“We’re not stock pickers, we’re business pickers.” Warren Buffett’s most recent letter reminded investors of the discipline he and his investing team at Berkshire-Hathaway apply to their work each day. And while there’s nearly $150 billion in cash on the balance sheet, Buffett still hasn’t pulled out his famed “elephant gun” just yet. (0:25) John Rotonti discusses: - His top takeaway from the letter - Buffett’s praise for Apple CEO Tim Cook - The case for Berkshire-Hathaway buying semiconductor design company Arm Limited (13:00) Dylan Lewis and Jason Hall discuss two unexpected companies that are winning due to higher inflation. Stocks discussed: BRK, AAPL, NVDA, F, GM, TSLA, MA, BIP, SBUX Host: Chris Hill Guest: John Rotonti, Dylan Lewis, Jason Hall Producer: Ricky Mulvey Engineer: Rick Engdahl Learn more about your ad choices. Visit megaphone.fm/adchoices

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“What did the council decide on item 42?” — answered with the speaker and the moment.