Warren Buffett announced Monday that his holding company, Berkshire Hathaway, purchased a substantial supply of the nation’s horse and buggies. In a deal valued at $15.2 billion, Buffet purchased approximately 500,000 horse and buggies.
“This is a tremendous value investment for Berkshire,” Buffett said through his nurse. “Horses will always play a critical role in the transportation of people and goods.”
When asked if Berkshire’s horses will compete with ride hailing services like Uber, Buffett appeared confused. “I don’t know what those fancy internet companies are doing these days. We’ll just worry about ourselves,” he said.
While it appears that Berkshire has classified its BNSF railroad as a play on the future of transportation, the horse and buggy business should have a more immediate impact on the bottom line.
Wall Street analysts noted that synergies with its insurance businesses could help Berkshire reap huge rewards from the acquisition.
Dave Portnoy, a noted FinTwit analyst and trading bro, said that Buffett “is a sad old man who’s 75 years behind.” Portnoy also added that he will pay his followers $1,000 for every Berkshire horse they can drown in the ocean.