Posted 2/1/2024, 8:23:17 PM
Buffett Praises Ferrari's Business Despite Not Investing; F1's Hamilton Reportedly Leaving Mercedes for Ferrari in 2025
- Warren Buffett said Ferrari is in a "special place" though Berkshire Hathaway hasn't invested in the carmaker
- Ferrari reported a 34% profit increase in 2022, has order books filled through 2025, and is nearing a $100B market valuation
- Buffett and Munger have steered clear of most automakers, seeing the industry as too competitive
- An exception was BYD, the Chinese EV maker Munger calls Berkshire's best investment
- Legendary F1 driver Lewis Hamilton will reportedly leave Mercedes and join Ferrari in 2025