LegendaryinvestorWarren Buffett is widely considered one of thegreatest investors of all time. It turns out Berkshire'sinvesting approach can be learned and repeated, evidenced by the mind-blowing returns one of his portfolio managers hasgenerated.
According to a Business Insider report,citing a Washington Post interview from late 2021, Ted Weschler, an investment manager atBerkshire Hathaway Inc (NYSE: BRK-A) (NYSE: BRK-B), grew his retirement account from $70,000 to $264 millionin less than30 years with a simple approach.
What To Know:The massive fortune was first uncovered in June 2021 when ProPublica got ahold of Weschler's tax returns. The Berkshire Hathaway portfolio manager then shared some details about how he managed to amass the wealth with reporterAllan Sloan.
"In a perfect world, nobody would know about this account," Weschler reportedly told Sloan in an email.
"But now that the number is out there, Im hopeful that some good can come of it by serving as a motivation for new workforce entrants to start saving and investing early."
Weschler definitely got an early start, and anyonehoping to replicate the feat needs to do the same.
The report indicates that Weschler startedanIRA in 1984 at the age of 22 and by the time he was 27, he had grown his account to$70,384by maxing out his contributions and doubling down via employer match.
He quit his job as a financial analyst and began his journey inprivate equity. Despite getting off to a rocky start with investments inContinental Healthand Intelogic, his new roleultimately led him to become a hedge fund manager by the turn of the century.
Related Link:You'll Never Believe the "Dumbest" Stock Warren Buffett Ever Bought
Speaking with Sloan, the portfolio manager noted that all losses are simply "unmonetized lessons."
Weschler reportedly generated compound annual returns of 22% for more than a decade before he joined Buffett's Berkshire Hathaway in 2012.
He noted that he used to focus on companies that he believed were inmuch better standingthan the market was pricing in.Weschler also said he spenta lot of his timestudying companies and industries in order to find important pieces of informationthemarket was missing.
For those who don't have the time, he recommendedfocusing on index funds like theVanguard S&P 500 ETF VOO . They can be very powerful tools for investors who can'tclosely follow individual investments, he said.
But his main advice is to keep allof your money in equities and to tune out anyonewho tellsyou to do something different.
"Start early, maximize the ?[employer]match, invest 100% in equities, and ignore all the other noise," Weschler said.
The Berkshire manager told the Washington Post he made all of his moneyby investing inpublicly available securities, suggesting anyone can do it with the right approach.
Buffett too was a beneficiary of anearlystart. The billionaire investorhas been piling money into equitiessince he was 11.If you don't have the early start advantage in front of you, onecan alwaysback the guys who arearguably the best to ever do it bybuying shares of Berkshire Hathaway. The fund has historicallyoutperformed the S&P 500.
Check This Out:Former Hedge Fund Manager Lists 3 Reasons Berkshire Hathaway Has 'Everything We Look For In A Stock'
BRK.B Price Action: Berkshire Hathaway has averaged an11.39% annual return over the last 10 years. It's up more than 215% since Weschler joined the firm in 2012.
It was in the evening that the bombing started to intensify.
Salah Jundia, his father and brothers huddled together in their home in Shujaiyya, just east of Gaza City, trying to work out what to do.
It was too risky for them to leave at night. There were a lot of them too. Extended family living across four storeys. They decided they would wait until after dawn prayers.
The explosion tore through the building just before 5am, collapsing one storey on to the next.
Image: The remains of Salah Jundia’s home in Shujaiyya, just east of Gaza City
Image: Salah Jundia
Jundia says he survived because pieces of bedroom furniture fell on top of him.
Then he looked for his father and brothers.
“I found one of them calling for help. I removed the rubble covering him with my hands. Then I saw another brother covered in rubble but he was dead,” he told Sky News.
Jundia added: “My father was also dead. My other brother was also dead. We got them out and that is when I saw that the whole building had collapsed.”
Over the next few hours, they scrambled to rescue who they could.
Image: One of the child victims of the attack on the home near the Gaza City
Image: Another one of child victims of the attack
An aunt and uncle and one of their children, Shaimaa. Uncle Imad and his son Mohammad. The bodies of Montasir and Mustaf.
Jundia says he could hear cries for help, but they were coming from deep in the rubble and were impossible to reach.
The rescue teams on site – civil defence they are called – did not have the kit to clear through three floors of 500 square metres, 30cm slabs of concrete.
Image: Rescuers drilling to try and reach the people trapped below the rubble
Image: Efforts to free those trapped beneath the rubble near the Gaza City
In the afternoon, Jundia says Israel’s Defence Forces (IDF) told rescue teams to leave as they would be resuming their bombardment.
Jundia buried the bodies he had managed to pull out but he knew 15 of his family members, 12 of them children, were still somewhere inside the rubble, still crying for help.
