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Leigh Baldwin & Co.

112 Albany Street, Cazenovia, NY 13035 | Phone: (315) 655-2964 Toll Free: 1-800-659-8044

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Diamonds and Dogs

11/5/18

Warren Buffett is bullish on his company. Berkshire Hathaway (BRKB) is up 4% following better than expected earnings over the weekend. Berkshire reported earnings of $6.88 billion, double a year ago numbers of $3.44 billion when hurricane costs reduced profits in the insurance divisions. Insurance float now stands at $118 billion cash, an increase of $4 billion. In August, Warren Buffett followed through on his promise to buy back stock, spending a $1 billion. Hopefully, Warren was in the market buying back stock in October as well.

Sysco (SYY) the food company struggling due to food cost inflation. Sysco is down 9% to a five month low after missing earnings estimates by a penny as sales rose 3% to $15.22 billion. Gross margins decreased 7 basis points to 20.01% due to higher costs for meat, poultry and produce categories. Transportation costs are also rising and unfortunately management expects these higher costs to persist.

Diamonds and Dogs market commentary is a journal of daily observations on anything that happens to be of interest to our author. Obviously, our primary focus is the stock market and world economic events, but for this page we have no defined topics. We want this page to be dedicated to the interests, concerns, and possibly to the financial gain of our clients and friends. All comments contained herein are for informational purposes only, and should not be considered as a solicitation to buy or sell any security. The firm does not guarantee the accuracy or completeness of the information or make any warranties regarding results from it's usage.