Berkshire Hathaway Letters to Shareholders
(online letters) The famous annual letters of Buffett laying out the progress of Berkshire Hathaway and his & Munger’s investment beliefs. Apropos of an investigation into Long Bets as a charitable giving opportunity, I read through them. Perhaps the most interesting part about them is how skewed Buffett’s reputation is, given how often he is cited as a counter-example to EMH, despite him clearly explaining his strategy many times. What is most striking about Buffett’s returns is how,...more
Book lovers have their own list but this list can never be definitive since there can be no universal consensus on what should go into “the toughest reads out there!” book list. Each person’s list, like the idea of utopia or hell, is personal and unique.
But odds ...more
Here's the 2015 letter (the book stops at 2014): 2015 Letter
The 2016 letter: 2016 Letter
Going to my first shareholder meeting this May, so reading this was a great way to get the most out of the trip.
It was one of those books that I wanted to read at least once in my life and after 77 days of patience and persistence, I'm glad to have reached the end of it! :)
The letters provide you with a solid understanding of Buffett's investment philosophy and that alone makes the book ...more
Reading the letters was like reading a comic that comes out in sequels. Just like a comic, the letters are fascinating to read. A good comic leaves you gasping for more after every chapter. The letters do the same. After every letter, you are keen to know by how much percentage points the co. grew, what were the new acquisitions, how were they made (some were made in 5 mins!), new accounting lessons, proverbs n phrases,country songs, jokes and so much more.
Buffet is a master of business, accounting, investment and PR - and to see his prowess in all 4 disciplines come together in such an easy to understand and personable way ...more
I've read several books on Buffet, from biographies to essays and the collection of his letters is the best distilling of his philosophy you will ...more
The following two quotes best summarize Warren's philosophy and Berkshire Hathaway's corporate strategy:
"Charlie and I look for companies that have a) a business we understand; b) favorable long-term economics; c) able and trustworthy management; and d) a sensible price tag. We like to buy the whole business or, if management is our partner, at least 80%. When control-type purchases of...more