Berkshire Hathaway 2010 Letter to Shareholders

A “normal year,” of course, is not something that either Charlie Munger, Vice Chairman of Berkshire and my partner, or I can define with anything…

Over time, the movement of goods in the United States will increase, and BNSF should get its full share of the gain. The railroad will need to invest…

Last year – in the face of widespread pessimism about our economy – we demonstrated our enthusiasm for capital investment at Berkshire by spending $6…

In Berkshire’s case, we long ago told you that our job is to increase per-share intrinsic value at a rate greater than the increase (including…