The Letters, hardcover
All sixty letters in one volume, typeset from the originals with the tables restored. 968 pages.
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In April 1965 Warren Buffett’s partnership bought control of Berkshire Hathaway, a textile maker in New Bedford, Massachusetts. In the nine years before, it had sold $530 million of cloth and lost $10 million doing it. A share cost about $18. At the end of 2024 it was $680,920.
Buffett used the mill’s cash to buy an insurer, National Indemnity, in 1967. Insurance float paid for much of what came next, and Charlie Munger pushed him from cheap businesses to great ones: See’s Candies, GEICO, Coca-Cola, a railroad. The mill closed in 1985. Every year Buffett wrote to the shareholders to explain what he had done, the mistakes included.
All sixty letters in one volume, typeset from the originals with the tables restored. 968 pages.
Every letter online, free, with the annual meeting transcripts, full-text search, and the sixty-year chart you can drag. Opening with the relaunch.
The same text, searchable on a screen.
Fifty years of the price, book value and big investments, 1964 to 2014, on one 36 by 24 inch sheet.
The letters from the trading-stamp company Buffett and Munger used to buy See’s Candies.
New stories, early looks at what we’re making, and the good stuff we find along the way.