Munger Mode rating: 2 out of 5 — Sell. Our own rating from the research report below, on business quality first: moat durability and management, with price separating the top three.
Written in the voice and by the principles of Warren Buffett and Charlie Munger We have said for decades that our utility investments are "not a way to get rich, but a way to stay rich." Southern Company is the textbook illustration. It is a legal monopoly serving some of the best territory in America, sitting squarely in the path of the largest electricity demand boom since air conditioning. And yet, after studying the just-filed Form 10-Q for the quarter ended June 30, 2026, and the ten years of history behind it, we cannot call this a wonderful business.
Recent filings analysed: 8-K (2026-08-06), 8-K (2026-08-04), 8-K (2026-08-03), 10-Q (2026-07-30).
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