Buffett’s Annual Letter 2017

At Berkshire what counts most are increases in our normalized per-share earning power. That metric is what Charlie Munger, my long-time partner, and I focus on – and we hope that you do, too. Acquisitions: There are four building blocks that add value to Berkshire: (1) sizable stand-alone acquisitions; (2) bolt-on acquisitions that fit with …

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Buffett’s Letter – 2016

Following is the transcript of a CNBC interview with Warren Buffett on CNBC: - American dynamism my theme for decades - US always comes back and wins - I don't know anyone who can time markets - People should buy stock consistently over time - Interest rates act like a gravity on valuation - We …

Note # 3 – Investment advice for non-professionals

Here are the investing lessons for common investors from Buffett’s Annual Letters. Note # 3 – Investment advice for non-professionals The "what" of investing: American business has done wonderfully over time and will continue to do so. The Dow Jones industrial index advanced from 66 to 11,497, paying a rising stream of dividends. The goal …

Note # 2 – Buffett’s Best Investment

Here are the investing lessons for common investors from Buffett’s Annual Letters. Note # 2 – Buffett’s Best Investment Of all the investments he ever made, buying Ben Graham’s book "The Intelligent Investor" was the best. Buffett said, the key points were laid out in Chapters 8 and 20. These points guide his investing decisions …

Note # 1 – Four Filters

Note # 1 – Four Filters Buffett and Munger look for businesses 1) that they can understand 2) with sustainable competitive advantage 3) operated by able and honest people; and 4) available at a very attractive price Because of both market conditions and Berkshire’s size, they now substitute ‘an attractive price’ for ‘a very attractive …