Warren Buffet reveals annual shareholders letter

Warren Buffet released his annual shareholders letter on Saturday.
By Ian Marsh | Feb 25, 2017
Warren Buffet released his annual shareholders letter on Saturday.

In the letter, the Berkshire Hathaway Chief Exectutive Officer, praised the company. Berkshire Hathaway reported a 2016 profit of over $27 billion. That was over a 10 percent increase from the previous year. The company now stands at $172,108 per Class A equivalent share. In his letter, Buffet spoke on the value of a diverse collection of investments as opposed to focusing on debt securities. The optimistic "Oracle of Omaha" thanked the Vice Chairman of Berkshire Hathaway, Charlie Munger.

"Charlie and I have no magic plan to add earnings except to dream big and to be prepared mentally to act fast when opportunities present themselves," read the letter. "Every decade or so, dark clouds will fill the economic skies, and they will briefly rain gold. When downpours of that sort occur, it's imperative that we rush outdoors carrying washtubs, not teaspoons. And that we will do."

Although he attempted to avert any political commentary, Buffett did extol the value of having immigrant labor come into the United States of America.

"Our efforts to materially increase the normalized earnings of Berkshire will be aided as they have been throughout our managerial tenure by America's economic dynamism," said Buffett. "One word sums up our country's achievements: miraculous. From a standing start 240 years ago a span of time less than triple my days on earth Americans have combined human ingenuity, a market system, a tide of talented and ambitious immigrants, and the rule of law to deliver abundance beyond any dreams of our forefathers."


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