🎙️ Liquid Gold

In 2022, when Ruth Gottesman’s husband died, he left her an enormous portfolio of Berkshire Hathaway stock with instructions to “do whatever you think is right with it.”

📚 Gottesman, 93, decided what to do: She donated $1 billion to the Albert Einstein College of Medicine in the Bronx, where she once taught. The money will be used to make tuition free for all students in perpetuity. Half of the students there graduate with over $200,000 in debt.

“We have terrific medical students, but this will open it up for many other students whose economic status is such that they wouldn’t even think about going to medical school,” she said.

Get this: because the college is a nonprofit, it can sell all the Berkshire shares without tax liability.

🥃 Today, we'll discuss an alternative asset class: investing in bourbon, and more, in just 5 minutes to read.

— Matthew

Quote of the Day

"People often say there’s lots of uncertainty, but when was there ever certainty in the markets, the economy, or the future? I’m just trying to understand the present."

— Bill Miller

What Else We’re Into

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📖 READ: When and why Berkshire Hathaway could pay a dividend