“We continue to feel that the ratio of operating earnings (before securities gains or losses) to shareholders’ equity with all securities valued at cost is […]
Month: April 2021
Berkshire Hathaway Annual Letter – 1978
“Successfully forecasting short term stock price movements is something we think neither we nor anyone else can do” “Obvious approaches to improved profit margins involve […]
Berkshire Hathaway Annual Letter – 1977
I am excited to begin this project of reviewing all of Warren Buffett’s annual Berkshire Hathaway shareholder letters, starting from 1977. There are currently over […]