Letter to BRK shareholders 2004
Explore the remarkable journey of Berkshire Hathaway's transformation from a struggling textile business into a diversified powerhouse under the astute leadership of Warren Buffett and Charlie Munger. In this episode, delve into the intricacies of intrinsic value, the guiding principles behind Berkshire's sustained growth, and the critical role of per-share intrinsic value over book value. Buffett offers a candid reflection on Berkshire's performance in 2004, discussing its successes and shortcomings, and outlines his strategies for future acquisitions and investments. This insightful episode also touches on the broader economic implications of trade practices and currency trends, providing a unique perspective on global financial dynamics. Tune in to gain valuable insights from one of the world's most successful investors.