Greg Abel Will Manage the Lion's Share of Berkshire's Stock Portfolio, Including Its War Chest of Cash

 

# Greg Abel Will Manage the Lion's Share of Berkshire's Stock Portfolio, Including Its War Chest of Cash

**Published: March 2, 2026**

For decades, the question of who would succeed Warren Buffett has been the most closely watched succession drama in corporate America. We knew Greg Abel would take over as CEO. What we didn't know—until now—is exactly how much control he'd have over the legendary Berkshire investment portfolio.

The answer, it turns out, is: almost all of it.

In his first annual shareholder letter since taking the helm on January 1, Abel confirmed that he will personally oversee the "lion's share" of Berkshire's massive equity portfolio . This includes the strategic deployment of the company's staggering $373 billion cash hoard—the largest in Berkshire's history .

Let me walk you through what this means for Berkshire's future, which stocks are "untouchable," where the cash might go, and why this matters for anyone who owns Berkshire shares or simply follows the greatest investing story of our time.

## The Short Version: What You Need to Know

**The big news:** Greg Abel confirmed he will manage the vast majority of Berkshire's $318+ billion stock portfolio himself, with investment manager Ted Weschler continuing to oversee about 6% .

**The "Forever Stocks":** Abel identified four companies—**Apple, American Express, Coca-Cola, and Moody's**—as "core holdings" that will remain largely untouched for decades . These represent about half of Berkshire's equity portfolio .

**The cash pile:** Berkshire ended 2025 with $373.3 billion in cash and Treasuries—down slightly from the record $381.7 billion in Q3 but still enormous . Abel insists this isn't a retreat from investing but "strategic reserves" to capitalize on opportunities .

**The Japan factor:** Berkshire's stakes in five Japanese trading houses are now considered "comparable to our major U.S. holdings in importance and long-term value-creation opportunity" .

**The Buffett role:** Warren Buffett remains chairman and will be in the office "five days a week," available for consultation on major decisions .

## Part 1: Who's Really Running the Portfolio Now?

Let's start with the most fundamental question: who's actually making the investment decisions?

For years, speculation swirled about whether Abel—whose background is in energy operations, not stock picking—would oversee the portfolio or delegate it to Berkshire's two investment managers, Todd Combs and Ted Weschler. Combs departed for JPMorgan in December 2025, simplifying the picture .

In his letter, Abel was refreshingly direct. He confirmed that the "final responsibility" for capital allocation and stock investments "rests with me as CEO" . He will manage the overwhelming majority of the portfolio himself, while Weschler continues to handle about 6%—roughly the same percentage he's managed for years .

**What this means:** Abel is not just a caretaker. He's stepping directly into Buffett's shoes as the chief investment officer of one of the largest and most-watched portfolios on earth. With no prior track record in public stock investing, he's now responsible for deploying hundreds of billions of dollars.

**The anti-bureaucracy message:** Abel emphasized that this structure—one person with final say—preserves the "anti-bureaucratic culture" Buffett built. No investment committees. No consensus-driven decision-making. Just clear accountability .

## Part 2: The 'Forever Stocks' That Won't Be Touched

One of the most important signals in Abel's letter was his designation of four companies as "core holdings" that will remain largely untouched for the long term .

### The Fab Four

**Table 1: Berkshire's "Core Holdings" Under Abel**

| **Company** | **Ticker** | **Year First Acquired** | **Berkshire's Cost Basis** | **Recent Price** | **Yield on Cost** |

| :--- | :--- | :--- | :--- | :--- | :--- |

| **Coca-Cola** | KO | 1988 | ~$3.25/share | ~$81.56 | ~63% |

| **American Express** | AXP | 1991 | ~$8.49/share | ~$264 | ~39% |

| **Moody's** | MCO | 2000 | Undisclosed | — | — |

| **Apple** | AAPL | 2016 | ~$27/share | ~$264 | ~9% |

*Sources: *

Abel described these companies as ones Berkshire is "fully comfortable with, deeply respects their leadership, and expects to compound for decades" . He explicitly stated that the strategy will be to "keep limited operations" on these positions, meaning minimal buying or selling .

**The Apple story is particularly significant.** Buffett spent the last two years trimming the Apple stake by about 80% from its peak, raising questions about whether Berkshire saw trouble ahead . Abel's letter puts those questions to rest: the sales are over. Apple is now officially in the "forever" category.

### What's Missing: Bank of America and Chevron

Notice who isn't on that list? **Bank of America** and **Chevron**—both top-five holdings—were conspicuously absent from the core holdings .

Abel described positions in "a handful of other companies" as "more dynamic," meaning they could be adjusted based on valuation and opportunity . This leaves the door open for further trimming of BofA (which Buffett has already cut by about half over 18 months) and Chevron .

**The valuation argument:** Analysts note that BofA now trades at a 31% premium to book value, compared to the 62% discount Buffett got in 2011. Apple's P/E has tripled since Buffett's first purchases . Abel, like Buffett, is a value investor at heart. If prices get too high, he'll sell.

## Part 3: The $373 Billion Question

Now for the part everyone's really wondering about: what's Abel going to do with all that cash?

### The Size of the War Chest

Berkshire ended 2025 with **$373.3 billion** in cash and U.S. Treasury securities . That's down slightly from the record $381.7 billion in Q3, but still massive .

**Table 2: Berkshire's Cash Hoard Over Time**

| **Period** | **Cash & Equivalents** | **Change** |

| :--- | :--- | :--- |

| Q3 2025 | $381.7 billion (record) | — |

| Q4 2025 | $373.3 billion | -2.1% |

| Full Year 2025 | $373.3 billion | +11.7% vs. 2024 |

*Source: *

For context, that cash pile alone is larger than the market caps of 99% of S&P 500 companies.

### What Abel Says About It

Addressing the skeptics who've long wondered why Berkshire sits on so much cash, Abel wrote: "Many times in Berkshire's history, some observers have suggested that our substantial cash position signals a retreat from investing. It does not" .

Instead, he frames it as "strategic reserves" to capitalize on opportunities when they arise . This is classic Buffett doctrine: you can't buy bargains if you don't have dry powder when the market panics.

### Where Might the Cash Go?

Based on Abel's letter and Berkshire's recent moves, here are the likely targets:

**1. More Japanese trading companies.** Abel explicitly elevated Berkshire's stakes in Itochu, Marubeni, Mitsubishi, Mitsui, and Sumitomo to "comparable to our major U.S. holdings in importance" . Berkshire has already increased these stakes to between 8.5% and 10.2%, and the companies have agreed to relax a prior 10% ownership cap . Expect more buying here.

**2. Acquisitions.** Abel has operational experience running Berkshire Hathaway Energy. He may be more inclined than Buffett toward bolt-on acquisitions in the energy and utility space.

**3. Buybacks.** Berkshire didn't repurchase any stock in Q4, extending that streak to six quarters . But Abel called buybacks an "important capital-allocation option." If Berkshire's stock price weakens, he could step in.

**4. New "core" positions.** The current core four represent about half the portfolio. There's room for more if Abel finds the right opportunity at the right price.

## Part 4: The Japan Strategy—A Surprising Priority

One of the most interesting revelations in Abel's letter was the elevation of Berkshire's Japanese investments to near-equal status with its U.S. holdings.

Berkshire's five Japanese trading companies—Itochu, Marubeni, Mitsubishi, Mitsui, and Sumitomo—now have a total market value of about **$35.4 billion** .

Abel wrote that "the same methodology in choosing investments in American companies is used in finding opportunities in Japan, which we view as comparable to our major U.S. holdings in importance and long-term value-creation opportunity" .

