Toll Brothers is priced like an old-school cyclical homebuilder despite becoming an increasingly capital-efficient luxury brand with strong earnings growth. It trades at 10.5x earnings versus a historical norm of about 17.5x. EPS has compounded 18.8% a year since 2016, consensus sees 9% growth in 2027 and 15% in 2028, and dividends have compounded 17.6% since 2017. It is more asset-light, with 57% of controlled lots optioned versus 38% in 2019. x.com 

Berkshire Hathaway benefits from a flight to low-beta quality stocks that are not burdening themselves with AI debt. Its shares are up 10% in October, while three of its largest holdings, Apple, Coca-Cola and Chevron, have been surging. Boring pays. x.com 

Berkshire Hathaway's capital allocation has changed for the worse under new leadership, as its $8.5B all-cash Taylor Morrison acquisition buys a homebuilder just as home prices reverse, new homes lose their premium and goods and commodity inflation takes off. Its large Alphabet stake looks similarly unwise. x.com 

Berkshire Hathaway is not a company to bet against after a strong Q2. Investment gains nearly tripled year over year, from $6.36B to $16B, net income more than doubled, and buybacks jumped from under $300M last quarter to $4.5B. x.com  x.com 

Berkshire Hathaway's return to net stock buying makes bearishness hard to justify. It beat earnings, repurchased $4.5B of its own shares and was a net buyer of about $20B in stocks, ending 14 straight quarters of net selling. x.com 

Berkshire Hathaway is worth accumulating because its insurance float and $324.9B Treasury bill pile pay it to wait for an opportunity, so higher rates bring income and leverage over whoever runs out of cash first. It passes the Second Paycheck Test at unmatched scale, with $177.5B of float. Rate gains alone are small, about $642M after tax per quarter point, and GEICO's underwriting profit fell 45%. Management bought about $4.5B of stock near 1.4x book; at 1.48x, accumulate, don't chase. x.com  … Show more

Berkshire Hathaway's $4.5 billion buyback is a valuation signal that its shares trade below intrinsic value. Berkshire repurchases only when management believes that, and it had bought none for six quarters; insiders who wrote the intrinsic-value rulebook buying again says more than any multiple. @VistaSharesX adds that Q2 also saw the cash pile fall and Berkshire turn net buyer of stocks, the first quarter that looks like Greg Abel's. x.com 

Berkshire Hathaway is a better holding than the S&P 500 right now, offering both higher returns and a higher margin of safety. x.com  x.com 

Weyerhaeuser's fall to about 12x P/EBITDA puts it in strong-buy territory, with potential 50% annual returns on hard assets. Nearly 80% of its business assets are timberlands, backed by investment-grade credit and a $1.75B revolver. The roughly $500M Monticello plant should earn $100M+ annual EBITDA at full capacity, doubling TimberStrand capacity. At a cycle low P/E misleads; NAV, balance sheet and cash flow after reforestation matter more. Housing, rates, tariffs and wildfire are risks. x.com  … Show more

US homebuilders look attractive because America remains structurally undersupplied with housing, and Berkshire Hathaway is buying quality builders while Wall Street focuses on near-term affordability pressure. Berkshire added about 2.74 million Lennar shares as elevated mortgage rates weigh on builder valuations, after acquiring Taylor Morrison and investing in D.R. Horton and NVR. Follow the smart money, but always mind the price. x.com  x.com