Rohan Jain

3%
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In 1975 the thirty largest banks in the United States earned an average of .5% on total assets. The Illinois National earned about four times that much. These same thirty largest banks carried down 7% of operating revenues to net income. Without counting any tax benefits from consolidation, Illinois National carried down 27%.
Berkshire Hathaway Letters to Shareholders: 1965-2024
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