==== 2024-05-15 ==== Event summary: * Berkshire's mystery stock is Chubb. * It now owns 6.4% of it (25.9 million shares out of 406.06 million shares). * The stake is worth ~$6.6 bln. * = 25.9 million shares * $252.97 per share * where $252.97 is the closing price of CB on 2024-05-15 Notes from https://www.barrons.com/amp/articles/berkshire-hathaway-mystery-stock-warren-buffett-fe2ac440 * Berkshire * Bought 25.9 million shares of Chubb * Held about 8 million shares of Chubb at the end of Q3 2023 * Held about 20 million shares of Chubb at the end of year 2023 * operates the world’s largest P&C insurance business including auto insurer Geico * Buffett * admires Chubb * generally likes to pay no more than 15 times forward earnings for a stock * Chubb (ticker: CB) * is trading at about 12 times projected 2024 earnings * is an industry leader * headed by CEO Evan Greenberg * son of Maurice “Hank” Greenberg * is viewed as one of the best run big P&C insurers * has ample underwriting margins * is best known for its high-end Masterpiece homeowners insurance popular with wealthy Americans * Maurice “Hank” Greenberg * is an insurance legend * is the former boss of AIG From https://ycharts.com/companies/CB/shares_outstanding * CB shares outstanding as of 2024-04-19 = 406.06 M