Nothing beats a Jet2 holiday, except I guess not booking a Jet2 holiday

I've written more than a few obits — including several people featured in "Barbarians at the Gate" — but don't know that I've gotten as poignant a kicker quote as this, for the legendary deal lawyer Dick Beattie (also a character in "Barbarians").

RT @dealbook: In today’s DealBook: @m_delamerced examines the costs of Trump’s latest hit to Harvard; Trump antitrust cops take aim at Blac….

Fascinating analysis by @rajivatbarnard on prediction markets and the papal election. (He correctly predicted to me for @dealbook that information leakage probably wouldn't come into play: .

• And he taught generations of investors how to, well, invest. @maureenmfarrell @LaurenSHirsch and I dug into why Buffett mattered to so many for @nytimes .

• Value investing predated Buffett. But no one had done it for as long, or as successfully, as him.• Berkshire is truly a unique creation and wealth-generation machine.• Buffett transcended business fame for actual fame, and that made Wall Street, Washington pay him heed.

Capitalists the world over are still reckoning with Warren Buffett finally announcing that he would seek to step down as Berkshire Hathaway's CEO. But why was this so affecting — to both average investors and moguls like Bill Ackman and Jamie Dimon? 🧵.

Well, there's obviously a different story now! Buffett wants to step down as Berkshire's CEO at year end and be replaced by his heir apparent, Greg Abel. Read more @nytimes.

Worth noting, however: As my colleagues @Fahrenthold and others have noted: DOGE has drastically trimmed its estimated cost savings, to $150 billion or so, and its numbers are still full of errors

Asked about DOGE's impact at the Berkshire annual meeting, Buffett does a dodge and focuses on a longtime bugbear, "unsustainable" government spending:. "We’re operating at a fiscal deficit that is unsustainable," he said. Fixing that is a job Buffett says he doens't want.

Read more from me here @nytimes .

BUT, Buffett played down tariff-related volatility: "It's really nothing".

In case it wasn't clear: I'm following the Berkshire Hathaway annual meeting, where Warren Buffett criticized President Trump's trade fight:. “Trade should not be a weapon” . “I don’t think it’s right and I don’t think it’s wise.” 🧵.

RT @andrewrsorkin: Investment advice from Warren Buffett. If you can talk to a CEO, ask them this question: If you were stuck on a dessert….

Fascinating how an answer about insurance for autonomous vehicles at Berkshire Hathaway's annual meeting turns into Warren Buffett riffing on Einstein and "we don’t necessarily have perfect people leading some of the nine countries" that can destroy the world with nukes.

😬 When you get to ask a question at the Berkshire Hathaway annual meeting, and you confused BRKA with another Berkshire.

Read more in @dealbook

Each of them is getting billions to invest in various opportunities: private equity, private credit, venture capital, AI, etc. But MC is also getting another shareholder, further validating its own business. Existing backers include Silver Rock and Mike Milken's family office.

For most of its history, Mubadala Capital, which manages other LPs' money, has been backed by its SWF parent. But it has recently struck deals to bring on external shareholders. Enter TWG Global, which struck a complex partnership and is buying a stake in MC.

ICYMI: I reported on Mubadala Capital — the $30bn asset manager affiliated with the $300bn sovereign wealth fund Mubadala — forming a multibillion-dollar partnership with TWG Global, of Guggenheim, LA Dodgers and Chelsea FC fame. Here's why it's interesting 🧵.