Warren Buffett - Berkshire Hathaway Letters to Shareholders
About Warren Edward Buffett
Warren Edward Buffett (born August 30, 1930) is an American business magnate, investor, and philanthropist who serves as the chairman and CEO of Berkshire Hathaway. He is considered one of the most successful investors in the world and has a net worth of US$82 billion as of July 18, 2019, making him the third-wealthiest person in the world.
Born
Warren Edward Buffett
August 30, 1930 (age 89)
Omaha, Nebraska, U.S.
Residence
Omaha, Nebraska
Nationality
American
Alma mater
University of Pennsylvania
University of Nebraska–Lincoln
Columbia University
Occupation
Businessman, investor, philanthropist
Years active
1951–present
Known for
The leadership of Berkshire Hathaway with Charlie Munger
Net worth
US$82 billion (July 2019)
Buffett was born in Omaha, Nebraska. He developed an interest in business and investing in his youth, eventually entering the Wharton School of the University of Pennsylvania in 1947 before transferring and graduating from the University of Nebraska at the age of 19. He went on to graduate from Columbia Business School, where he molded his investment philosophy around the concept of value investing that was pioneered by Benjamin Graham. He attended the New York Institute of Finance to focus his economics background and soon after began various business partnerships, including one with Graham. He created Buffett Partnership, Ltd in 1956 and his firm eventually acquired a textile manufacturing firm called Berkshire Hathaway, assuming its name to create a diversified holding company. In 1978, Charlie Munger joined Buffett and became vice-chairman of the company.
Buffett has been the chairman and largest shareholder of Berkshire Hathaway since 1970. He has been referred to as the "Oracle" or "Sage" of Omaha by global media outlets. He is noted for his adherence to value investing and for his personal frugality despite his immense wealth. Research published at the University of Oxford characterizes Buffett's investment methodology as falling within "founder centrism" – defined by a deference to managers with a founder's mindset, an ethical disposition towards the shareholder collective, and an intense focus on exponential value creation. Essentially, Buffett's concentrated investments shelter managers from the short-term pressures of the market.
Buffett is a notable philanthropist, having pledged to give away 99 percent of his fortune to philanthropic causes, primarily via the Bill & Melinda Gates Foundation. He founded The Giving Pledge in 2009 with Bill Gates, whereby billionaires pledge to give away at least half of their fortunes. He endorsed Democratic candidate Hillary Clinton in the 2016 U.S. presidential election and will judge current U.S. President Donald Trump by his results on national safety, economic growth and economic participation when deciding if he will vote for him in the 2020 U.S. presidential election.
Product description
Warren E. Buffett first took control of Berkshire Hathaway Inc., a small textile company, in April of 1965. A share changed hands for around $18 at the time. Fifty letters to shareholders later, the same share traded for $226,000, compounding investor capital at just under 21% per year-a multiplier of 12,556 times.
This book compiles the full, un-edited versions of 50 years of Warren Buffett's letters to the shareholders of Berkshire Hathaway. In addition to providing an astounding case study on Berkshire's success, Buffett shows an incredible willingness to share his methods and act as a teacher to his many students.
There are hundreds of books about Buffett's life, advice, and methods. These are his actual letters -- word for word -- a "lesson plan" of his views on business and investing. You can find most of the letters for free on Berkshire's website, but this compiles them into a well-designed, easily readable format.
Features of the book:
* 50 years of Warren Buffett's letters to the shareholders of Berkshire Hathaway (769 pages), including 1965-1976 letters not available on Berkshire's website
* Tabulated letter years so you can easily flip to the desired letter
* Topics index
* Company index
* Person index
* Charts of Growth in Berkshire's book value and market price relative to benchmarks, Insurance float, and performance, the operating businesses of Berkshire
Review
When I started learning about Warren Buffett, one of the first things I did was buy a printer that could print on both sides of the page. I got a ream of three-hole paper, and filled a few binders with Buffett's letters to investors, all of which are freely available on his website. . . .
Well, now they have been helpfully compiled by my friend Max Olson. This edition includes charts I haven't seen anywhere else, showing Berkshire's cost of float (to the uninitiated: Buffett has borrowed money more cheaply than the U.S. government over the years, and used this fuel to invest at incredible rates of return), a chronological list of acquisitions, and even includes a topic index.
Kudos to Olson and Buffett for making this public. Now it's up to you, the reader, to make the best of it. --Marcelo P. Lima
Max Olson has done a great job for all Warren Buffett fans in putting this great collection of letters together in one easy read. --Guy Spier
About the Author
Warren Edward Buffett (born August 30, 1930) is an American business magnate, investor, and philanthropist. He is widely considered the most successful investor of the 20th century. Buffett is the primary shareholder, chairman, and CEO of Berkshire Hathaway and consistently ranked among the world's wealthiest people. He was ranked as the world's wealthiest person in 2008 and as the third wealthiest person in 2011. In 2012, American magazine Time named Buffett one of the most influential people in the world. Buffett is called the "Wizard of Omaha", "Oracle of Omaha", or the "Sage of Omaha" and is noted for his adherence to the value investing philosophy and for his personal frugality despite his immense wealth. Buffett is also a notable philanthropist, having pledged to give away 99 percent of his fortune to philanthropic causes, primarily via the Gates Foundation.
Features & details - Product information
Publisher Explorist Productions
Publication date January 1, 2016
Language English
Package Dimensions 10.8 x 8.5 x 1.2 inches
Shipping Weight 3.8 pounds
Book-length 769
Known as the "Oracle of Omaha," Warren Buffett is one of the most successful investors of all time.
Buffett runs Berkshire Hathaway, which owns more than 60 companies, including insurer Geico, battery maker Duracell and restaurant chain Dairy Queen.
The son of a U.S. congressman, he first bought the stock at age 11 and first filed taxes at age 13.
He's promised to give away over 99% of his fortune. In 2019 he donated $3.6 billion, much of it to the foundation of friends Bill and Melinda Gates.
In 2010, he and Gates launched the Giving Pledge, asking billionaires to commit to donating half their wealth to charitable causes.
ON FORBES LISTS
#3 Forbes 400 2019
The Richest Person In Every State 2019
#3 Billionaires 2019
#16 Powerful People 2018
SOURCE OF WEALTHBerkshire Hathaway, Self Made
LIFETIME GIVING$38.8B
GIVING AS A PERCENTAGE OF NET
WORTH32%
RESIDENCEOmaha, Nebraska
CITIZENSHIPUnited States
MARITAL STATUSWidowed, Remarried
CHILDREN3
EDUCATIONBachelor of Arts/Science, University of Nebraska Lincoln; Master of Science, Columbia University
DID YOU KNOW?
Buffett still lives in the same Omaha, Nebraska home he purchased in 1958 for $31,500.
“Rational people don't risk what they have and need for what they don't have and don't need”
-Warren Buffett-
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