**Why this matters:** These aren't just passive investments. Berkshire has been steadily increasing its stakes, and Buffett previously negotiated an agreement with the companies to raise the ownership cap . This suggests a long-term commitment that could extend for decades.

For investors, this is a signal that Berkshire sees opportunity beyond U.S. borders—and that Abel intends to continue that strategy.

## Part 5: What Stays the Same—And What Changes

### The Buffett Framework

Abel opened his letter with a tribute: "Warren Buffett is arguably the greatest investor of all time, with generations benefiting from his investment acumen" .

He emphasized that the way decisions are made, and how capital is allocated, will continue on the path set by Buffett "into perpetuity" . That means:

- No cash dividends as long as retained earnings can create more value 

- A focus on a small number of high-quality businesses

- Patience and discipline in deploying capital

### The Operational Shift

Where things may change is in the *source* of future value creation. For decades, Berkshire's legendary stock picks powered its growth. But with the core holdings now locked in and new investments likely to be more opportunistic, some analysts suggest that stock picking may no longer be Berkshire's primary engine .

Instead, the operating businesses—railroads, utilities, manufacturing, and the recently expanded energy portfolio—may drive returns going forward. Abel's operational background positions him well to oversee these businesses, even as he takes on the investing role.

### The Buffett Safety Net

Finally, Abel reminded shareholders that Buffett isn't disappearing. The 95-year-old will still be in the office "five days a week" as chairman, and will remain "available for consultation" on major capital allocation decisions, including stock investments .

For investors nervous about the transition, that's a reassuring safety net.

## Frequently Asked Questions

**Q: Will Greg Abel manage Berkshire's stock portfolio himself?**

A: Yes. Abel confirmed he will oversee the "lion's share" of the portfolio, with Ted Weschler continuing to manage about 6%. The final responsibility for investment decisions rests with Abel as CEO .

**Q: Which stocks are now considered "core holdings"?**

A: Abel designated four companies as core holdings that will remain largely untouched: Apple, American Express, Coca-Cola, and Moody's. These represent about half of Berkshire's equity portfolio .

**Q: What happened to Bank of America and Chevron?**

A: They're not in the core group. Abel described positions in "a handful of other companies" as "more dynamic," meaning they could be adjusted. This suggests further trimming is possible .

**Q: How much cash does Berkshire have, and what will Abel do with it?**

A: Berkshire ended 2025 with $373.3 billion in cash and Treasuries. Abel says it's not a retreat from investing but "strategic reserves" to capitalize on opportunities. Likely targets include more Japanese trading companies, acquisitions, and potentially buybacks .

**Q: What's the deal with Berkshire's Japanese investments?**

A: Berkshire owns stakes in five Japanese trading houses totaling about $35.4 billion. Abel elevated them to "comparable to our major U.S. holdings in importance," suggesting more buying ahead .

**Q: Is Warren Buffett still involved?**

A: Yes. Buffett remains chairman and will be in the office "five days a week," available for consultation on major decisions .

**Q: Will Berkshire pay a dividend?**

A: No. Abel reiterated that as long as retained earnings can create more shareholder value, Berkshire will not issue cash dividends .

## The Bottom Line

Here's what I keep coming back to.

Greg Abel just took on one of the most scrutinized jobs in investing. He's now responsible for deploying hundreds of billions of dollars in capital, managing a portfolio that includes some of the most iconic companies in the world, and doing it all while stepping out of the longest shadow in financial history.

**His first letter suggests he gets it.** He's not trying to be Buffett. He's honoring the principles—discipline, patience, focus on quality—while putting his own stamp on execution. The core holdings are locked in. The cash is waiting for opportunity. The Japanese investments signal a global outlook. And Buffett is still down the hall.

**For Berkshire shareholders,** this is about as good a transition as anyone could have hoped. Abel has operational chops, a clear strategy, and the humility to lean on Buffett's counsel while taking responsibility for decisions.

**For the rest of us,** it's a reminder that the principles that built Berkshire—buy great companies, hold them forever, keep dry powder for opportunities—don't depend on any one person. They're embedded in the culture.

The post-Buffett era has begun. And so far, it looks a lot like the Buffett era—which is exactly what investors wanted.

---

*Got thoughts on the Berkshire transition? Investing in the stock? Drop a comment and let me know.*

What's at Stake for Oil Markets as Trump Strikes Iran

 

# What's at Stake for Oil Markets as Trump Strikes Iran

**Published: March 2, 2026**

You know that moment when you're watching the news, and you realize something happening halfway around the world is about to hit you right in the wallet?

That's where we are right now.

The U.S.-led strikes on Iran, and Tehran's retaliatory missile attacks across the Persian Gulf, have pushed global energy markets into uncharted territory. Oil prices had already climbed more than 20% since the beginning of 2026, with Brent crude hovering around $73 a barrel . But that was before the real escalation. That was before the Strait of Hormuz—the world's most important oil chokepoint—became a war zone.

Let me walk you through exactly what's at stake for oil markets, how high prices could go, and what this means for Americans filling up their tanks and planning their budgets.

## The Short Version: What You Need to Know

**The immediate impact:** Oil prices have already surged, with Brent crude up about 20% this year to around $73 per barrel . But analysts warn this is just the beginning.

**The Strait of Hormuz factor:** About **20% of the world's oil supply**—roughly 20 million barrels per day—passes through this narrow waterway . Iran's Revolutionary Guard Corps announced its closure shortly after the strikes began, and major oil companies and trading firms have suspended shipments .

**The price scenarios:**

- **Contained conflict:** Even if the fighting stays limited, analysts expect Brent to hit **$80 per barrel** 

- **Protracted disruption:** If the Strait remains threatened or closed, oil could surge to **$100 per barrel** 

- **Worst-case escalation:** A full-blown regional war with sustained supply disruptions could drive prices into **triple digits**

**The political stakes:** President Trump is betting that U.S. strategic reserves can offset price spikes, but higher gasoline prices ahead of November's midterm elections could be politically devastating . His approval ratings are already struggling .

**What this means for you:** Higher gas prices, potential inflation pressures, and possible delays for interest rate cuts the Fed had been considering .

## The Strait of Hormuz: Why This Small Waterway Matters So Much

Let's start with geography, because understanding the Strait of Hormuz is key to understanding everything else.

This narrow channel between Iran and Oman is the only sea passage from the Persian Gulf to the open ocean. That means every barrel of oil from Saudi Arabia, Iran, Iraq, Kuwait, Qatar, and the UAE must pass through it.

**Table 1: The Strait of Hormuz by the Numbers**

| **Metric** | **Value** | **Source** |

| :--- | :--- | :--- |

| Share of global oil supply | 20% |  |

| Barrels per day | ~20 million |  |

| Share of global LNG trade | 20% |  |

| Alternative pipeline capacity | 2.6 million bpd max |  |

| Current risk premium in prices | $5-6 per barrel |  |

According to maritime analytics site Marine Tracker, traffic through the artery has plummeted, with a slew of oil tankers turning around or being stopped at the strait . Local Iranian media reported that the Revolutionary Guards had warned "various ships" that the strait was currently unsafe to navigate due to the attacks and therefore effectively closed . Washington also warned ships about safety risks in the Gulf .

**Jakob Larsen**, safety chief at shipping association BIMCO, noted that U.S. air and navy assets could re-establish shipping security if Washington chose to do so . But that would mean a sustained military commitment in the region.

**The bypass problem:** Only Saudi Arabia and the UAE have pipelines that can bypass the strait, and their combined capacity is just **2.6 million barrels per day** —a fraction of the 20 million that normally flows through . If the strait stays closed, most of that oil simply can't get out.

## The Price Scenarios: How High Could Oil Go?

Analysts across major financial institutions are running the numbers, and the range of outcomes is unusually wide.

