Berkshire Hathaway 2012 Annual Report

The Berkshire Hathaway 2012 Annual Report is now out, you can read the full version here 2012 was another year that Berkshire did not surpass the S&P 500 in annual returns as calculated by book value gain vs the index gain.  Book Value  gained 14.4% for the year versus the S&P 500 at 16%, and that makes it three times in the past four years that the company has under performed the benchmark. To date, we’ve never had a five-year period of underperformance, having managed 43 times to surpass the S&P over such a stretch. (The record is on page 103.)...

Berkshire Hathaway 2011 Annual Report

Berkshire Annual Report Highlights for 2011 Link to the Annual Report Below are some of the highlights that I picked up from reading the 2011 Annual Report from Berkshire Hathaway.  I would recommend reading the full report by yourself as the information provided by Warren Buffett is always worthy of being read. The primary job of a Board of Directors is to see that the right people are running the business and to be sure that the next generation of leaders is identified and ready to take over tomorrow. The per-share book value of both our Class A and...