Category Archive

During the 2019 Berkshire Hathaway Annual Meeting, Warren Buffett discusses how Berkshire Hathaway has had to adapt over the years to keep up with the changing business landscape. Here’s an excerpt from the meeting: WARREN BUFFETT: Yeah. But I mean, we basically want to have a group of managers, and … Read More

In the Berkshire Hathaway Owner’s Manual, Warren Buffett explains why he is willing to reject interesting opportunities rather than over-leverage his balance sheet. Here’s an excerpt from the Owner’s Manual: We use debt sparingly and, when we do borrow, we attempt to structure our loans on a long-term fixed-rate basis. … Read More

In his 1984 Berkshire Hathaway Annual Letter, a year in which Berkshire Hathaway’s net worth increased by $152.6 million, or 13.6%. Warren Buffett explained why “big ideas” were the only way to help the company achieve its long-term goal of earning 15% annually. Here’s an excerpt from the letter: Using … Read More

During the 2010 Berkshire Hathaway Annual Meeting, Warren Buffett explained why you have to be prepared to grab opportunities when they come around. Here’s an excerpt from the meeting: WARREN BUFFETT: There will probably be fewer, but I would say there will always be — except in the most bubbly … Read More

In his 2012 Berkshire Hathaway Annual Letter, Warren Buffett explained why he follows Phil Fisher’s approach to dividends. Here’s an excerpt from the letter: Buffett: Above all, dividend policy should always be clear, consistent and rational. A capricious policy will confuse owners and drive away would-be investors. Phil Fisher put … Read More

During the 1994 Berkshire Hathaway Annual Meeting, Warren Buffett explained why some of the best businesses don’t grow. Here’s an excerpt from the meeting: AUDIENCE MEMBER: I’m Howard Bask (PH). I’m from Kansas City. When you are estimating a growth rate on a company (inaudible), a very predictable company, I … Read More

In his 1998 Berkshire Hathaway Letter, Warren Buffett discussed their ‘clean sweep’ approach to business and investing. Here’s an excerpt from the letter: During the year, we slightly increased our holdings in American Express, one of our three largest commitments, and left the other two unchanged. However, we trimmed or … Read More

In his 1979 Berkshire Hathaway Letter, Warren Buffett discussed the secret to keeping shareholder turnover low. Here’s an excerpt from the letter: Buffett: In large part, companies obtain the shareholder constituency that they seek and deserve. If they focus their thinking and communications on short-term results or short-term stock market … Read More

During the 2009 Berkshire Hathaway Annual Meeting, Warren Buffett explained why Berkshire is not interested in spinning-off its companies. Here’s an excerpt from the meeting: WARREN BUFFETT: Yeah, we will not be spinning off any companies. We had to — we were a bank holding company, believe it or not, … Read More

During this interview with CNBC, Warren Buffett explained why the trick is not to pick the right company for most investors. Here’s an excerpt from the interview: Buffett: I think it’s the same thing that makes most sense practically all of the time, and that is to consistently buy an … Read More

In his 1989 Berkshire Hathaway Letter, Warren Buffett explains why he should have bought Coca-Cola 50 years earlier than he did. Here’s an excerpt from the letter: This Coca-Cola investment provides yet another example of the incredible speed with which your Chairman responds to investment opportunities, no matter how obscure … Read More

In his 1990 Berkshire Hathaway Letter, Warren Buffett explained why declining prices for businesses benefit them. Here’s an excerpt from the letter: Investors who expect to be ongoing buyers of investments throughout their lifetimes should adopt a similar attitude toward market fluctuations; instead many illogically become euphoric when stock prices … Read More

During the 2008 Berkshire Hathaway Annual Meeting, Warren Buffett discussed his strategy for investing in Banks. Here’s an excerpt from the meeting: WARREN BUFFETT: Yeah. I don’t think you should make a categorical decision about something like — however you define them — small, mid cap, whatever, regional, or national … Read More

One of the best resources for investors are the publicly available 13F-HR documents that each fund is required to submit to the SEC. These documents allow investors to track their favorite superinvestors, their fund’s current holdings, plus their new buys and sold out positions. We spend a lot of time … Read More

In his most recent Berkshire Hathaway Annual Shareholder Letter, Warren Buffett delivered a warning to investors to beware of the economic illiterate and silver-tongued demagogues. Here’s an excerpt from the letter: A very minor gain in per-share intrinsic value took place in 2022 through Berkshire share repurchases as well as … Read More

During his recent Berkshire Hathaway Annual Meeting, Warren Buffett discussed the reason why there will always be opportunities in investing is because there’s been a great increase in the number of people doing dumb things. Here’s an excerpt from the meeting: Buffett: I would argue that there’s gonna be plenty … Read More