Warren Buffett Annual Letter: The CEO of Berkshire Hathaway, Warren Buffett issued his annual letter to Berkshire Hathaway shareholders on Saturday (26th February 2022). The 91-year-old investing legend has been publicizing the letter for over 60 years now and it has become needed reading for investors throughout the globe. The firm stated it would need proof of vaccination at its forthcoming shareholders’ meeting in Omaha. Continue to read to know the entire letter. Follow More Update On 44bars.com
Warren Buffett Annual Letter
Charlie Munger who is my long-time partner, and I have the job of managing a portion of your savings. We are honored by your trust. Our position carries with it the obligation to report to you what we would like to know if we were the absentee possessor and you were the manager. We enjoy expressing directly with you through this annual letter, and also through the annual meeting.
Our policy is to treat all shareholders equally. Thus, we do not hold discussions with analysts or large institutions. Whenever possible, also we issue important communications on Saturday mornings in order to maximize the time for shareholders and the media in order to absorb the news prior to markets opening on Monday.
A wealth of Berkshire figures and facts are set forth in the annual 10-K that the firm regularly files with the S.E.C and that we reproduce on pages K-1-K-119. Some shareholders will discover this information engrossing; others will simply prefer to learn what Charlie and I believe is new or fascinating at Berkshire. Alike, there was little action of the sort in the year 2021. We did, however, make reasonable progress in expanding the intrinsic value of your shares. That task has been my primary duty for 57 years and it will continue to be.
What You Own
Berkshire owns a huge variety of businesses, some in their entirety, some only in part. The 2nd group largely consists of marketable common stocks of chief American firms. In further addition to this, we own a few non-United States equities and participate in many joint ventures or other collaborative activities.
Whatever our form of ownership, our aim is to have worthy and meaningful investments in businesses with both durable economic advantages and a first-class CEO. Please note especially that we own stocks based upon our expectations about their long-term business performance and not as we watch them as motor vehicles for timely market moves. That particular point is crucial: Charlie and I are not stock-pickers; we are business-pickers.
