Of course, this list is not complete without Berkshire Hathaway (BRK.B).
The fact that it is a tremendously diversified conglomerate is but one reason to hold the stock. The legendary management is certainly another. However, the biggest reason might simply be that the company has weathered every storm since Noah boarded his ark.
Berkshire is very dependent on its insurance holdings, yet no matter how large a tragedy may strike the U.S., Berkshire always comes out just fine.
As with Amazon, earnings from year to year aren’t easily predicted because so much of Berkshire is dependent on insurance. Earnings depend on how many claims get paid from one year to the next.
And even after Uncle Warren goes to the big See’s Candies in the sky, I have every confidence in his replacements.
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Lawrence Meyers does not own shares in any company mentioned.