He made a desperate video appeal, begging the Red Cross and Arab countries to pressure Israel to grant access to the site. It was picked up on a few social media accounts.
Israel won’t allow heavy equipment into Gaza. No diggers or bulldozers, nor the fuel or generators to run them.
They say it will fall into Hamas’s hands.
It was a major sticking point during the ceasefire and it is a major issue now as the bombardment continues, given the fact that hundreds if not thousands of civilians might survive if there were the equipment to extract them.
Image: Members of Salah Jundia’s family left alive after the attack
Image: Salah Jundia and his surviving family
Civil defence trying to get to the Jundia family home over the next few days were halted because the IDF were in the vicinity. A family friend tried himself and was killed.
The footage that our camera teams have shot in Shujaiyya over the past two weeks shows how civil defence teams struggle to save those who are trapped and injured with the most rudimentary of equipment – plastering trowels, sledgehammers, ropes and small drills.
“The tight siege stops civil defence equipment from getting in,” says one.
They added: “So we are taking much longer to respond to these events. Time is a factor in getting these people out. So we call immediately for the necessary equipment to be allowed in for the civil defence to use.”
The IDF say they are investigating the circumstances around the Jundia family as a result of our enquiries.
In relation to the access of heavy equipment into Gaza, they say they work closely with international aid organisations to enable the delivery of humanitarian activities in accordance with international law.
The last contact Jundia had from beneath the rubble was a phone call from his uncle Ziad, three days after the strike.
“The line was open for 25 seconds then it went dead. We don’t know what happened. We tried to call, but there was no answer,” he says.
He and his family were displaced several times before they returned home to Shujaiyya – to Rafah in the south, then Khan Younis and Deir al-Balah.
Along the way, Jundia lost one brother and a nephew to Israeli bombs.
“We were happy and all the family came back. We went back to our house. It was damaged, but we improvised and we lived in it. We have nothing to do with the resistance. We are not interested in wars. But we have been gravely harmed,” he says.
The shock waves that came with the breakup of quarterback Nico Iamaleava and the Tennessee football program continue to reverberate.
Iamaleava’s case, which involved contract discussions, a skipped practice before the spring game and quick roster exit, has produced a flurry of action since Saturday, when coach Josh Heupel told reporters that “no one is bigger than” the program. It’s also a case study into the changing world of college football and has produced heated reaction, hyperbole and countless theories on how to fix the sport as the entire collegiate model awaits a judge’s blessing on how it will move forward.
But the most interesting aspects of the Iamaleava saga are still unresolved. His departure from Tennessee leaves a brand-name school and player at a compelling crossroads as both sides scurry to find answers for the 2025 season.
The early read after talking to sources in college football is that neither Tennessee nor Iamaleava is likely to have far better options for next season.
Iamaleava’s future is in the hands of his father, Nic, and a trusted family friend named Cordell Landers, a former Florida personnel staffer. Both are representing the quarterback in discussions with schools. Iamaleava’s next step is tied to a tricky spring transfer portal market where headwinds for a desirable landing place include awkward timing and the reputational damage from his Tennessee exit.
Finding a better football fit than Iamaleava had at Tennessee, where he was entering his third year, will be difficult. He’s coming off a season in which he threw for 2,616 yards with 19 touchdowns and five interceptions, and the Volunteers had the talent around him to again be one of college football’s top offenses. At his new school, however, he’ll need to win the starting job, learn the offense and be surrounded by a strong enough supporting cast to show significant enough improvement to stay on the radar of NFL teams. He also needs to win over the locker room.
And then there’s the money. Multiple sources have told ESPN that Iamaleava’s camp is seeking much more through the portal than the $4 million they hoped to earn with the Vols this year. The read after talking to sources, however, is that he’s unlikely to find a situation that gets him to that number.
“I think he has zero market,” said a general manager at a Power 4 school. “It will be an interesting test of how smart and disciplined colleges are in looking at him.”
There has not been a flood of immediate interest in Iamaleava from big brands. Schools with less-than-established quarterback situations such as Notre Dame, USC, North Carolina and UCF have not expressed significant interest, according to team sources. Big paydays come from leverage, and there appears to be little out there.
Sources caution that Iamaleava is talented enough that some market will form. He led the SEC’s ninth-best scoring offense in conference play and finished ninth in QBR (70.5) last season. There will be a place for a solid SEC starter with a five-star pedigree somewhere in the sport. But can he find a contender willing to invest millions and guarantee him a starting job?
SEC rules prohibit immediate eligibility for players who transfer within the conference during the spring portal window. That’s a limiting factor that cuts into the market. And the timing of the move has made coaches hesitant to go all-in.
