Warren Buffett：Berkshire 1983 Letter, Excerpt 3

o Because of this two-pronged approach to business ownership and because of the limitations of conventional accounting, consolidated reported earnings may reveal relatively little about our true economic performance. Charlie and I, both as owners and managers, virtually ignore such consolidated numbers. However, we will also report to you the earnings of each major business we control, numbers we consider of great importance. These figures, along with other information we will supply about the individual businesses, should generally aid you in making judgments about them.

Source： https://www.berkshirehathaway.com/letters/1983.html
Locator：1983 Chairman's Letter, excerpt 3 · Verified：2026-10-19 · Verification：Short excerpt

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