Berkshire Hathaway Letter 2021 (

To the Shareholders of Berkshire Hathaway Inc.:

Charlie Munger, my long-time partner, and I have the job of managing a portion of your savings. We arehonored by your trust.Our position carries with it the responsibility to report to you what we would like to know if we were theabsentee owner and you were the manager. We enjoy communicating directly with you through this annual letter, andthrough the annual meeting as well.Our policy is to treat all shareholders equally. Therefore, we do not hold discussions with analysts nor largeinstitutions. Whenever possible, also, we release important communications on Saturday mornings in order tomaximize the time for shareholders and the media to absorb the news before markets open on Monday.A wealth of Berkshire facts and figures are set forth in the annual 10-K that the company regularly files withthe S.E.C. and that we reproduce on pages K-1 – K-119. Some shareholders will find this detail engrossing; otherswill 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. We did, though, make reasonable progress in increasing theintrinsic value of your shares. That task has been my primary duty for 57 years. And it will continue to be.

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Posted by The Librarian

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Berkshire Hathaway Letter 2022 (

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