Скачать или смотреть 1985 Berkshire Hathaway Letter to Shareholders Audio Version

1985 Berkshire Hathaway Letter to Shareholders Audio Version #BerkshireHathaway #WarrenBuffett #CharlieMunger #Audiobook #investing

Chapters:
0:00 1985 BERKSHIRE HATHAWAY INC. Letter To the Shareholders
7:48 Sources of Reported Earnings
13:51 Shutdown of Textile Business
25:40 Three Very Good Businesses (and a Few Thoughts About Incentive
Compensation)
41:19 Insurance Operations
48:40 Fireman’s Fund Quota-Share Contract
51:29 Marketable Securities
57:38 Capital Cities/ABC, Inc.
1:02:00 Acquisition of Scott & Fetzer
1:05:23 Miscellaneous

The 1985 Berkshire Hathaway Letter to Shareholders Highlights:

• Berkshire’s net worth increased by $613.6 million in 1985, raising per-share book value by 48.2%.
• Major acquisitions included Scott & Fetzer, a group of 17 businesses, and a significant stake in Capital Cities/ABC to support its acquisition of American Broadcasting Companies (ABC).
• Berkshire entered a major quota-share contract with Fireman’s Fund Insurance Company, participating in 7% of its business, and secured another contract exceeding $50 million in 1986.
• The textile operations were closed after decades of subpar performance, with capital reallocated to more promising ventures.
• Nebraska Furniture Mart, See’s Candies, and Buffalo News achieved combined pre-tax earnings of $72 million, reflecting strong management and minimal capital requirements for growth.
• Insurance float grew to $1.5 billion, with improvements in underwriting reducing the combined ratio from 134 in 1984 to 111 in 1985.
• Berkshire recorded significant gains from the sale of securities, including a $338 million pre-tax gain from the sale of General Foods shares.
• Shareholder-designated charitable contributions totaled $4 million, benefiting 1,724 charities.
• The annual meeting attracted over 250 shareholders, featuring engagement opportunities and exclusive discounts at subsidiaries like Nebraska Furniture Mart.
• Warren Buffett emphasized Berkshire’s disciplined acquisition strategy, targeting businesses with consistent earning power, strong management, and good returns on equity.

This is the 1985 Berkshire Hathaway Letter to Shareholders Audio Version written by Warren Buffett. The Berkshire Shareholder Letter may contain the following topics about Charlie Munger, Ajit Jain, Greg Abel, Todd Combs, Ted Weschler, Shareholder Letter, Audiobook, Investing, Value Investing, Intrinsic Value, Earnings, Berkshire Hathaway, Annual Report, Berkshire Hathaway Annual Meeting, Berkshire Hathaway Explained, Berkshire Hathaway Stock Analysis, Berkshire Hathaway Subsidiaries, How To Invest Like Warren Buffett, Warren Buffett Documentary, Warren Buffett Investment Mistakes, Warren Buffett Investment Strategies, Warren Buffett Quotes, Mungerisms, What Makes Warren Buffett A Great Investor, Top Lessons From Warren Buffett