'If you have a 150 IQ, sell 30 points to someone else. You need to be smart, but not a genius.'
Warren Buffett
LETTER TO BERKSHIRE SHAREHOLDERS (FIRST DRAFT)
Stefano Boscutti
Smashwords Edition
Copyright 2010 Stefano Boscutti
Smashwords Edition, License Notes
This ebook is licensed for your personal enjoyment only. This ebook may not be re-sold or given away to other people. If you would like to share this book with another person, please purchase an additional copy for each recipient. If you’re reading this book and did not purchase it, or it was not purchased for your use only, then please return to Smashwords.com and purchase your own copy. Thank you for respecting the hard work of this author.
This is a work of fiction. While many of the characters portrayed here have counterparts in the life and times of Charlie Munger, the characterizations and incidents presented are totally the products of the author's captivating imagination.
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LETTER TO BERKSHIRE SHAREHOLDERS (FIRST DRAFT)
To the Shareholders of Berkshire Hathaway Inc.
Our gain in net worth during the last fiscal year was, say, $21 billion. (Give or take a few billion. Let me know what you want the final figure to be. Same goes for the increased per-share book value of both our Class A and Class B stock. I suggest pushing it a touch under 20%. Float the annual compound rate at a tad over 20%. Don't forget to add an asterisk to clarify those ridiculous new reporting rules.)
Welcome the new shareholders. Really? 65,000 new hangers-on? God almighty, they'll be the death of us. Probably haven't done a decent day's work in their lives.