 "Warren Buffett")
Warren Buffett warned Berkshire Hathaway shareholders that there is "no possibility of eye-popping performance." And that they "should do a bit better".
“There remain only a handful of companies in this country capable of truly moving the needle at Berkshire, and they have been endlessly picked over by us and by others,” Buffett wrote.
Warren Buffett on Saturday moved to reassure investors that his conglomerate Berkshire Hathaway would serve them well over the long term, even as he mourned the recent passing of his longtime second-in-command Charlie Munger. In his widely-read annual letter to Berkshire shareholders Buffett said that there were very few deals that offer the kind of transformative impact past takeovers have had, such as its purchases of insurers Geico and National Indemnity or the BNSF railroad. He also assurerd that his more than $900 billion conglomerate has become a fortress that could withstand even an unprecedented financial disaster and that "Berkshire is built to last," Buffett wrote.
The letter was accompanied by Berkshire's financial results, including a record $37.4 billion operating profit and $96.2 billion net profit for all of 2023. Berkshire's shares have risen by 4,384,748 per cent since Buffett took over in 1965.
