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Ha, well we are basically at book now just round up a little, plus with the 10k filing book should come down a tad with all of the stocks in his portfolio declining such as Ferrari and Cracker Barrel. I see your point can make an argument isn’t loved but going from extreme hate to a little hate seems like some love, maybe a toxic kind of love, ha. Definitely love from the millions from new buyers in the last six months for an almost 200 percent annualized gain.

This went from hated for a decade to loved. classic Mr market example from Ben graham. Still alive 90 years after he wrote security analysis.

For those that don’t like the physical copy just order one for your kindle. 1) it arrives instantly; 2) one can adjust the font; 3)it’s easier to carry around if one has to travel a lot

In February of 2026 will be the first letter since 1956 a letter didn’t go out to at least a handful of people. another way to to look at it is since 1951 without a publication of a letter when he wrote the security I like best. wrap your heads around that, first time in 75 years! I don’t even want to talk about it anymore it’s so depressing.

Buffett’s farewell letter will be released tomorrow. it sounds depressing as hell to me. i was so excited every February to read his shareholder letter and then see him in Omaha. I’ll have to get use to reading a letter from Greg and seeing him on the stage without Warren.

Don’t forget there isn’t s movie so he is still taking questions for 4.5 hours. prior years I think was 9-330 and 1 hour for lunch so it’s the same amount of time?

That would be amazing if you are able to! I will definitely buy your next book! I feel Munger’s partnership years are so neglected, yes we know about the closed end fund and blue chips making up 75 percent roughly in the early 70’s but any anecdotes, data points would be very welcome as Charlie was a hero of one and I miss him very much.

Brett, I loved the book. any chance you have time to do the same thing for Charlie’s investment partnership years? a logical title would be Munger’s early investments.

It’s a very well researched book. i love the parts where Buffett would talk to front line employees for hours and I think counted some type of product (not Amex) for several hours. I need to read it again. Amex was the only part that has been repeated several times in other books. Almost the entire book (excluding Amex) is information I haven’t read before. Great job by the author. I wish he would have been on the investors podcast at that covered the book.

I can’t speak for Brett but he put in the book Buffett didn’t cooperate but sent him a letter wishing him good luck. i think it’s in the preface.

I don’t mind his daily email. It’s actually not bad and it’s free. I ignore anything about (must act immediately and all of his sales stuff). I was annoyed from his email yesterday about Netflix. He said he sold too soon and hang on to a great company, which I agree, but he completely lost me when he said what he should have done with Netflix after selling way too soon is put in a bunch of stop losses and gradually sell out the more the stock dropped. wtf? This guy is a baker scholar from HBS and went to every Berkshire meeting for almost 30 years! That’s one of the dumbest things I’ve ever heard. He argues it’s an amazing company and his logic is stop losses? pretty fascinating actually from a sociological standpoint how someone can have 30 years to study such a simple concept and completely get it wrong.

Thanks for posting that sheds light why he didn’t buy them but still not sure why he never bought the stock (or maybe he did and I’m not aware). I know his comments about Walmart and google that he just missed them due to price wasn’t low enough for the former and missed it on the latter but he has to know progressive better than anyone else in the world so really odd he missed buying the common for decades especially after 2008 and in 2020 during large corrections. oh well, can’t win them all.

Maybe if we get another 50 percent draw down like in 73-74 Berkshire could get it for under 100 bill, but at that point it would be up to Greg if he wanted to test a future government as Buffett has only a few years left, unfortunately.

At 122 billion Buffett could still afford it, but I doubt the government would allow it, guess this one falls under the errors of omission column if Buffett were to be asked this question.

Random question, but could Berkshire buy Progressive or would the government try and block it? seems a logical acquisition as Buffett has long admired progressive and it has been outperforming Geico for a long time.