**Table 2: Oil Price Scenarios Under Different Conflict Outcomes**

| **Scenario** | **Brent Price** | **Conditions** |

| :--- | :--- | :--- |

| Pre-conflict baseline | $65-70 | Normal market conditions |

| Current situation | $73 | With $5-6 risk premium  |

| Contained conflict | $80 | Even if fighting limited, supply uncertainty persists  |

| Sustained Hormuz threat | $90-100 | Shipping disrupted, insurance premiums spike |

| Full Hormuz closure | $100+ | Physical supply cuts of 5-10+ million bpd |

**William Jackson**, chief economist for emerging markets at Capital Economics, predicts that even if the conflict is brought under control, Brent crude oil prices could still rise to around **$80 per barrel** —equivalent to the peak recorded during the 12-day conflict in Iran last June .

If the conflict drags on and affects supply, oil prices could surge to around **$100 a barrel** . This could then push global inflation up by 0.6-0.7 percentage points, he stated in a report .

**Kirill Dmitriev**, an economic adviser with direct knowledge of market dynamics, put it more starkly on X: "$100+ oil per barrel soon" .

## The Iranian Supply Factor

Iran itself is a significant producer, though not as dominant as its Gulf neighbors.

**Table 3: Iran's Oil Profile**

| **Metric** | **Value** |

| :--- | :--- |

| Current production | ~3.1-3.3 million bpd  |

| Share of global output | ~3% |

| Global production rank | 4th in OPEC  |

| Exports | 1.3-1.5 million bpd |

| Destination of exports | 80% to China |

| Production cost | As low as $10 per barrel |

*Sources: *

Iran's oil industry is in far better shape than Venezuela's, another country hit by years of U.S. sanctions . With production costs as low as $10 per barrel, Iranian crude is highly profitable—and Iran gains disproportionately from high global prices .

But Iranian supply is already constrained by sanctions. Before the conflict, Iran was exporting about 1.3-1.5 million barrels per day, with more than 80% going to Chinese refineries . Any disruption to those exports would hit China hard.

**The infrastructure risk:** UBS warned that infrastructure damage in the region could threaten roughly **3.3 million barrels per day of Iranian supply** . That's essentially Iran's entire export capacity.

## The Political Calculations: Trump's Gamble

This is where energy markets meet electoral politics.

President Trump ordered these strikes knowing full well the economic risks. Russian analyst Andrey Koshkin laid out the calculation: "Trump weighed the reaction inside the United States and counted on a positive image that he was supposed to gain from a possible 'small victorious war' in Iran" .

But there's not much time until the midterm congressional elections in November 2026. "If gasoline prices rise, it is not yet clear how all this will end for Trump," Koshkin noted .

The president's approval ratings are already struggling—hovering around 36%, trailing significantly behind the 46% rating the Obama administration held at a similar juncture . High energy costs are a significant political liability .

**Trump's insurance policy:** The U.S. Strategic Petroleum Reserve holds about 415 million barrels, covering roughly 200 days of net imports . Koshkin noted that Trump "is counting on US strategic reserves to offset these fluctuations. He sees a window of opportunity for himself now — and would like to use it" .

But as Neil Shearing, chief global economist for Capital Economics in London, warned, disruptions to oil and stock markets could mean "suddenly you've got gas prices up and 401(k)'s down" .

## The Global Economic Fallout

Beyond oil prices, this conflict threatens broader economic disruption.

### Shipping and Trade

Within hours of the first U.S. attacks, Hapag-Lloyd, one of the world's largest cargo carriers, suspended all transits through the Strait of Hormuz . Most major ocean carriers are expected to follow .

**Lars Jensen**, CEO of Vespucci Maritime, warned that protracted attacks would likely cause extensive disruption in container shipping, leading to congestion at ports in Oman, Sri Lanka, Malaysia, and Singapore . "Congestion in key hubs could even lead to rate increases on trade not directly going to/from the Gulf," he said .

### Natural Gas

UBS warned that global benchmarks including JKM (Asia), TTF (Europe), and Henry Hub (U.S.) are likely to move higher, citing potential risks to Qatar's **77 million tons per annum LNG supply** and the oil-linked pricing structure of Middle Eastern LNG contracts .

### Inflation and Interest Rates

Higher oil prices could derail the gradual progress on inflation that the Federal Reserve had been forecasting. Inflation is currently running at an annual rate of **3%** , exceeding the Fed's price stability target . The Fed had expected it to cool to 2.5% by year's end.

Higher oil prices could prevent that. If inflation stays elevated, interest rate cuts that markets had been hoping for could be delayed or canceled.

### Stock Markets

Carsten Brzeski, chief economist for ING Germany, warned that war with Iran could mark an end to investor complacency. "We've all grown numb when it comes to these wars and geopolitics," he said. "I think on Monday or in Asia [on Sunday], it would be a surprise if we don't see at least a short-lived [10 percent] correction" .

## The Winners and Losers in Energy Markets

Not everyone loses when oil prices spike.

**U.S. exploration and production companies** are likely to benefit. UBS said it would expect a positive stock reaction for U.S. E&P companies, particularly more leveraged oil names, and said Canadian majors such as CNQ and CVE are well positioned to profit from higher crude prices .

**European defense stocks** have already grown about 10% since the beginning of the year and are likely to see increased demand amid escalating geopolitical tensions .

**Airlines and travel stocks** face the opposite pressure. Higher fuel costs, disrupted routes, and potential cancellations will hit this sector hard.

**The U.S. dollar** presents a complicated picture. CBA analysts noted that the USD index fell about 1% during the war last June, but that decline was short-lived and reversed after 3-4 days . If the conflict drags on and disrupts oil supplies, they expect the U.S. dollar to appreciate against most currencies except the Japanese yen and Swiss franc, because the U.S. is a net energy exporter and could benefit from higher oil and gas prices .

## Frequently Asked Questions

**Q: How much oil actually passes through the Strait of Hormuz?**

A: About 20 million barrels per day, representing roughly 20% of global oil consumption and nearly a third of the world's seaborne-traded crude .

**Q: Could Iran actually block the strait?**

A: Yes, but it would also halt its own exports, depriving Tehran of vital revenue. That's likely part of the reason the strait has never been fully blocked .

**Q: How high could oil prices go?**

A: Analysts project a wide range. A contained conflict could push Brent to $80. A serious supply disruption could drive oil to $90-100. A full Hormuz closure could push prices into triple digits .

**Q: What does this mean for U.S. gas prices?**

A: Higher oil prices translate directly to higher gasoline prices. If Brent hits $80, expect $3.50-4.00 gas. If it goes to $100, $4.50+ gas is likely.

**Q: Does the U.S. have any protection against price spikes?**

A: The Strategic Petroleum Reserve holds about 415 million barrels, covering roughly 200 days of net imports . President Trump has signaled willingness to use it.

**Q: How will this affect inflation?**

A: Capital Economics estimates that oil at $100 could push global inflation up by 0.6-0.7 percentage points . That could delay interest rate cuts.

**Q: What should I do with my investments?**

A: Energy and defense stocks may benefit. Airlines and travel stocks could struggle. But history shows geopolitical selloffs are often temporary—panic-selling is rarely the right move.

**Q: How long could this last?**

A: FGE Nexanteca's Iman Nasseri warned that "there is a high chance this could last weeks, if not months" .

## The Bottom Line

Here's what I keep coming back to.

Oil markets are now caught between two powerful forces: the physical reality of a chokepoint that carries 20% of the world's supply, and the political reality of a president facing midterm elections with his approval ratings underwater .

**The Strait of Hormuz** is the most vulnerable point in global energy infrastructure. Its closure would be catastrophic—not just for oil prices, but for the entire global economy.

