沃伦·巴菲特：伯克希尔 2005 年致股东信·摘录3

Before we look at our individual businesses, however, let’s review two sets of figures that show where we’ve come from and where we are now. The first set is the amount of investments (including cash and cash-equivalents) we own on a per-share basis. In making this calculation, we exclude investments held in our finance operation because these are largely offset by borrowings:

出处： https://www.berkshirehathaway.com/letters/2005ltr.pdf
定位：2005 Chairman's Letter, excerpt 3 · 核对日期：2026-10-19 · 核验：短摘录

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