Buffett Is Full Of Crap -- January 13, 2023

Link here.

I hate to be blunt, and crass, but that's a bunch of crap ... or bullshit ... or whatever. In fact, Buffett likes companies whose names start with "A," "B," or "C." He never gets much farther down the alphabet unless the CEO flies to Omaha to beg for help (an "O" company).

Companies whose names start with "A," "B," or "C"accounted for well over 60% of his portfolio until the recent Wall Street bear market. Companies that he owns outright (see way below) at least get to the "X" in the alphabet.

Why in the world does Buffett invest in companies that make up less than 1% of his entire portfolio, which is the vast majority of his holdings -- companies that make up less than 1% of his entire portfolio.

Link here. It took three screenshots to get his entire portfolio, and this does not include the companies he owns outright. 

According to the 2021 annual report:

Warren Buffett, through Berkshire Hathaway Inc owns 65 distinct companies, divided into a complex web of over 260 subsidiaries.

1. Acme Brick Company
2. HomeServices of America
3. Applied Underwriters
4. International Dairy Queen, Inc.
5. Ben Bridge Jeweler
6. IMC International Metalworking Companies
7. Benjamin Moore & Co.
8. Johns Manville
9. Berkshire Hathaway Automotive
10. Jordan’s Furniture
11. Berkshire Hathaway Direct Insurance Company (THREE)
12. Justin Brands
13. Berkshire Hathaway Energy Company
14. H. Brown Shoe Group
15. Berkshire Hathaway GUARD Insurance Companies
16. Larson-Juhl
17. Berkshire Hathaway Homestate Companies
18. LiquidPower Specialty Products Inc. (LSPI)
19. Berkshire Hathaway Specialty Insurance
20. Louis – Motorcycle & Leisure
21. BH Media Group
22. Lubrizol Corporation
23. biBERK Business Insurance
24. Marmon Holdings, Inc.
25. BoatU.S.
26. McLane Company
27. Borsheims Fine Jewelry
28. MedPro Group
29. Brooks
30. MiTek Inc.
31. Buffalo NEWS, Buffalo NY
32. MLMIC Insurance Company
33. BNSF
34. National Indemnity Company
35. Business Wire
36. Nebraska Furniture Mart
37. Central States Indemnity Company
38. NetJets®
39. Charter Brokerage
40. Oriental Trading Company
41. Clayton Homes
42. Pampered Chef®
43. CORT Business Services
44. Precision Castparts Corp.
45. CTB Inc.
46. Precision Steel Warehouse, Inc.
47. Duracell
48. RC Willey Home Furnishings
49. Fechheimer Brothers Company
50. Richline Group
51. FlightSafety
52. Scott Fetzer Companies
53. Forest River
54. See’s Candies
55. Fruit of the Loom Companies
56. Shaw Industries
57. Garan Incorporated
58. Star Furniture
59. Gateway Underwriters Agency
60. TTI, Inc.
61. GEICO Auto Insurance
62. United States Liability Insurance Group
63. General Re
64. XTRA Corporation
65. Helzberg Diamonds

As Buffett himself says, "diversification is protection against ignorance."

Didn't Peter Lynch limit himself to ten companies at a time?