**Iran's calculus** is equally stark. Its leadership, reeling from the death of its Supreme Leader, may see no reason for restraint. Attacking Gulf shipping hurts its neighbors, pressures the West, and costs it nothing—literally, since its own exports are already sanctioned.

**The U.S. response** will determine the outcome. Strategic reserves can cushion a price spike, but they can't replace 20 million barrels per day indefinitely. Military action to reopen the strait is possible, but that means sustained commitment.

For American consumers, the next few weeks will tell us whether this is another temporary spike or the beginning of a new era of expensive oil. For President Trump, they'll tell us whether his gamble pays off—or whether higher gas prices cost him the midterms.

One thing is certain: the margin for miscalculation has never been narrower.

---

*Got questions about how this affects your specific situation—gas prices, investments, or just peace of mind? Drop them in the comments.*

Iran’s Attacks on Persian Gulf Countries Crack Their Safe Haven Image

 

# Iran’s Attacks on Persian Gulf Countries Crack Their Safe Haven Image

**Published: March 2, 2026**

You know that feeling when you've always thought of a place as safe, untouchable, immune from the chaos around it—and then suddenly, it's not?

That's exactly what just happened to the Persian Gulf.

For decades, Dubai, Abu Dhabi, Doha, and Manama have sold themselves as serene, tax-free oases in the middle of a turbulent region. They built gleaming skyscrapers, attracted celebrities and oligarchs, and marketed themselves as places where you could live in luxury while the rest of the Middle East burned.

This weekend, that illusion shattered.

Iran launched waves of missiles and drones across the Gulf in retaliation for a massive U.S.-Israeli assault that killed top Iranian leaders . The attacks hit airports, luxury hotels, military bases, and residential areas across at least eight countries . For the first time, the war came to the places that thought they were safe.

Let me walk you through what happened, why it matters, and what this means for the millions of expats, investors, and tourists who built their lives around the Gulf's promise of security.

## The Short Version: What You Need to Know

**What happened:** On February 28, Iran launched coordinated missile and drone strikes across multiple Gulf countries—including the UAE, Qatar, Bahrain, Kuwait, Oman, and Saudi Arabia—in retaliation for a joint U.S.-Israeli attack that killed Iran's Supreme Leader and other top officials .

**The scale:** The UAE alone was targeted by 137 missiles and 209 drones . Across the region, hundreds of projectiles streaked through the skies of cities that had never seen direct attack.

**The damage:** Landmarks were hit. Dubai's Palm Jumeirah saw fire at the Fairmont hotel. Flames licked the facade of the famous Burj Al Arab. Dubai International Airport was damaged, injuring four employees . Abu Dhabi's airport reported one killed and seven injured . Across the Gulf, dozens were killed and hundreds wounded .

**The safe haven myth:** "This is Dubai's ultimate nightmare, as its very essence depended on being a safe oasis in a troubled region," said Cinzia Bianco, a Gulf expert at the European Council on Foreign Relations .

**What's next:** The UAE closed its embassy in Tehran . Gulf leaders are huddling, calling for restraint while reserving the right to respond . And millions of expats are questioning whether the place they call home is still safe.

## The Attacks: A Region Under Fire

Let's start with what actually happened, because the scale is almost unimaginable.

**Table 1: Iran's Attacks on Gulf Countries – By the Numbers**

| **Country** | **Missiles Fired** | **Drones Fired** | **Key Targets Hit** |

| :--- | :--- | :--- | :--- |

| UAE | 137 | 209 | Dubai Airport, Palm Jumeirah, Burj Al Arab, Abu Dhabi Airport, Jebel Ali Port  |

| Qatar | 66 | 12 | Al Udeid air base (largest U.S. base in region), industrial area  |

| Bahrain | 45 | 9 | U.S. Fifth Fleet HQ, Bahrain Airport, residential areas in Manama  |

| Kuwait | 11+ | 15+ | Ali Al Salem Air Base, Kuwait Airport  |

| Saudi Arabia | 5 | — | Military facility with U.S. forces  |

| Oman | — | 2 | Duqm Port, oil tanker off coast  |

| Jordan | 49 total | — | Targets across country  |

| Israel | — | — | Beit Shemesh, Tel Aviv area  |

*Sources: *

The UAE bore the heaviest barrage. Emirati air defenses intercepted 132 missiles and 195 drones, but 14 drones still fell on territory and waters . Debris from intercepted weapons rained down across Dubai, sparking fires at iconic locations.

In Abu Dhabi, debris from an intercepted drone struck Zayed International Airport, killing one person and injuring seven . Another drone fragment hit the Etihad Towers complex, which houses the Israeli embassy, injuring a woman and her child .

Qatar, home to the massive Al Udeid air base that serves as the focal point of U.S. Middle East air operations, was targeted by 66 missiles and 12 drones . Most were intercepted, but debris containing toxic gases fell within Qatari territory .

Bahrain, which hosts the U.S. Navy's Fifth Fleet headquarters, saw 45 missiles and 9 drones. Several residential buildings in the capital Manama were hit, with smoke rising from the Mina Salman port area .

Even Oman—which had carefully maintained neutrality and mediated talks between the U.S. and Iran—was not spared. Two drones hit the port of Duqm, injuring a foreign worker, and an oil tanker was targeted off the Omani coast .

## The Safe Haven Myth: Why This Matters So Much

To understand why these attacks are so devastating, you need to understand what the Gulf states built.

For decades, countries like the UAE and Qatar have traded on one thing above all: stability. In a region defined by war, revolution, and chaos, they offered peace. They were the places where Iranian businessmen could operate, where Russian oligarchs could park their money, where American celebrities could party without fear .

**Cinzia Bianco** captured it perfectly: "There was nothing that they valued more than that perception of safety — and they prided themselves on maneuvering politically and hedging to be basically on the good books of everyone" .

The economic model depends on it. Nearly 90% of the UAE's 11 million residents are foreigners . They came for jobs, for tax-free income, for luxury—and because it was safe. Real estate firms sell glimmering high-rises and poolside villas by touting the Emirates as one of the safest places on earth .

That pitch just got a lot harder to make.

"This is Dubai's ultimate nightmare, as its very essence depended on being a safe oasis in a troubled region," Bianco wrote on X. "There might be a way to be resilient, but there is no going back" .

## The Human Toll: What It Felt Like on the Ground

The statistics don't capture the terror.

In Dubai, social media influencers and terrified migrant workers shared videos of fiery projectiles streaking past the city's iconic skyscrapers . British racehorse trainer Jamie Osborne, who was in Dubai for an event, described the scene: "You're standing in the paddock watching missiles get shot through the sky" .

**Kristy Ellmer**, on a business trip from New Hampshire, said she stayed away from her hotel windows but could hear the explosions. "You hear a lot of explosions at times, you know, there's hundreds of them," she said. "It's unsettling. We're not used to hearing bombs, right, or missiles" .

In Doha, nursing student Maha Manbaz spoke for many: "We are scared of what the future is for us now, and we can't say how the next few days are going to be" .

A Lebanese woman living in Riyadh captured the existential crisis facing millions of expats: "We came to the Gulf because it's known to be safer than Lebanon. Now I don't know what to do or how to think really" .

**Louise Herrle**, an American tourist whose flight home was canceled, said she's less likely to return. "I would probably be inclined to avoid this part of the world when there's increased tensions, it just explodes so quickly," she said. "The universe was trying to tell us something" .

## The Defense Response: Did the Air Defenses Work?

Gulf officials tried to reassure residents that their air defense systems were among the world's best.

**Reem Al Hashimy**, the UAE's minister of state for international cooperation, told CNN: "We don't hear these types of loud sounds. But at the same time, those are sounds of interception. And where there has been damage — that has been primarily debris" .

