The Manhattan Purchase, The Duck, and The 36-Inch Yardstick: Decoding Buffett's 1964 Blueprint for Rational Investing

The Manhattan Purchase, The Duck, and The 36-Inch Yardstick: Decoding Buffett's 1964 Blueprint for Rational Investing

These excerpts from letters to partners of Buffett Partnership, Ltd. (BPL) summarize the firm's financial performance and investment philosophy during 1964. The mid-year report notes performance generally aligned with the Dow-Jones Industrial Average (DOW) during an advancing market, while the year-end report confirms BPL significantly outperformed the DOW and several large investment companies, although the margin of superiority was the smallest since 1959. Warren Buffett consistently emphasizes the importance of objective performance measurement against the DOW and criticizes the poor results of highly-paid professional management in the broader investment company industry. The year-end letter also introduces a revised four-category framework for BPL's investment operations and discusses the firm's approach to taxes and conservatism, stressing that minimizing taxes is secondary to maximizing after-tax compound rate.

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2013 Buffett: Focus on Productivity, Not Quotes - Farms, NYC Commercial Real Estate, and the Index Fund Bequest for His Wife

2013 Buffett: Focus on Productivity, Not Quotes - Farms, NYC Commercial Real Estate, and the Index Fund Bequest for His Wife

This episode consists of Berkshire Hathaway's 2013 Annual Report, featuring a detailed letter from Chairman Warren Buffett alongside comprehensive financial statements. The documents describe the comp...

27 Syys 1h 4min

Buffett’s Capital Allocation Jiu-Jitsu: The 2012 Heinz Deal, Dividend Math & Accounting Realities

Buffett’s Capital Allocation Jiu-Jitsu: The 2012 Heinz Deal, Dividend Math & Accounting Realities

The 2012 Berkshire Hathaway Annual Report consists of the company’s extensive operations across diverse sectors including insurance, freight rail, energy, and manufacturing. In his annual letter, Warr...

21 Syys 1h 2min

2011: All the Gold Ever Mined, Packed into One Cube | Buffett Breaks His “No Tech” Rule to Buy IBM

2011: All the Gold Ever Mined, Packed into One Cube | Buffett Breaks His “No Tech” Rule to Buy IBM

The 2011 Berkshire Hathaway Annual Report details the performance and strategic direction of a vastly diversified holding company led by Warren Buffett and Charlie Munger. It outline a conglomerate st...

13 Syys 50min

2010 Warren Buffett: Any number times zero is still zero — The Oracle of Omaha's lifelong "invincible rule."

2010 Warren Buffett: Any number times zero is still zero — The Oracle of Omaha's lifelong "invincible rule."

This episode comprises the 2010 annual report and a leadership memorandum from Berkshire Hathaway, authored by Warren Buffett. The documents detail the company’s long-term financial performance and it...

7 Syys 48min

2009: Catching the Golden Rain — Berkshire’s Deal of the Century | The Oracle of Omaha Acquires BNSF (Burlington Northern Santa Fe Railway)

2009: Catching the Golden Rain — Berkshire’s Deal of the Century | The Oracle of Omaha Acquires BNSF (Burlington Northern Santa Fe Railway)

This episode consists of the 2009 Berkshire Hathaway Annual Report, featuring a detailed letter from Chairman Warren Buffett to shareholders alongside comprehensive financial disclosures. It outlines ...

31 Elo 48min

The 2008 Financial Crisis Hits: Credit Freezes Across America | Buffett: A Masterclass in Crisis Investing by a Capital Titan

The 2008 Financial Crisis Hits: Credit Freezes Across America | Buffett: A Masterclass in Crisis Investing by a Capital Titan

This episode serves as a comprehensive disclosure of the conglomerate's diverse operational landscape and financial standing during a period of global economic turmoil. Led by Warren Buffett and Charl...

24 Elo 43min

2007: Eve of the Subprime Storm – Wall Street’s Naked Party | Buffett: “You Only Learn Who Has Been Swimming Naked When the Tide Goes Out”

2007: Eve of the Subprime Storm – Wall Street’s Naked Party | Buffett: “You Only Learn Who Has Been Swimming Naked When the Tide Goes Out”

This episode comprises the 2007 Annual Report for Berkshire Hathaway Inc., featuring a detailed letter from Chairman Warren Buffett alongside comprehensive financial statements. The documents outline ...

17 Elo 1h 1min

2006 Buffett Captures TTI Elephant | Bonus: 90-Year-Old Walter Schloss

2006 Buffett Captures TTI Elephant | Bonus: 90-Year-Old Walter Schloss

This episode consists of excerpts from Berkshire Hathaway’s 2006 Annual Report, featuring a detailed letter from Chairman Warren Buffett to his shareholders. These documents highlight the company’s re...

10 Elo 48min

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