Berkshire Hathaway earnings were up 86 per cent in the second quarter, compared with a 20 per cent gain for the S&P 500 in the same period.

The S&P 500 measures the stock performance of 500 large companies listed on stock exchanges in the United States.

This is a long-term trend for Berkshire founder and CEO Warren Buffett, who is looking far from ‘washed up’ despite turning 90 years old this week.

A dollar invested in Berkshire in 1964 would be worth $US27,373 ($37,242) today, versus $US198 had that same dollar been invested in the S&P 500, says McKinsey & Co partner Tim Koller:

Timeline of Warren Buffet’s career. Source: McKinsey & Company.

Buffett is a ‘conservative’ investor, focusing on low-risk businesses that have steady cash flows and will generate high returns.

“Yes, volatile times call for quick responses and fast action,” Koller says.

“But as Warren Buffett has shown, there are also significant advantages to keeping the long term in mind, as well.

“Specifically, there is value in consistency, caution, and patience and in simply trusting the math—in good times and bad.”

 

To Markets…

The ASX is bouncing back from Tuesday’s sharp drop after Wall Street rose overnight.

The benchmark ASX 200 was up 86 points, or 1.45 per cent, to 6,039.8 by ~12pm AEST.

 

SMALL CAP WINNERS

Here are the best performing ASX small cap stocks at 12pm on Wednesday September 2:

Swipe or scroll to reveal the full table. Click headings to sort.

CODE COMPANY PRICE CHANGE MARKET CAP
KIS King Island Scheelite 0.099 80.00% $25.12M
GLA Gladiator Resources 0.003 50.00% $4.7M
VKA Viking Mines 0.016 45.45% $3.5M
SRZ Stellar Resources 0.024 41.18% $7.5M
WBE Whitebark Energy 0.004 33.33% $12.2M
MIO Macarthur Minerals 0.65 30.00% $53.6M
WMX Wiluna Mining 1.54 25.61% $123.6M
JHL Jayex Healthcare 0.038 26.67% $5.3M
MTB Mount Burgess Mining 0.011 22.22% $6.6M
RHY Rhythm Biosciences 0.125 19.05% $14.5M
SGQ St George Mining 0.115 16.16% $56.4M
TRT Todd River Resources 0.047 14.63% $14.4M
EX1 Exopharm 0.36 14.29% $34.4M
ASP Aspermont 0.008 14.29% $18.2M
YOW Yowie Group 0.04 14.29% $7.6M
PAK Pacific American Holdings 0.017 13.33% $4.2M
SCN Scorpion Minerals 0.085 13.33% $15.5M
BDG Black Dragon Gold 0.13 13.04% $15.3M
CDV Cardinal Resources 0.92 26.21% $481.3M
DEG De Grey Mining 1.3 18.20% $1.53B

 

Near-term tungsten miner King Island Scheelite (ASX:KIS) has signed a big offtake deal.

Gold producer Wiluna Mining (ASX:WMX) hit grades up to 880g/t in drilling at its namesake operation in WA.

Tech company Brainchip Holdings (ASX:BRN) is partnering up with Texas-based VORAGO Technologies as part of a new development agreement.

And high flying gold explorer De Grey Mining (ASX:DEG) has made a new discovery at the mammoth Hemi project in the Pilbara.

 

SMALL CAP LOSERS

Here are the worst performing ASX small cap stocks at 12pm on Wednesday September 2:

Swipe or scroll to reveal the full table. Click headings to sort.

CODE COMPANY PRICE CHANGE MARKET CAP
XPE XPED 0.001 -50.00% $1.8M
TGO Trimantium Growthops 0.06 -25.00% $12.2M
CFO Cfoam 0.022 -24.14% $5.6M
CGB Cann Global 0.004 -20.00% $20.1M
PWN Parkway Minerals 0.006 -18.75% $13.7M
Z1P Zip Co 6.67 -16.52% $3.2B
TGN Tungsten Mining 0.125 -16.67% $115.6M
RLC Reedy Lagoon 0.011 -15.38% $6.1M
SBR Sabre Resources 0.006 -14.29% $8.8M
WWG Wiseway 0.125 -13.79% $20.4M
KPE Kina Petroleum 0.91 -13.33% $13.5M
SZL Sezzle 7.59 -13.36% $1.7B
CNJ Conico 0.014 -12.50% $7.1M
XTC Xantippe Resources 0.004 -12.50% $16.3M
SHK Stone Resources Australia 0.021 -12.50% $20.1M
OPY Openpay 3.52 -12.22% $432.6M
TIP Teaminvest Private Group 0.69 -12.10% $87.3M

 

The biggest losers in early trade are buy now, pay later (BNPL) stocks, which continue to nose dive following yesterday’s news that PayPal will look to offer pay later services in the US.