I give you the key takeaways of Warren Buffett’s 2023 Berkshire Hathaway shareholder letter that came out on February 24, 2024. What will Buffett do with $168 billion cash?!
On the very first page, Buffett shared a beautiful tribute to the late Charlie Munger, whom he called the “Architect of Berkshire Hathaway.”
Buffett always writes his annual letters with shareholders in mind, and this time he featured one of the best investors he knows throughout the letter. You might be surprised to find out who she is!
Throughout the letter, you would learn about Berkshire’s simple goal and its one investment rule:
“Our goal at Berkshire is simple: We want to own either all or a portion of businesses that enjoy good economics that are fundamental and enduring. Within capitalism, some businesses will flourish for a very long time while others will prove to be sinkholes. It’s harder than you would think to predict which will be the winners and losers. And those who tell you they know the answer are usually either self-delusional or snake-oil salesmen.”
“One investment rule at Berkshire has not and will not change: Never risk permanent loss of capital. Thanks to the American tailwind and the power of compound interest, the arena in which we operate has been – and will be – rewarding if you make a couple of good decisions during a lifetime and avoid serious mistakes.”
Despite Buffett disconcertingly mentioning the 2008 Great Financial Crisis three times, he also tries to instill faith, “America has been a terrific country for investors. All they have needed to do is sit quietly, listening to no one.”
Buffett ends with calling all shareholders to Omaha on May 4, 2024. If you’d like to learn how to attend, watch one of my how to attend videos.
If you’re interested in learning how to take control of your finances and start becoming an investor like Warren Buffett, check out my free PDF guide.
I look forward to making more investor friends!
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