Welcome to Money for the rest of us. This is a personal finance show on money, how it works, how to invest it, and how to live without worrying about it.

I'm your host David Stein. Today is episode 469. It's titled,

Which will be a better investment?

Berkshire Hathaway or utility stocks.

Five years ago in episode 242,

we released an episode titled,

Should you let Warren Buffett manage your money.

In the episode we evaluated Berkshire Hathaway as we would an outside money manager that we were

going to hire. I spent over 15 years as an

asset manager but also co-led a research group that researched the money managers

long-only stock managers, hedge funds, and other asset classes.

Our process focused on the people, who's making the portfolio decisions, what is their process, and what has the performance been.

Back in 2019 when we released that episode, Berkshire Hathaway's B-class shares were selling for $200.

One could have effectively Warren Buffett, Charlie Munger,

and the other leaders of Berkshire Hathaway,

manage your money.

Every February, Berkshire Hathaway releases their annual letter that Warren

Buffett writes. In that February 2019 episode we reference the 2018 annual

letter in which Buffett wrote with Ajit Jane and Greg Abel running operations

a great collection of businesses a Niagara of cash generation, a cadre of talented managers, and a rock solid culture,

your company is in good shape for whatever the future brings.

In that annual letter, Buffett talked about how he and his

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