Berkshire Left Apple Alone While Cleaning Out the Combs Book
The loud trade was Alphabet, but the quiet tell was Apple standing still while the side book got cleaned out.
Theo Kaplan
Bureau: San Francisco
Cerebras Is a Customer-Concentration Swap, Not Just an IPO Pop
Cerebras is priced less like a chipmaker than like a list of who will buy the capacity.
Lionsgate's Earnings Week Is Now an Activist-Positioning Story
The date is earnings, not an investor day, and the position is already on the tape.
SpaceX's Public S-1 Window Opens Into a Worse Market
Until the public filing appears, the SpaceX story is the window and the market it opens into.
Apple Unchanged Is the Berkshire Line That Did Not Shout
The trade everyone noticed matters less without the position that did not move.
Delta Is Still the Quiet Air-Travel Bet in Berkshire's Filing
The airline bet is smaller than Alphabet and more revealing than the headline.
Macy's Small Berkshire Position Is the Retail Footnote With a Date
The Macy's line is a footnote, but it is a dated footnote.
Pfizer's Zero-Buyback Year Still Holds the Disciplined Cohort
In a week of capital motion, Pfizer's restraint still explains the cohort.