And technically, she's right. The vast majority of incoming projectiles were intercepted. The UAE claimed to have stopped 96% of the 346 threats it faced . Bahrain's defenses knocked down 45 missiles and nine drones . Qatar intercepted most of its 78 incoming threats .

But "primarily debris" is cold comfort when that debris sets fire to the Burj Al Arab, damages the international airport, and kills people.

**The lesson for military analysts** is sobering: even the most sophisticated air defenses can't guarantee perfect protection. When hundreds of missiles and drones are launched simultaneously, some will get through. And when they do, they hit iconic landmarks, residential areas, and critical infrastructure .

## The Regional Response: Condemnation and Calculations

The political response was swift—and revealing.

**Saudi Arabia** condemned "the blatant Iranian aggression" and affirmed its "full solidarity" with affected countries, placing "all its capabilities" at their disposal . Crown Prince Mohammed bin Salman called UAE President Sheikh Mohamed bin Zayed to discuss the attacks—their first conversation since a public row in late December .

**Qatar** strongly condemned the targeting of its territory, calling it a "flagrant violation" of its sovereignty, while noting it had long advocated dialogue with Iran .

**Kuwait** affirmed its "full and inherent right to self-defense" under the UN Charter .

**Jordan** condemned the attacks and urged "restraint and reliance on diplomatic solutions" .

The UAE, while reserving its right to respond, emphasized that targeting civilians and civilian infrastructure is "unequivocally condemned and strictly prohibited under international law" .

But actions spoke louder than words. The UAE closed its embassy in Tehran on Sunday . The carefully cultivated economic relationship—the Emirates is one of Iran's largest trading partners —is now in serious jeopardy.

**Bader al-Saif**, a professor at Kuwait University, summed up the Gulf's impossible position: "The Gulf states are sandwiched between Iran and Israel, and have to bear the worst inclinations of both. Iran's attacks on the Gulf are misplaced. They'll only alienate its neighbours and invite further distancing from Iran" .

## The Economic Fallout: Oil, Travel, and Investment

The attacks didn't just kill people and damage buildings. They hit the region's economic lifelines.

**The Strait of Hormuz**, through which about 20% of the world's oil passes, has effectively been taken out of commission. Analysts warn of significant fuel supply disruptions within 72 hours at major regional fuel hubs .

**Air travel** was thrown into chaos. The UAE, Qatar, and Kuwait all closed their airspace . Emirates and Qatar Airways fully grounded operations . Jordan's flight information region was restricted to government-only traffic . Hundreds of thousands of travelers were stranded.

**Tourism**, a cornerstone of Gulf economies, faces an uncertain future. If wealthy tourists and businesspeople decide the region is no longer safe, the economic damage could far exceed the physical destruction.

**Real estate**—the glittering high-rises and poolside villas sold to foreigners seeking a safe haven—now carries a new risk premium. As one analyst put it, "There might be a way to be resilient, but there is no going back" .

## What This Means for Americans

### If You're in the Gulf

If you're an American living or working in the Gulf, the past few days have been terrifying. The place you chose for safety is no longer untouched. Embassy closures, grounded flights, and the constant threat of escalation create an untenable situation.

**The U.S. government** has not yet ordered evacuations, but Americans in the region should review their emergency plans, register with the State Department's STEP program, and stay informed.

### If You're an Investor

The Gulf's "safe haven" premium just took a hit. Real estate, tourism, and aviation stocks could face pressure. Energy markets, on the other hand, are likely to see continued volatility as the Strait of Hormuz disruption threatens global supply.

### If You're Just Watching

This is a watershed moment. The carefully constructed illusion of Gulf stability—built on decades of diplomatic hedging and economic openness—has been shattered. The region will never quite feel the same.

## Frequently Asked Questions

**Q: Why did Iran attack Gulf countries?**

A: The attacks were retaliation for a massive U.S.-Israeli assault that killed top Iranian leaders, including Supreme Leader Ayatollah Ali Khamenei . Iran's stated targets included U.S. military assets and their regional allies.

**Q: Which countries were hit?**

A: Iran launched strikes against at least eight countries: the UAE, Qatar, Bahrain, Kuwait, Oman, Saudi Arabia, Jordan, and Israel .

**Q: How bad was the damage?**

A: Significant. Dubai's Palm Jumeirah, Burj Al Arab, and international airport were hit. Abu Dhabi's airport saw casualties. Bahrain's Fifth Fleet headquarters and airport were targeted. Kuwait's air bases were struck. Qatar's Al Udeid base was targeted. Dozens were killed, hundreds injured .

**Q: Are Gulf countries still safe?**

A: That's the billion-dollar question. Military analysts note that while air defenses intercepted most threats, the fact that any got through—and hit iconic targets—shatters the perception of invulnerability. Experts say there's "no going back" .

**Q: How did Gulf governments respond?**

A: With condemnation, calls for restraint, and quiet diplomacy. Leaders are consulting with each other and reserving the right to respond, while also urging de-escalation .

**Q: What happens to travel?**

A: Major airlines have grounded flights. Airspace restrictions remain in place. It will take days or weeks for normal operations to resume.

**Q: Will oil prices spike?**

A: Almost certainly. The Strait of Hormuz disruption threatens 20% of global supply. Analysts warn of significant fuel supply disruptions .

**Q: What should I do if I'm in the Gulf?**

A: Stay informed, follow official guidance, review emergency plans, and register with the State Department's STEP program if you're a U.S. citizen.

## The Bottom Line

Here's what I keep coming back to.

For decades, the Persian Gulf states built their entire economic model on one promise: that they were safe. In a region of chaos, they were the oasis. In a neighborhood of war, they were the peace. They attracted the world's wealthy, the world's talent, and the world's capital by offering stability.

That promise is now broken.

**Cinzia Bianco** put it starkly: "This is Dubai's ultimate nightmare, as its very essence depended on being a safe oasis in a troubled region. There might be a way to be resilient, but there is no going back" .

The attacks will be repaired. The airports will reopen. The hotels will rebuild. But the perception—the carefully cultivated image of invulnerability—may never fully recover.

For the millions of expats who made the Gulf their home, the calculation has changed. For investors who poured billions into its real estate and tourism, the risk premium has shifted. For the Gulf states themselves, a new era has begun—one where they are no longer above the fray, but squarely in it.

The safe haven is gone. Now they have to figure out what comes next.

---

*Got questions about the situation in the Gulf? Americans living there? Drop them in the comments.*

Netflix's Co-CEO Explains Why He Quit the Warner Bros. Fight: 'They Were Irrational'

 

# Netflix's Co-CEO Explains Why He Quit the Warner Bros. Fight: 'They Were Irrational'

**Published: March 2, 2026**

You know that feeling when you're in an auction, the bidding gets way higher than you expected, and you just have to walk away?

That's exactly what happened with Netflix and Warner Bros. Discovery. But according to Netflix co-CEO Ted Sarandos, it wasn't just about the money. It was about dealing with a rival he calls "irrational."

In his first interview since losing the bidding war, Sarandos didn't hold back. He described Paramount's offers as "unusual, irrational, whatever words you want to use in that" . And he offered a fascinating glimpse into the political dynamics that ultimately gave the Ellison family—with their deep ties to President Trump—a decisive advantage.

Let me walk you through exactly why Netflix walked away, what Sarandos said about the process, and why this might actually be the best thing that could have happened to the streaming giant.

## The Short Version: What You Need to Know

**What happened:** Netflix had an $82.7 billion deal to buy Warner Bros. Discovery's studio and streaming assets . Paramount Skydance, backed by the Ellison family, launched a hostile bid for the entire company. When Paramount raised its offer to $31 per share, Warner's board declared it "superior." Netflix had four business days to match. They declined within hours .

