September 29, 2022

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- Failed to find companies that meet our criteria - E24

– Failed to find companies that meet our criteria – E24

Investment firm Berkshire Hathaway had about 80 percent of the stock in New Year’s. This makes the “Omaha fortune teller” self-critical.

“Oracle from Omaha”: Investor legend Warren Buffett released his annual letter to shareholders on Saturday afternoon.

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Berkshire Hathaway increased its operating profit by 45 percent to $7.29 billion in the fourth quarter. Earnings after taxes increased to $39.65 billion, compared to $35.84 billion.

In total, the company’s balance sheet is now about $144 billion, CEO and investor legend Warren Buffett says in his annual letter to shareholders that comes with the quarterly report.

In good tradition, Buffett draws the lines in the history of a shareholder letter. This time he wrote on March 11, 1942 he bought three shares at 114.75 crowns apiece, which demanded all his savings.

Later, he always had at least 80 percent of his wealth in stocks, he writes and assures that he prefers to invest all the money in stocks.

Berkshire now owns about 80 percent of the value invested in stocks. It is a consequence of the fact that I have failed to find whole companies or smaller parts that meet our criteria for long-term investments, Buffett wrote in the shareholder letter.

The investor legend letter is one of the most widely read shareholder letters in the world. Buffett has been writing the letter annually since 1965.

Unlike most other companies in the world, Berkshire Hathaway strives to publish important company information on Saturdays whenever possible. The reason is that “more time” for shareholders and the media to “absorb the news” before the markets open after the weekend, as Buffett himself explained.

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