Apple — our runner-up Giant as measured by its yearend market value — is a different sort of holding. Here, our ownership is a mere 5.55%, up from 5.39% a year earlier. That increase sounds like small potatoes. But consider that each 0.1% of Apple’s 2021 earnings amounted to $100 million . We spent no Berkshire funds to gain our accretion. Apple’s repurchases did the job. It’s important to understand that only dividends from Apple are counted in the GAAP earnings Berkshire reports — and last year, Apple paid us $785 million of those. Yet our “share” of Apple’s earnings amounted to a staggering
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I wonder what he thought of Jobs