**The financial math:** Paramount's winning bid valued Warner at about **$110 billion including debt** . That's roughly 13 times Warner's EBITDA—well above what Paramount itself is worth on the same basis .

**Why Netflix walked:** Sarandos and co-CEO Greg Peters called the deal a "nice to have" at the right price, not a "must have" at any price . Sarandos later described Paramount's tactics as "irrational" and suggested they relied on political pressure because it's "cheaper to make noise" .

**The political angle:** The Ellison family has deep ties to President Trump. David Ellison, Paramount's CEO, and his father Larry (Oracle's billionaire founder) positioned themselves as allies of the administration. Sarandos noted that once it became clear Netflix wasn't in the "CNN business," Trump's interest in blocking their deal faded .

**The stock reaction:** Netflix shares surged **more than 10%** the day they walked away . Investors clearly approved.

## The Numbers That Matter: Why $82.7 Billion Became $110 Billion

Let's start with the raw math, because it explains a lot about why Netflix said no.

**Table 1: The Bidding War by the Numbers**

| **Metric** | **Netflix Offer** | **Paramount Offer** |

| :--- | :--- | :--- |

| Per share price | $27.75 | $31.00 |

| Total equity value | ~$82.7 billion | ~$110 billion (including debt) |

| What it bought | Studio + streaming assets only | Entire company (including CNN, cable networks) |

| Breakup fee (if deal fails) | Would receive $2.8 billion from Warner | Agreed to pay Warner's $2.8B fee to Netflix + $7B regulatory termination fee |

| EBITDA multiple | ~9-10x | ~13x |

*Sources: *

When Warner's board declared Paramount's $31 offer "superior" on February 26, Netflix had four business days to respond . They took less than two hours .

Sarandos later explained the thinking: "We had a very tight range that we'd be willing to pay and made that offer back when we closed this deal. We hadn't moved much from that, except for moving to cash, which served to move the deal faster. I'm happy where we got in and happy where we got out. We knew right away, when we got the notice on Thursday that they had a superior offer and the details of that deal. We knew exactly what we were going to do" .

## 'Irrational' Bidding: Sarandos Speaks His Mind

In his Bloomberg interview, Sarandos was asked about dealing with an "unusual" buyer. His response was telling.

**"Unusual, yeah, unusual, irrational, whatever words you want to use in that,"** he said .

He explained that Paramount tried to apply political pressure early in the process, suggesting it would spook Warner shareholders. But Sarandos saw through it.

**"It's a lot cheaper to make noise than it is to actually raise your bid,"** he said. "So they tried that path first. Once it was clear that we weren't in the CNN business, it was a lot less interesting. He didn't care that much more about our deal" .

That "he" is almost certainly President Trump, who has long targeted CNN. By agreeing to spin off CNN in its deal, Netflix essentially removed itself from Trump's crosshairs. But for Paramount—which was buying the whole company, CNN included—the political dynamics were entirely different.

**The result:** Sarandos suggested that Paramount's eventual winning bid wasn't just financially aggressive. It was driven by factors beyond pure economics. "It'll be fascinating to see the next steps," he said. "I have been on the record a lot in the last two weeks talking about what I think the future looks like. I'm confident in our future that we're not impacted by all that. In fact, maybe it's to our advantage. But I hope I'm wrong for the sake of the industry" .

## The Political Chess Game: Trump, the Ellisons, and CNN

You can't understand this deal without understanding the politics.

**The Ellison family** has cultivated close ties to President Trump. Larry Ellison, the Oracle billionaire, is a Trump ally. His son David runs Paramount Skydance. When Trump addressed Congress for his State of the Union speech on February 24, David Ellison was in the audience .

**The Trump factor:** Trump has repeatedly attacked CNN, calling its leadership "corrupt or incompetent" and saying the network should be sold. Under Netflix's deal, CNN would have been spun off as a separate public company. Under Paramount's deal, CNN stays inside the combined giant—now under the same roof as CBS, which has already seen editorial shifts under Skydance ownership .

**Bari Weiss's role:** Free Press founder Bari Weiss was installed as editor-in-chief of CBS News after Skydance's takeover, a move seen as appealing to more conservative viewers. Critics warn similar changes could come to CNN if the deal closes .

**Democratic backlash:** Senator Elizabeth Warren didn't mince words. She called the potential merger an "antitrust disaster" and warned that "a handful of Trump-aligned billionaires are trying to seize control of what you watch and charge you whatever price they want" .

Mike Proulx at Forrester Research summed it up: "Politics are playing an outsized role in this deal, and they've been on Paramount's side from the get-go" .

## Why Investors Cheered Netflix's Retreat

Here's the most telling signal of all: Netflix stock jumped **more than 10%** the moment they walked away .

The stock had fallen about 18% since the Warner deal was announced in December . Investors never loved the idea. They worried about the massive debt, the integration challenges, and the distraction from Netflix's core business.

**Analyst reactions** were overwhelmingly positive:

- **HSBC analysts** called it "a positive turn of events in our view, as we believe NFLX's withdrawal from the race will leave it free to refocus on its business, while its closest competitors grapple with long and distracting regulatory approval and merger integration processes, and with PSKY saddled with sizable deal debts" .

- **Ben Barringer** at Quilter Cheviot said the move was a "tick in the box" for discipline. "What you want from a management team is an ability to look at acquisitions, value them, pay what they think is a fair price, but to not overpay" .

## The $2.8 Billion Consolation Prize

Netflix doesn't walk away empty-handed. Paramount agreed to pay the **$2.8 billion breakup fee** Warner would have owed Netflix . That's real money—about what Netflix spends on content in a month and a half.

Plus, Netflix now avoids years of regulatory battles, integration headaches, and the massive debt load that Paramount is taking on. The company plans to invest **$20 billion in content this year** and resume its share repurchase program .

## The Paramount Challenge: Did They Overpay?

Now the pressure shifts to Paramount. Their deal values Warner at about **13 times EBITDA**—well above what Paramount itself is worth on the same basis .

Dan Coatsworth at AJ Bell put it bluntly: "Paramount was the streaming market laggard, and it needs Warner Bros' content and capabilities to play catch-up. It will need more than Harry Potter for the deal to work its magic and enable Paramount to fight off Netflix, Disney and Amazon in the streaming wars" .

Ross Benes at Emarketer was even more skeptical: "WBD's largest asset is declining, and the company is still under debt from its last failed merger. But this deal is more about Ellison taking over Hollywood and ego than it is about good business sense" .

## What Netflix Does Next

With the Warner saga behind them, Netflix is getting back to basics.

**The $20 billion content plan:** That's roughly what Netflix spends annually on films and series—enough to keep the pipeline full and subscribers happy .

**Share buybacks:** Netflix plans to resume repurchasing its own stock, a signal that management believes shares are undervalued .

**Organic growth:** Sarandos and Peters emphasized that "Netflix's business is healthy, strong and growing organically, powered by our slate and best-in-class streaming service" .

## Frequently Asked Questions

**Q: Why did Netflix walk away from the Warner deal?**

A: Netflix's co-CEOs said the price required to match Paramount's $31-per-share offer was "no longer financially attractive." They called the deal a "nice to have" at the right price, not a "must have" at any price .

**Q: What did Ted Sarandos say about Paramount?**

A: In a Bloomberg interview, Sarandos called Paramount's tactics "unusual, irrational" and suggested they relied on political pressure because it's "cheaper to make noise" .

**Q: How did investors react?**

A: Netflix stock surged more than 10% the day they walked away, indicating strong approval of the decision .

**Q: Does Netflix get anything for walking away?**

A: Yes. Paramount agreed to pay the $2.8 billion breakup fee Warner would have owed Netflix .

