Warren Buffett：Berkshire 2023 Letter, Excerpt 4

We, however, are left uncomfortable. At Berkshire, our view is that “earnings” should be a sensible concept that Bertie will find somewhat useful – but only as a starting point – in evaluating a business. Accordingly, Berkshire also reports to Bertie and you what we call “operating earnings.” Here is the story they tell: $27.6 billion for 2021; $30.9 billion for 2022 and $37.4 billion for 2023.

Source： https://www.berkshirehathaway.com/letters/2023ltr.pdf
Locator：2023 Chairman's Letter, excerpt 4 · Verified：2026-10-19 · Verification：Short excerpt

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