Carol Loomis, Warren Buffett and Coastal States Gas

[jollyjumper324]

Hello All!

 

I was listening to the Longform Podcast interview with Carol Loomis and Loomis mentioned something that piqued my curiosity at around 28:55:

http://longform.org/posts/longform-podcast-152-carol-loomis?t=28m56s

 

She talks about how upon first meeting Buffett in 1967, they clicked on a little bit of financial minutia where they had both been looking at a company, Coastal States Gas, where there were revenues in the footnotes that weren't in the financial statements. I looked for more about this incident and found this interview:

http://www.marketplace.org/2015/04/29/business/big-book/warren-buffett-jamie-dimon-treasury-secretary-fiscal-cliff-and-taxes

 

After some digging, I found the annual reports she was talking about. It's an interesting situation. Screenshots are attached.

[djcattlco]

Thanks Jollyjumper324 for the post.  Interesting!

[Poor Charlie]

Jolly

 

Thank you for sharing this! 

 

If you have them would you mind posting the annual reports you got the screenshots from.

 

 

Thanks

[jollyjumper324]

Reports attached.

Coastal_States_Gas_-_AR_-_1965.pdf

Coastal_States_Gas_-_AR_-_1966.pdf

[Poor Charlie]

Reports attached.

 

Thanks!

[JBird]

Thanks for posting-- that's great stuff.