Letter Tommorrow

will be interesting.

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It always is…though it has been a bit of a let-down the last few years.
Business as usual, which is good, but nothing exciting.
No new big investments. No big revelations.

Price action was odd yesterday. Couldn’t resist picking up a few “trading” shares.
Near the low as it turned out. Dumb luck.

The letters are certainly shorter and filled with less teaching nuggets, but he has shared enormous wisdom and taught for over 70 years that I understand. I still very eagerly await to read every well-written word from Warren and the report then reread the letter a couple times to try to absorb the more subtle and between the lines points (like the buyback hints and positive viewpoint of FAANGs years ago)No doubt, I realize these subtleties better as a seasoned shareholder having heard and read “Warren speak” for days on end than when I was a newbie. I set the alarm & delicately told the family “Do not disturb” for the am tomorrow! Will immediately scroll to the buybacks near the end and hoping for another 6-8B in Q4.

Also bought a bit more Bs @301 yesterday. Been quite a nice year for the “boring” and patient BRK owners who believe in real & future earnings, productive assets and that price still matters. Cheers to all and enjoy the Report!


I read recently that Carol Loomis who recently turned 92 and who helped Warren with the letter has retired. I’m not sure how much she added aside from her substantial editing skills but Carol was a very respected writer for many decades at Fortune magazine so her contributions probably cannot be underestimated.
I have low expectations for the letter but have hopes that I will be surprised to the upside. With no acquisitions and succession pretty much in place I’m not sure what else there is to talk about?
I’m most interested in how many shares were repurchased and at what price.

I hope everyone has a good weekend.

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" I’m not sure what else there is to talk about? "

Warren should talk about his two kids on the Board.


will be interesting.

Some shareholders will find this detail engrossing; others will simply prefer to learn what Charlie and I believe is new or interesting at Berkshire.

Alas, there was little action of that sort in 2021.