Warren Buffett：Berkshire 2005 Letter, Excerpt 4

In addition to these marketable securities, which with minor exceptions are held in our insurance companies, we own a wide variety of non-insurance businesses. Below, we show the pre-tax earnings (excluding goodwill amortization) of these businesses, again on a per-share basis:

Source： https://www.berkshirehathaway.com/letters/2005ltr.pdf
Locator：2005 Chairman's Letter, excerpt 4 · Verified：2026-10-19 · Verification：Short excerpt

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