Letter to BRK shareholders 2011
Explore the remarkable journey of Berkshire Hathaway in 2011, where both Class A and Class B stocks saw a 4.6% increase in per-share book value. This episode delves into Warren Buffett's reflections on the company's progress, including significant events such as the acquisition of Lubrizol, a global producer of specialty chemicals, and the joining of Todd Combs and Ted Weschler as investment managers. Buffett discusses the challenges and successes across Berkshire's diverse portfolio, from insurance operations to major investments in companies like Bank of America and IBM. Despite some setbacks, such as the underperformance in the housing sector, Buffett's optimistic outlook, rooted in his unwavering belief in America's economic potential, shines through. This episode offers a unique insight into the mind of one of the world's most successful investors, his strategies, and his vision for Berkshire Hathaway's future.