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Berkshire Hathaway Letters to Shareholders, 2023 Kindle Edition

by Warren Buffett (Author), Max Olson (Editor) Format: Kindle Edition
4.7 4.7 out of 5 stars 1,057 ratings
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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-eight letters to shareholders later, the same share traded for $468,711, compounding investor capital at 19.3% per year -- a multiplier of 26,040 times. This book compiles the full, un-edited versions of every one of Warren Buffett's letters to the shareholders from 1965 to 2018, including 1965-1976 letters not available on Berkshire's website. 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.
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  1. Print length
    2133 pages
  2. Language
    English
  3. Sticky notes
    On Kindle Scribe
  4. Publication date
    20 April 2014
  5. File size
    44522 KB
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  1. Both our operating and investment experience cause us to conclude that “turnarounds” seldom turn, and that the same energies and talent are much better employed in a good business purchased at a fair price than in a poor business purchased at a bargain price.
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  2. One of the lessons your management has learned—and, unfortunately, sometimes re-learned—is the importance of being in businesses where tailwinds prevail rather than headwinds.
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  3. Our equity investments are heavily concentrated in a few companies which are selected based on favorable economic characteristics, competent and honest management, and a purchase price attractive when measured against the yardstick of value to a private owner.
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Product details

  • ASIN ‏ : ‎ B00DUM1W3E
  • Publisher ‏ : ‎ Explorist Productions; 10th edition (20 April 2014)
  • Language ‏ : ‎ English
  • File size ‏ : ‎ 44522 KB
  • Simultaneous device usage ‏ : ‎ Unlimited
  • Text-to-Speech ‏ : ‎ Enabled
  • Screen Reader ‏ : ‎ Supported
  • Enhanced typesetting ‏ : ‎ Enabled
  • X-Ray ‏ : ‎ Enabled
  • Word Wise ‏ : ‎ Enabled
  • Sticky notes ‏ : ‎ On Kindle Scribe
  • Print length ‏ : ‎ 2133 pages
  • Customer Reviews:
    4.7 4.7 out of 5 stars 1,057 ratings

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Warren Buffett

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Top reviews from Australia

Stanley
5.0 out of 5 stars Investment theory and practice
Reviewed in Australia on 28 January 2017
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Fantastic book written in a clear and concise manner and occasionally with great humour. A definite must read for those interested in gaining insight into how this great man and businessman thinks and operates his uber successful empire. Pay special attention to:
1.his work in marketable securities which is an area that applys to most investors. The performance is staggering.
2. His thoughts on accounting shenanigans employed by most managements.
3. Managements' compensation
4. His theory on decentralisation of power and bureaucracy at headquarters.
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Tom smith
5.0 out of 5 stars Five Stars
Reviewed in Australia on 5 March 2018
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A template for how the world should be run.
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Ronen Eyal
5.0 out of 5 stars Best reading ever for anyone interested in business and investment
Reviewed in Australia on 8 May 2016
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What a remarkable piece of history, insight and wisdom! That book started me on the road to investment. Warren Buffet is truely a unique person with a true passion for teaching.
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Rohan
5.0 out of 5 stars Absolutely brilliant. No amount of books can cover what these ...
Reviewed in Australia on 21 August 2014
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Absolutely brilliant. No amount of books can cover what these letters do. Real experience, Real predictions, real integrity of the person. Great read
One person found this helpful
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Guri
4.0 out of 5 stars Wisdom of the God of investing!
Reviewed in Australia on 1 January 2021
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Gold
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Derek Black
1.0 out of 5 stars One Star
Reviewed in Australia on 22 April 2015
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quite bland and not very informative
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Top reviews from other countries

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ryan
5.0 out of 5 stars From Cigar-Butts to Great Businesses
Reviewed in the United States on 13 November 2022
Verified Purchase
I learned two simple yet extremely powerful truths from the greatest mind in investment history.

First, buying stocks is buying into the business.

Second, buying a business is about how much cash, discounted to this day, can be taken out from the remaining life of it.

A note with regard to the Kindle e-book:I believe the publisher/author appends to the book the latest annual letters to shareholders as they come. When I purchased it the title was "Berkshire Hathaway Letters to Shareholders, 2018", and now it's up to 2021. However, due to a fundamental computer distributed system problem (see Wikipedia for "Multi-master replication"), my copy does not get these yearly updates due to the fact that I have made notes and highlights, which prevented the book from upgrading to newer versions without conflicts.
2 people found this helpful
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Thiago
5.0 out of 5 stars Excelente!
Reviewed in Brazil on 6 July 2021
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O livro reúne as cartas escritas aos acionistas da Berkshire Hathaway. Repleto de sabedoria, didática e história, esse livro permite que os leitores entendam um pouco melhor a mentalidade de dois dos maiores investidores de todos os tempos.
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M. S.
5.0 out of 5 stars Letters to Shareholders
Reviewed in Germany on 17 December 2023
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Für den Aktionär die Informationsquelle aus allererster Hand.
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Vijay
5.0 out of 5 stars Value Investment
Reviewed in India on 6 September 2021
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must read if you are looking to learn nuisance of good business practices and investment fundamentals.
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Rafael Alcalde Puente
5.0 out of 5 stars Breathtaking learning experience
Reviewed in Mexico on 3 December 2019
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This book containing all the shareholder annual letters of the greatest investor and businessman to ever live is a masterpiece by itself. This is definitely a book every business student (like me) must read, it gives you a glimpse on how do a bast array of industries work, specially the insurance industry which I find so interesting, and how the business world really it's all about common sense, as long as you don't drive your decisions with greed and based upon short term goals, you can do better than average.
This piece of work is the real heritage from Mr. Buffett to the humanity, so much wisdom within.
I also love the good time I had reading it, due to the ease of communication of Warren and his brilliant sense of humor.
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