal said Buffett’s YouTube habit was unrelated to Berkshire Hathaway’s investment in Alphabet.
  • Berkshire added $595.3 million in Lennar shares across 11 trading days, building a disclosed 12.2% stake.

DISCLAIMER: GoldInvestors.news is not a registered investment, legal or tax advisor or broker/dealer. All investment/financial opinions expressed by GoldInvestors.news are from the personal research and experience of the owner of the site and are intended as educational material. Although best efforts are made to ensure that all information is accurate and up to date, occasionally unintended errors and misprints may occur.

Warren Buffett begins his mornings watching CNBC, but his evenings often belong to YouTube. Friends say the 96 year old investor “can’t get enough” of video clips viewed from a recliner in front of an “enormous” television at his Omaha home.

A Wall Street Journal article offers a rare look at Buffett’s viewing habits away from Berkshire Hathaway. Despite his celebrated investing career, friends say he is “hardly ever” watching anything connected to investing or finance.

Buffett remains a “fan of Berkshire Hathaway’s own content” and is “proud of how it performs on the video platform.” Yet the clips that command his attention cover a far wider and considerably more unpredictable range.

His viewing list includes “Glenn Close clips ... commercials from the 1950s ... Paul Anka videos ... speeches by complete unknowns ... show tunes, railroads, the big-band era, Nebraska and early Frank Sinatra performances from the 1930s.”

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Those interests can send Buffett into what the article calls “random rabbit holes.” He may later arrive at his office enthusiastic about an amateur performance, including a moving rendition of “My Way.”

Sharon Osberg, a three time world bridge champion, is described as Buffett’s “frequent viewing companion.” Osberg has taught both Buffett and Bill Gates the finer points of bridge.

“Warren’s range is broad. It can be the silliest things,” Osberg said. His choices have included a documentary about Roy Cohn and an Uzbekistan version of America’s Got Talent.

Some clips carry a more personal weight. Osberg said Buffett has watched videos featuring Charlie Munger, his late friend and business partner, including Munger’s 2017 appearance at the University of Michigan.

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“You feel the bond between the two of them as he watches Charlie. It’s really quite something,” Osberg said. The viewing sessions reveal a private side of a partnership long associated with Berkshire’s investing record.

The Wall Street Journal rejected the notion that Buffett’s YouTube habit influenced Berkshire’s large investment in Alphabet, YouTube’s corporate parent. “He just really likes watching the clips, friends say.”

Buffett has been notoriously slow to embrace new technologies, according to the article. His move toward YouTube nevertheless fits an ongoing audience shift from streaming toward video clips that has made YouTube the most watched video provider on televisions in the United States.

Berkshire’s investing activity has continued alongside Buffett’s nightly viewing. Late last week, the company added another $192.6 million to its position in homebuilder Lennar, according to an SEC filing made Monday.

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Berkshire bought 2.4 million Lennar Class A shares at an average price of $79.65 and 15 thousand Class B shares at an average price of $78.33. The purchases occurred on Thursday, October 1 and Friday, October 2.

Because Berkshire’s stake exceeded 10% in mid September, an SEC rule has required it to disclose further purchases within two business days. No filing had appeared so far this week, indicating no additional reported buying through at least Tuesday.

Berkshire has added $595.3 million in Lennar shares across 11 trading days since September 17. At the closing prices cited, its disclosed 12.2% position of 29 million shares was worth $2.2 billion, compared with 7.2 million shares worth $742 million at the end of last year.

Lennar shares dropped more than 25% during that period as rising interest rates made homes less affordable. Separate figures listed Berkshire’s market capitalization at $1,104,215,482,465 and its June 30 cash at $365.5 billion, down 8.0% from March 31.

Buffett’s comments about consumer businesses offer another glimpse into his investing framework. Discussing Coca-Cola, he said, “It’s share of mind. It’s not share of market. It’s share of mind that counts.”

He argued that established names can occupy a durable place in consumers’ thinking. Buffett said that favorable meaning cannot simply be purchased through “a billion-dollar advertising budget or a $3 billion advertising budget or hiring 20,000 super salesmen.”

DISCLAIMER: GoldInvestors.news is not a registered investment, legal or tax advisor or broker/dealer. All investment/financial opinions expressed by GoldInvestors.news are from the personal research and experience of the owner of the site and are intended as educational material. Although best efforts are made to ensure that all information is accurate and up to date, occasionally unintended errors and misprints may occur.