Recent hurricanes add to a difficult year for the insurance business but have minimal impact on our valuation.
The narrow-moat asset manager's purchase of Guggenheim's ETF business will fill in product holes and allow the firm to create customized products to quickly meet investor demand.
Warren Buffett’s unwillingness to overpay for Oncor is a sign the firm is sticking to its values and not that it's lost the touch to complete deals.
The richly-priced deal would've been dilutive to Berkshire Hathaway Energy's earnings in the near-term -- though the firm should receive its $270 million negotiated breakup fee.
BlackRock and T. Rowe Price remain our top picks in the space.
Most of the changes to the firm's stock holdings were as expected, but the sale out of GE was somewhat surprising.
The company boosted its book value per share in the quarter and had solid top-line results, but profitability was weaker than expected.
We expect the competing bid to lower the probability of Berkshire Hathaway Energy's offer closing, but still view it as greater than 50%.
We remain cautious on the deal and expect a slight increase to our fair value estimate after this and other recent actions.
Morningstar's Gregg Warren advises caution with traditional asset managers, but likes BlackRock on the passive side and T. Rowe Price for active.
Hints that Buffett could retire one day and a lack of clarity around the future of BNSF were highlights of the 2017 meeting, says Morningstar’s Gregg Warren.
Company reports solid top-line, but weaker bottom-line, results ahead of annual meeting.
Now may not be a great time to buy shares of Berkshire Hathaway, as it's trading at around 98% of our fair value estimate.
Morningstar analyst Gregg Warren expects 3G Capital, Wells Fargo, Apple, and airlines to be among the major topics this weekend.
Morningstar's Gregg Warren has honed his process of asking the right questions over the years he's been on the Berkshire annual meeting analyst panel.
Warren Buffett's sale isn't a reflection of the wide-moat bank's future.
The wide-moat asset manager's experiment with its active equity platform may produce more consistent levels of investment performance and organic growth over time.
Major policy changes won’t alter long-term trends.
Full-year net earnings were down 0.1% from 2015, but the firm keeps building book value per share and now has $50 billion in dry powder.
Apple becomes a top 10 holding as Warren Buffett's Berkshire Hathaway continues to bet on U.S. airlines.
We’re leaving our fair value estimate for AMG unchanged after the firm reported earnings.
We're leaving our fair value estimate unchanged, but see this as a positive piece of news for the wide-moat firm.
The wide-moat asset manager's ability to continue to generate solid organic growth despite its size has led us to raise our fair-value estimate.
We view Berkshire as fairly valued with the firm's shares now trading close to our fair value estimate.
The investment managers at Berkshire have made a more than $1 billion bet on the three major domestic airlines.
Even if the new administration rolls back the Department of Labor’s fiduciary rule, heightened investor focus on fees and performance won’t go away.
Volatility will be a negative for some traditional asset managers, while investment banks and exchanges should benefit from higher trading levels.
We're maintaining our fair value estimate as weaker results from Geico and BNSF were largely offset by the rest of Berkshire's operations and the addition of Precision Castparts to overall results.
We maintain our $385 fair value estimate for the wide-moat firm.
This dividend payer is one of the better bargains among asset managers today.
Weaker results from BNSF and BHE were largely offset by better results from insurance and finance and financial products.
We think the market overestimates the effect on this asset manager.
Some will be impacted more than others, but we expect all of them to be caught in the undertow of declining global markets in the near term.
A focus on identifying "disruptive change" across sectors and industries has helped Morgan Stanley Institutional Growth avoid losers and sniff out opportunities.
The secular trend toward passive investments won't affect how Dennis Lynch and his team run Morgan Stanley Institutional Growth Fund.
Amid volatility, Yacktman finds success with downside protection and eye on risk.
Weaker results from BNSF were largely offset by better results from insurance and financial products, as well as the addition of Precision Castparts.
Morningstar's Gregg Warren shares the insight he gained on Berkshire's capital spending and share buyback philosophy.
Berkshire's reinsurance consolidation tilts the CEO race more toward Abel than Jain.
Boosting Ajit Jain’s insurance responsibilities is prudent, but but Greg Abel may be a better choice for CEO when the time comes, writes Morningstar’s Gregg Warren.
The firm's fourth-quarter and full-year results were mixed but don't alter our long-term view, fair value estimate, or moat rating.
Rising rates will help asset managers that run money market funds, but will likely prove a headwind to firms focused on fixed-income, writes Morningstar’s Gregg Warren.
A one-time gain from the Kraft-Heinz deal obscured mixed operating results from Berkshire Hathaway in the third-quarter, writes Morningstar’s Gregg Warren.
It still has one of the better and more stable growth outlooks of the asset managers we cover.
Updating our operating segment assumptions and including Precision Castparts increases our fair value estimate.
The difference between traditional and alternative managers affects how we treat them in a downturn.
Berkshire’s more than $30 billion acquisition of Precision Castparts is another example of Buffett buying a wonderful business at a fair price, writes Morningstar’s Gregg Warren.
Firm was impacted more heavily by equity and credit market volatility than we had been anticipating.
The company's current stock price represents the best entry point long-term investors have seen in quite some time.
Warren Buffett’s Berkshire Hathaway added no new holdings in the first quarter and, instead, committed more money to existing holdings.