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Berkshire Hathaway 1994 Letter to Shareholders
Warren Buffett · Passages from the same work, in order.
Berkshire 1994 Letter, Excerpt 1
The problem is not that what has worked in the past will cease to work in the future. To the contrary, we believe that our formula - the purchase…
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Investing · Modern investor letters
Berkshire 1994 Letter, Excerpt 2
A fat wallet, however, is the enemy of superior investment results. And Berkshire now has a net worth of $11.9 billion compared to about $22…
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Investing · Modern investor letters
Berkshire 1994 Letter, Excerpt 3
We will continue to ignore political and economic forecasts, which are an expensive distraction for many investors and businessmen. Thirty years ago,…
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Investing · Modern investor letters
Berkshire 1994 Letter, Excerpt 4
But, surprise - none of these blockbuster events made the slightest dent in Ben Graham's investment principles. Nor did they render unsound the…
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Investing · Modern investor letters