Click here for the PDF: The Monthly November 2025
With this commentary, we plan to communicate with you every month about our thoughts on the markets, some snapshots of metrics, a section on behavioral investing and finally an update on MacNicol & Associates Asset Management (MAAM). We hope you enjoy this information, and it allows you to better understand what we see going on in the marketplace.
“What the ocean was to the child, the periodic table is to chemistry.”
— Karl Barry Sharpless
The Warren Buffett Indicator…
Warren Buffett’s Berkshire Hathaway recently filed its form 10-Q for the quarter ending September 30, 2025, with the United States Securities and Exchange Commission1. You can go to the commission’s website and type in Berkshire Hathaway into the search bar to find the file yourself. If you are having trouble finding it [the internet can be a perilous place] you should be viewing a page that looks like this ↓ and the filing, you’ll want to click open as the one I outlined in a red rectangle with rounded edges…