Iamaleava’s camp strongly considered entering the transfer portal at the end of December, according to sources close to the quarterback. Had he made a move at that time, fresh off a 10-win season and College Football Playoff appearance, he likely would’ve been greeted with a strong list of options from teams desperate for an experienced arm and willing to pay top dollar, as Miami was for Georgia‘s Carson Beck in January.
USC and Notre Dame have been linked to Iamaleava, but sources at both schools have denied interest. The Trojans are moving forward with Jayden Maiava, who started their final four games last season. The Fighting Irish are in the middle of a three-man competition between Steve Angeli, CJ Carr and Kenny Minchey.
North Carolina is in the market for an upgrade at quarterback in the spring portal window, but sources expect the Tar Heels to focus their efforts on South Alabama‘s Gio Lopez when he officially enters the portal Wednesday.
UCF has an Iamaleava connection with quarterbacks coach McKenzie Milton, who worked with the quarterback during his stint as a Tennessee offensive analyst. But the Knights have already brought in Indiana transfer Tayven Jackson this offseason and are not expected to be in the mix.
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Iamaleava’s departure from Vols opens opportunities for others
With Nico Iamaleava leaving the Tennessee program and headed for the transfer portal, the quarterback job is up for grabs between Jake Merklinger and George MacIntyre
UCLA has been perceived as a contender for the Southern California native almost by default, despite adding veteran App State transfer Joey Aguilar in the winter portal window. It’s worth noting the Bruins previously held a commitment from Iamaleava’s younger brother, Madden, before he flipped to Arkansas in December, so there’s already a hurdle for his camp to overcome. Madden Iamaleava had been the local gem of UCLA coach DeShaun Foster’s first full recruiting class, but he and Long Beach Poly teammate Jace Brown bailed on the Bruins on signing day for Arkansas.
From the timing to the public nature of the exit to the attention he’d draw upon arrival, there’s a general vibe of hesitancy around the market. Essentially, coaches see a narrow path to success with the time frame, learning the offense and the pressure on Iamaleava to produce at the amount he’s expected to be paid.
“Absolutely zero interest,” another Power 4 general manager said.
Meanwhile, Tennessee will need to find an immediate and significant upgrade who can seamlessly transition and thrive in 2025. This would involve a transfer learning a new offense, winning over the team and having the arm talent to be an adequate maestro in Heupel’s up-tempo system. If this is going to be an established Power 4 starter, he’d also have to be OK walking away from a locker room, coaching staff and teammates who he’s bonded with for months ahead of the season.
“This is a terrible time,” said an industry source familiar with the quarterback market, with observations applying to both the quarterback and Tennessee. “You are setting yourself up to fail. You are so late. You get no spring ball, and all new wide receivers and a new system. The kids being paid a lot of money are already in the system, or they are four months into it.”
So far, Tennessee has appeared to have little luck in its search for talent. Sources told ESPN that at least one starting quarterback has received a raise thanks to an inquiry his agent received from Tennessee. Expect the agents of nearly every established starter in the ACC, Big Ten and Big 12 to get a call.
“I feel 100% confident that we have nothing to worry about,” one general manager of a Big 12 program said, “but how do you ever truly know?”
Dutch semiconductor equipment firm ASML on Wednesday missed on net bookings expectations, suggesting a potential slowdown in demand for its critical chipmaking machines.
ASML reported net bookings of 3.94 billion euros ($4.47 billion) for the first three months of 2025, versus a Reuters reported forecast of 4.89 billion euros.
Here’s how ASML did versus LSEG consensus estimates for the first quarter:
Net sales: 7.74 billion, against 7.8 billion euros expected
Net profit: 2.36 billion, versus 2.3 billion euros expected
In comments accompanying the results, ASML CEO Christophe Fouquet said that the demand outlook “remains strong” with artificial intelligence staying as a key driver. However, he added that “uncertainty with some of our customers” could take the company into the lower end of its full-year revenue guidance.
ASML is estimating 2025 revenue of between of 30 billion euros to 35 billion euros.
Fouquet said that tariffs are “creating a new uncertainty” both on a macroeconomic level and with respect to “our potential market demands.”
“So this is a dynamic I think we have to watch very carefully,” Fouquet said. “Now this being said, where we are today, we still see basically our revenue range for 2025 being between basically €30 and €35 billion.”
Global chip stocks have been fragile over the last two weeks amid worries about how U.S. President Donald Trump’s tariff plans will affect the semiconductor supply chain.
Last week, the U.S. administration announced smartphones, computers and semiconductors would be temporarily exempted from his so-called “reciprocal” duties on counterparties. But on Sunday, Trump and his top trade officials created confusion with comments that there would be no tariff “exception” for the electronics industry, and that these goods were instead moving to a different “bucket.”
On Tuesday, a federal government notice announced that the U.S. Commerce Department was conducting a national security investigation into imports of semiconductor technology and related downstream products. The probe will examine whether additional trade measures, including tariffs, are “necessary to protect national security.”