Berkshire Hathaway 2011 Letter to Shareholders

Your Board is equally enthusiastic about my successor as CEO, an individual to whom they have had a great deal of exposure and whose managerial and…

• Our major businesses did well last year. In fact, each of our five largest non-insurance companies – BNSF, Iscar, Lubrizol, Marmon Group and…

• In total, our entire string of operating companies spent $8.2 billion for property, plant and equipment in 2011, smashing our previous record by…

• Our insurance operations continued their delivery of costless capital that funds a myriad of other opportunities. This business produces “float” –…