**Q: What role did politics play?**

A: A significant one. The Ellison family has deep ties to President Trump, and Sarandos noted that once it became clear Netflix wasn't in the "CNN business," Trump's interest faded . Critics warn that CNN could face editorial shifts under new ownership .

**Q: What's next for Netflix?**

A: Netflix plans to invest about $20 billion in content this year and resume share repurchases. They're returning to organic growth .

**Q: Did Paramount overpay?**

A: Some analysts think so. The deal values Warner at about 13 times EBITDA—well above what Paramount itself is worth. Critics call it more about "ego" than business sense .

## The Bottom Line

Here's what I keep coming back to.

Netflix wanted Warner Bros. They spent months negotiating, lined up financing, and had a deal in place. But when the price got too high—and when the political dynamics shifted decisively in favor of a rival with deeper pockets and better connections—they walked away.

**Ted Sarandos's message** was clear: discipline matters more than ego. "We believe we would have been strong stewards of Warner Bros.' iconic brands," he said. "But this transaction was always a 'nice to have' at the right price, not a 'must have' at any price" .

**The stock market agreed.** A 10% surge is a pretty emphatic vote of confidence.

**The irony** is that Netflix may have won by losing. They pocket $2.8 billion, avoid years of regulatory headaches, and get to watch their biggest competitors struggle with massive debt and integration challenges.

Sometimes the best deal is the one you don't make. Netflix just proved that.

---

*Got thoughts on the Warner bidding war? Think Netflix made the right call? Drop a comment and let me know.*

Where to See the Total Lunar Eclipse in the Early Hours of March 3

 

# Where to See the Total Lunar Eclipse in the Early Hours of March 3

**Published: March 1, 2026**

You know that feeling when you look up at the night sky and see something that makes you stop, stare, and just feel small in the best possible way?

That's exactly what's happening in the early morning hours of March 3.

The only total lunar eclipse of 2026 is about to turn the full moon into a stunning reddish-orange orb—what skywatchers call a "blood moon." And here's the best part: you don't need any special equipment to see it. No telescope. No fancy camera. Just your own two eyes and a clear view of the sky .

Let me walk you through everything you need to know to catch this celestial show, from exact timings for your time zone to the best viewing spots and what to expect at each phase.

## The Short Version: What You Need to Know

**What's happening:** A total lunar eclipse, where the Earth passes directly between the sun and the moon, casting its shadow across the lunar surface and turning it a deep coppery red .

**When:** Early morning hours of Tuesday, March 3, 2026. Totality (the main event) runs from approximately **3:04 a.m. to 4:03 a.m. Pacific Time** / **6:04 a.m. to 7:03 a.m. Eastern Time** .

**Where it's visible:** All 50 U.S. states can see at least part of the eclipse. The West Coast gets the best view, with the entire event visible high in the sky. East Coast viewers need a clear view toward the western horizon as the moon will be setting during totality .

**What you need:** Nothing special! Just your eyes and a clear line of sight to the moon. Binoculars or a small telescope can enhance the view, and a dark location away from city lights will make the experience more dramatic .

**Why it's special:** This is the only total lunar eclipse of 2026, and the last one visible from the U.S. until 2028 . Also, the March full moon is called the "worm moon" (more on that below) .

## What Is a Total Lunar Eclipse? (And Why Does the Moon Turn Red?)

Let's start with the basics, because understanding what's happening makes it so much more amazing to watch.

### The Alignment

A total lunar eclipse happens when the Earth, sun, and moon line up perfectly, with Earth right in the middle. The Earth casts a giant shadow into space, and when the moon moves through that shadow, we get an eclipse .

This can only happen during a full moon—and not every full moon, because the moon's orbit is tilted slightly. When everything aligns just right, magic happens.

### The "Blood Moon" Effect

Here's the really cool part. During a total eclipse, the moon doesn't disappear. It turns a deep reddish-orange color. Why?

Because while Earth blocks most direct sunlight, some light still reaches the moon after passing through Earth's atmosphere. Shorter wavelengths of light (blue) scatter away, but longer wavelengths (red and orange) make it through. As NASA beautifully puts it, "It's as if all of the world's sunrises and sunsets are projected onto the moon" .

The exact shade can vary depending on how much dust and cloud cover are in Earth's atmosphere. For this eclipse, because it only passes slightly inside Earth's shadow, the moon may appear more copper or glowing orange rather than deep crimson .

## When to Watch: Complete Timeline for March 3

Here's the most important part—the exact times for each phase of the eclipse. I've broken it down by time zone so you can plan accordingly.

**Table 1: March 3 Lunar Eclipse Timeline (All Times a.m.)**

| **Event** | **Pacific Time** | **Mountain Time** | **Central Time** | **Eastern Time** | **What You'll See** |

| :--- | :--- | :--- | :--- | :--- | :--- |

| Penumbral eclipse begins | 12:44 a.m. | 1:44 a.m. | 2:44 a.m. | 3:44 a.m. | Very subtle dimming; hard to notice  |

| Partial eclipse begins | 1:50 a.m. | 2:50 a.m. | 3:50 a.m. | 4:50 a.m. | A dark "bite" appears on the moon  |

| **Totality begins** | **3:04 a.m.** | **4:04 a.m.** | **5:04 a.m.** | **6:04 a.m.** | **Moon fully red/orange—the main event!**  |

| Totality ends | 4:03 a.m. | 5:03 a.m. | 6:03 a.m. | 7:03 a.m. | Red fades; "bite" appears on opposite side  |

| Partial eclipse ends | 5:17 a.m. | 6:17 a.m. | 7:17 a.m. | 8:17 a.m. | Shadow leaves the moon  |

| Penumbral eclipse ends | 6:23 a.m. | 7:23 a.m. | 8:23 a.m. | 9:23 a.m. | Eclipse completely over  |

*Sources: NASA via Newsweek, Outside Online, WLOS*

## Where to See It: Best Locations by Region

Here's where geography matters. Not everyone will see the same thing.

### West Coast: The Prime Viewing Spot

**Best viewing region in the country.** The entire eclipse will be visible, with the moon high in the sky during totality .

In California, for example, the partial eclipse begins around 1:50 a.m. PT, with full totality starting just after 3 a.m. PT. You'll get the complete show from start to finish.

**Top West Coast spot:** Sonoma Coast State Park, California, located 70 miles north of San Francisco. The patchwork of craggy shores and tide pools offers spectacular west-facing views. The park stays open after dark, which is important since the partial eclipse begins at 1:50 a.m. local time .

If fog rolls in, head south to Redondo Beach Pier in LA County, which stays open all night .

### Mountain and Central Time Zones

**Excellent views.** You'll see almost the entire eclipse, though the moon will be lower in the sky during the later phases. Still, totality happens well before sunrise, so you're in great shape.

**Top Mountain time zone spot:** Arches National Park, Utah. The park is open all hours, and the moon will be higher in the sky, so you don't have to stress as much about clear horizon views. Try the Windows section for an easily reachable viewpoint .

**Top Central time zone spot:** Badlands National Park, South Dakota. This sea of sharp buttes offers numerous west-facing vantage points like Bigfoot Pass Overlook or the White River Valley Overlook. The ultra-flat Prairie Wind Overlook provides clear horizon views .

### Eastern Time Zone: The Challenging View

**This is where it gets tricky.** For viewers on the East Coast, the eclipse occurs close to moonset. The moon will be low on the western horizon during totality .

**What this means:** You need a location with a clear, unobstructed view to the west. If you have hills, buildings, or trees blocking your western horizon, you might miss the best part. Pick your spot carefully!

The moon will set during the partial phase after totality, so you won't see the very end of the event .

