Buffett's Letter to Shareholders

The Essential Difference Between Warren Buffett's "Owner Earnings" and EBITDA Warren Buffett emphasizes "Owner Earnings" as a metric for evaluating a company's true profitability in value investing, w...

What Buffett Most Wants to Convey: A Life Philosophy After reading all of Buffett’s shareholder letters, I believe what he most wants to impart to the world is not merely an investment formula, but a ...

How Does Warren Buffett Handle Regret Over Missed Investment Opportunities (Such as Google)? Warren Buffett, a leading figure in value investing, has frequently discussed the regret stemming from miss...

Why Does Buffett Oppose Splitting Berkshire Hathaway? As Chairman of Berkshire Hathaway, Warren Buffett has clearly expressed his opposition to stock splits in multiple shareholder letters.

Warren Buffett's Stance on Complex Financial Derivatives Warren Buffett maintains a highly cautious and critical stance toward complex financial derivatives.

How to Apply Buffett's Investment Principles to Today's SaaS Companies? What Are Their "Moats"? Overview of Buffett's Investment Principles As a representative of value investing, Warren Buffett's pri...

What Does Buffett's Loss on IBM Investment Indicate? Was It a Failure in Judging His Circle of Competence? Buffett's investment in IBM indeed ended in a loss (purchased in 2011, sold in 2017, with a l...

Why Did Buffett Admit Berkshire's Textile Business Was a Failed Investment, Yet Persist for So Long Before Closing It? Berkshire Hathaway was originally a textile company.

Answer Investing in American Express during the "salad oil scandal" perfectly illustrates Warren Buffett's investment principle: "Be fearful when others are greedy and greedy when others are fearful.

Was the investment in BYD Buffett's decision or Munger's decision? The investment in BYD was primarily Charlie Munger’s decision. In 2008, Munger conducted in-depth research on BYD and strongly recomm...

Was Saving Salomon Brothers the Most Perilous Moment in Buffett's Life? Yes, the rescue of Salomon Brothers is widely regarded as one of the most perilous moments in Warren Buffett's life.

Why Did the Acquisition of See's Candies Have a Profound Impact on Buffett and Munger's Investment Philosophy? In 1972, Berkshire Hathaway acquired See's Candies for $25 million.

Why Does Warren Buffett Consider Market Prediction a "Fool's Game"? As a leading figure in value investing, Warren Buffett has repeatedly emphasized in his shareholder letters that attempting to predi...

Buffett's Most Critical Consideration in Selecting a Successor According to Buffett's statements in his shareholder letters, the most crucial factor in selecting a successor for Berkshire Hathaway is ...

How Does Buffett Define "Shareholder-Friendly" Management? Warren Buffett, in his shareholder letters, defines "shareholder-friendly" management as executives who run the company as if it were their o...

Berkshire Hathaway's Decentralized Model: Secret Sauce or Potential Weakness? Berkshire Hathaway is renowned for its highly decentralized management model, with a headquarters staffed by only a few do...

Does Warren Buffett Prioritize Historical Performance or Future Potential When Evaluating a Company? As a leading figure in value investing, Warren Buffett places greater emphasis on a company's futur...

Why Does Warren Buffett Almost Never Invest in IPOs (Initial Public Offerings)? As a leading figure in value investing, Warren Buffett rarely participates in IPO investments due to his investment phil...

Warren Buffett's Three-Word Definition of a "Wonderful Business" Economic Moat: A sustainable competitive advantage that protects the business from rivals.

Why Does Warren Buffett Say "Accounting is the Language of Business"? Warren Buffett has repeatedly emphasized in his shareholder letters that "accounting is the language of business" because accounti...