When I buy and sell stocks, I do it through a brokerage, so the stocks aren’t owned by me directly. This creates a single point of failure for me if the brokerage goes under for some reason. I can’t imagine with billions of dollars you would tolerate that kind of single failure point, so how do these guys do it?
In: Economics
Well, there are two levels of this.
The first is Berkshire Hathaway Inc. This publicly traded multinational conglomerate holding company is arguably “run” by Buffett. In actuality there are layers of managers who issue the trading orders to the actual workers, but this company trades on many exchanges.
The second is Warren Buffett’s personal money. Much of this is in BH, of course, but it’s likely distributed across a number of firms and accounts, for single point of failure reasons like you mention. There are also a lot of complex tax issues going on, and an army of accountant and lawyer employees making sure that’s done correctly. This might be run as a family office (a special sort of hedge fund like trading operation) but a quick Google doesn’t find a anything on this family office.
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