**Top Eastern spot:** Buffalo Waterfront, New York. With west-facing views across Lake Erie, Buffalo is a prime spot to watch the blood moon sink into the water. Snag your eclipse view anywhere along the waterfront, such as the Greenway Nature Trail or Woodlawn Beach State Park .

### The South: A Special Dark Sky Opportunity

**Top Southern spot:** Greater Big Bend International Dark Sky Reserve, Texas. This region, which includes Big Bend State Park and Big Bend National Park, is one of the inkiest getaways in the country. That means other night-sky sights, such as the Milky Way core, will join the eclipse .

Try the trail in Chisos Basin's Windows Trail or go overnight in a stargazing dome at the Summit at Big Bend to watch from bed. Totality lasts for nearly an hour here, starting at 5:04 a.m. local time .

### Florida: A Special Case

Floridians need to be quick. The moon sets shortly after totality begins—meaning viewers may only see 20 to 30 minutes of the blood moon before it sinks below the western horizon .

**Best viewing times for Florida cities:**

**Table 2: Florida Viewing Times (Eastern Time)**

| **City** | **Eclipse Visible** | **Max Viewing** |

| :--- | :--- | :--- |

| Miami | 3:44 a.m. – 6:44 a.m. | 6:33 a.m.  |

| Orlando | 3:44 a.m. – 6:50 a.m. | 6:33 a.m.  |

| Jacksonville | 3:44 a.m. – 6:52 a.m. | 6:33 a.m.  |

| Tampa | 3:44 a.m. – 6:51 a.m. | 6:33 a.m.  |

| Tallahassee | 3:44 a.m. – 6:54 a.m. | 6:33 a.m.  |

*Source: TCPalm / USA TODAY Network - Florida*

For Florida viewers, locations with clear western horizons—beaches, open farmland, or elevated terrain—will offer the best viewing chances .

### Canada: A Mixed Picture

Our neighbors to the north have varying visibility:

- **Western Canada:** The entire eclipse visible

- **Prairie provinces (Alberta, Saskatchewan, Manitoba):** You'll see totality, but the moon will set during the later partial phase

- **Atlantic Canada:** Only a partial eclipse visible

Professor Paul Delaney of York University offers some practical advice: "Like any eclipse, dress for the weather. [It will] likely be chilly for Canadians, so dress warmly for best enjoyment."

## How to Watch: Tips for the Best Experience

### No Special Equipment Needed

This is one of the best things about lunar eclipses—they're completely safe to watch with your naked eyes. No special glasses required like you need for solar eclipses .

### Enhance Your View

If you want to take it up a notch:

- **Binoculars:** Can help you peer closer at the moon's crater-pocked surface and bring out the red color 

- **Small telescope:** Can provide even more detail

- **Dark location:** While not required, a spot away from city lights will make the experience more dramatic 

### For Photographers

NASA recommends using a tripod and exposures of at least several seconds during totality to capture the reddened lunar disk .

If you're using a smartphone:

- Zoom in using the dial at the bottom of your camera instead of pinching and zooming—the former retains more quality

- Use a tripod if you have one

- No tripod? Prop your phone in the back of your shoe as a hack stabilizer 

### Check Your Weather

Obviously, clouds are the enemy here. Use Windy.com or your favorite weather app to check cloud-cover forecasts. If it's cloudy locally, consider traveling to a clearer spot or enjoy the view via Time and Date's eclipse livestream .

## Fun Facts to Share While You're Watching

### The Worm Moon

March's full moon is traditionally called the "worm moon" in reference to the earthworms that begin to appear in North America around this time of year as the ground thaws. The name traces back to Native American, Colonial American, and other North American traditions, with their titles mirroring seasonal shifts and nature's events .

### The Constellation Connection

During the eclipse, the moon will be in the constellation Leo, under the lion's hind paws. With the moon's brightness dimmed, you might be able to spot stars that are usually washed out by the full moon's glare .

### This Is Rare

This is the only total lunar eclipse of 2026, and it's the last one visible from the United States until 2028 . If you miss it, you'll be waiting a while for the next one.

### What You Won't See

Lunar eclipses are not visible from Africa or Europe at all. If you have friends or family there, they're completely out of luck for this one .

## What Else Is Happening in the Sky This Week

If the eclipse gets you hooked on skywatching, you're in luck—March is packed with celestial events.

**Table 3: Upcoming Night Sky Events in March 2026**

| **Date** | **Event** | **Details** |

| :--- | :--- | :--- |

| March 1 | Planet parade | Mercury, Venus, Saturn low in west after sunset; Jupiter high in southeast  |

| **March 3** | **Total lunar eclipse** | **The main event!** |

| March 7-8 | Venus-Saturn conjunction | Two planets appear close together in evening sky  |

| March 19 | New moon / Zodiacal light | Dark skies for stargazing; pyramid of light visible after sunset  |

| March 20 | Spring equinox | Also brings increased aurora activity  |

| March 22 | Moon near Pleiades | Crescent moon visits the famous star cluster  |

| March 26-27 | Jupiter-moon meetup | Jupiter and gibbous moon travel together near Orion  |

*Source: National Geographic*

## Frequently Asked Questions

**Q: Do I need special glasses to watch the lunar eclipse?**

A: No! Unlike solar eclipses, lunar eclipses are completely safe to watch with your naked eyes. No protective equipment needed .

**Q: What time should I set my alarm for?**

A: Check the timeline table above for your time zone. If you only want to see the main event (totality), set your alarm for about 15 minutes before the "Totality begins" time for your location.

**Q: What's the difference between partial and total eclipse?**

A: During a partial eclipse, only part of the moon is in Earth's dark inner shadow (the umbra). It looks like a bite has been taken out of the moon. During totality, the entire moon is within the umbra and turns red .

**Q: Will the moon actually look red?**

A: Yes! The exact shade can vary from bright orange to deep coppery red, depending on atmospheric conditions. For this eclipse, it may appear more copper or glowing orange rather than deep crimson .

**Q: What if it's cloudy?**

A: Unfortunately, clouds will block the view. Check your local forecast and hope for clear skies. You can also watch via Time and Date's eclipse livestream .

**Q: Can I take pictures with my phone?**

A: Yes, but zoom in using the dial at the bottom of your camera for best quality. A tripod and multi-second exposures will help capture the reddened moon .

**Q: Is this visible everywhere in the U.S.?**

A: Yes, all 50 states can see at least part of the eclipse, though the East Coast view is more challenging due to moonset during totality .

**Q: When is the next lunar eclipse?**

A: There will be a partial lunar eclipse Aug. 27-28, 2026, but the next total lunar eclipse visible from the U.S. won't happen until New Year's Eve 2028 .

## The Bottom Line

Here's what I keep coming back to.

We spend so much of our lives looking down at screens, rushing from one thing to the next, forgetting that there's an entire universe happening above us. A total lunar eclipse is one of those rare moments when the cosmos puts on a show that's impossible to ignore.

**The timing is early.** Yes, you'll have to set an alarm. Yes, you'll be tired at work on Tuesday. But decades from now, you won't remember the extra hour of sleep. You'll remember standing outside in the dark, watching the moon turn red.

**The view is free.** No tickets, no reservations, no special equipment. Just you, the night sky, and one of nature's most beautiful spectacles .

**The moment is fleeting.** Totality lasts just under an hour . The moon will be red for a little while, and then it'll fade back to normal. Don't miss it.

Find a dark spot. Bring a chair. Maybe some coffee if you're on the East Coast and need to stay awake. Look up at 3 a.m. Pacific / 6 a.m. Eastern. And just... watch.

You'll be glad you did.

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*Got questions about viewing from your specific location? Drop them in the comments and I'll do my best to help.*