Berkshire Hathaway Inc. BRK-B

Berkshire is still the financial Fort Knox it was in Buffett’s hey-day: monopoly-like rail & utility assets, oceans of cheap insurance float earning fat T-Bill yields and a war chest big enough to buy half of Wall Street if things get ugly. Legal fires smoulder in Oregon and climate critics howl, but the cash keeps gushing. With the stock priced at a teenager-level P/E and a one-third discount to our base-case value, long-term investors get both resilience and upside without needing a crystal ball.