• The Blog

    Thoughts, musings, and ruminations.

  • The Blog

    Thoughts, musings, and ruminations.

    April 16, 2020 · Value Investing
    The original 2018 Shareholder letter can be found here (https://www.berkshirehathaway.com/letters/2018ltr.pdf). Focus on what's real, and what's accounting. Immediately in the first page, WB repeated his point that it's very crucial to understand what's real and what's not real in "accounting...
    A Disastrous Chain Reaction Here in Singapore, the government unleashed an unprecedented third budget in a short span of months, and at least for the month of April, is paying 75% of wages (capped at the median salary of 4,600). With the bigger landlords stepping into the gulf by giving some...
    March 17, 2020 · Value Investing
    The original 2017 Shareholder letter can be found here (https://www.berkshirehathaway.com/letters/2017ltr.pdf) Focus on what's real, and not what's accounting In the first section, WB quickly goes out to emphasise that it's very important for shareholders (and business owners) to focus on...
    March 6, 2020 · Value Investing
    The original 2019 Shareholder letter can be found here (https://www.berkshirehathaway.com/letters/2019ltr.pdf) The Importance of Operating and Retained Earnings In this letter, WB emphasised the importance of operating and retained earnings; and opined that these numbers are more "real-world"...
    February 26, 2020 · Value Investing
    The original 2014 Shareholder letter can be found here (https://www.berkshirehathaway.com/letters/2014ltr.pdf) The American Tailwind Again, on this 50th anniversary, WB exudes his happiness and luck in being in America. Invest in Stocks, not cash In the previous letter, WB shared his...
    February 21, 2020 · Value Investing
    The original 2013 Shareholder letter can be found here (https://www.berkshirehathaway.com/letters/2013ltr.pdf) Intrinsic Value and Book Value For many decades, WB has repeated that the Intrinsic Value of Berkshire is far greater than the Book Value, and even though the book value per share is...
    February 12, 2020 · Value Investing
    The original 2012 Shareholder letter can be found here (https://www.berkshirehathaway.com/letters/2012ltr.pdf) Doing better than benchmark This is an interesting letter because it marks 4 or 5 years after the Global Financial Crisis of '08, where the S&P500 went on the longest bull run in...
    February 6, 2020 · Value Investing
    The original 2011 Shareholder letter can be found here (https://www.berkshirehathaway.com/letters/2011ltr.pdf) You are buying a business As always, WB reminds everyone that you should view any new investments as though you are buying the whole company, and make your calculations as such. If...
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