BERKSHIRE HATHAWAY INC. is an American multinational conglomerate
holding company headquartered in Omaha ,
United States .
The company wholly owns
BNSF Railway ,
Lubrizol , Fruit of the
Helzberg Diamonds , FlightSafety
International , Pampered Chef
NetJets , and also owns 26.7% of the
Kraft Heinz Company , and
significant minority holdings in
American Express (17.0%), The
Coca-Cola Company (9.4%),
Wells Fargo (9.9%),
IBM (6.9%) and Apple
(2.5%). Since 2016, the company has acquired large holdings in the
major US airline carriers and is currently the largest shareholder in
United Airlines and
Delta Air Lines and a top 3 shareholder in
Southwest Airlines and
American Airlines .
Berkshire Hathaway has
averaged an annual growth in book value of 19.0% to its shareholders
since 1965 (compared to 9.7% from the
S&P 500 with dividends included
for the same period), while employing large amounts of capital, and
The company is known for its control and leadership by Warren Buffett
, who is the company's
Chairman of the Board, President, and Chief
Executive Officer, and
Charlie Munger , the company's Vice-
the Board of Directors. In the early part of Buffett's career at
Berkshire, he focused on long-term investments in publicly traded
companies, but more recently he has more frequently bought whole
companies. Berkshire now owns a diverse range of businesses including
confectionery , retail , railroad , home furnishings , encyclopedias ,
manufacturers of vacuum cleaners , jewelry sales, newspaper publishing
, manufacture and distribution of uniforms , and several regional
electric and gas utilities .
According to the
Forbes Global 2000 list and formula, Berkshire
Hathaway is the fourth largest public company in the world, and the
9th largest conglomerate by revenue.
Berkshire is currently the 7th largest company in the S">
Berkshire Cotton Mills, Adams, Mass. Hathaway Mills, New
Berkshire Hathaway traces its roots to a textile manufacturing
company established by
Oliver Chace in 1839 as the Valley Falls
Company in Valley Falls,
Rhode Island . Chace had previously worked
Samuel Slater , the founder of the first successful textile mill
in America. Chace founded his first textile mill in 1806. In 1929 the
Valley Falls Company merged with the Berkshire Cotton Manufacturing
Company established in 1889, in
Adams, Massachusetts . The combined
company was known as
Berkshire Fine Spinning Associates .
Berkshire Fine Spinning Associates merged with the Hathaway
Manufacturing Company which had been founded in 1888 in New Bedford,
Horatio Hathaway with profits from whaling and the
China Trade . Hathaway had been successful in its first decades, but
it suffered during a general decline in the textile industry after
World War I
World War I . At this time, Hathaway was run by
Seabury Stanton ,
whose investment efforts were rewarded with renewed profitability
after the Depression . After the merger
Berkshire Hathaway had 15
plants employing over 12,000 workers with over $120 million in revenue
and was headquartered in New Bedford . However, seven of those
locations were closed by the end of the decade, accompanied by large
Warren Buffett began buying stock in Berkshire Hathaway
after noticing a pattern in the price direction of its stock whenever
the company closed a mill. Eventually, Buffett acknowledged that the
textile business was waning and the company's financial situation was
not going to improve. In 1964, Stanton made an oral tender offer of
$11 1⁄2 per share for the company to buy back Buffett's shares.
Buffett agreed to the deal. A few weeks later,
Warren Buffett received
the tender offer in writing, but the tender offer was for only
$11 3⁄8. Buffett later admitted that this lower, undercutting
offer made him angry. Instead of selling at the slightly lower price,
Buffett decided to buy more of the stock to take control of the
company and fire Stanton (which he did). However, this put Buffett in
a situation where he was now majority owner of a textile business that
Buffett initially maintained Berkshire's core business of textiles,
but by 1967, he was expanding into the insurance industry and other
investments. Berkshire first ventured into the insurance business with
the purchase of
National Indemnity Company . In the late 1970s,
Berkshire acquired an equity stake in the Government Employees
Insurance Company (
GEICO ), which forms the core of its insurance
operations today (and is a major source of capital for Berkshire
Hathaway's other investments). In 1985, the last textile operations
(Hathaway's historic core) were shut down.
In 2010, Buffett claimed that purchasing
Berkshire Hathaway was the
biggest investment mistake he had ever made, and claimed that it had
denied him compounded investment returns of about $200 billion over
the subsequent 45 years. Buffett claimed that had he invested that
money directly in insurance businesses instead of buying out Berkshire
Hathaway (due to what he perceived as a slight by an individual),
those investments would have paid off several hundredfold.
On June 8, 2017, it was announced that
Berkshire Hathaway had settled
with California's insurance regulator, allowing its Applied
Underwriters unit to sell a revised version of its "controversial"
compensation insurance policies for workers in the state.
Kiewit Tower , the location of Berkshire's corporate offices in
Berkshire's class A shares sold for $258,000.00 as of March 20, 2017
, making them the highest-priced shares on the New York Stock Exchange
, in part because they have never had a stock split and have only paid
a dividend once since
Warren Buffett took over, retaining corporate
earnings on its balance sheet in a manner that is impermissible for
mutual funds . Shares closed over $100,000 for the first time on
October 23, 2006. Despite its size, Berkshire had for many years not
been included in broad stock market indices such as the S however,
following a 50-to-1 split of Berkshire's class B shares in January
2010, and Berkshire's announcement that it would acquire the
Burlington Northern Santa Fe Corporation , parent of
BNSF Railway ,
Berkshire replaced BNSF in the S"> , Buffett owned 31.7% aggregate
voting power of Berkshire's shares outstanding and 18.0% of the
economic value of those shares. Berkshire's vice-chairman, Charlie
Munger , also holds a stake big enough to make him a billionaire, and
early investments in Berkshire by
David Gottesman and Franklin Otis
Booth, Jr. resulted in their becoming billionaires as well. Bill Gates
Investment LLC is the second largest shareholder of
Berkshire and owns more than 5% of class B shares.
Berkshire Hathaway has never split its Class A shares because of
management's desire to attract long-term investors as opposed to
short-term speculators . However,
Berkshire Hathaway created a Class B
stock, with a per-share value originally kept (by specific management
rules) close to 1⁄30 of that of the original shares (now Class A)
and 1⁄200 of the per-share voting rights, and after the January
2010 split, at 1⁄1,500 the price and 1⁄10,000 the voting
rights of the Class-A shares. Holders of class A stock are allowed to
convert their stock to Class B, though not vice versa. Buffett was
reluctant to create the class B shares, but did so to thwart the
creation of unit trusts that would have marketed themselves as
Berkshire look-alikes. As Buffett said in his 1995 shareholder letter:
"The unit trusts that have recently surfaced fly in the face of these
goals. They would be sold by brokers working for big commissions,
would impose other burdensome costs on their shareholders, and would
be marketed _en masse_ to unsophisticated buyers, apt to be seduced by
our past record and beguiled by the publicity Berkshire and I have
received in recent years. The sure outcome: a multitude of investors
destined to be disappointed."
Berkshire's annual shareholders' meetings, taking place in the
CenturyLink Center in Omaha, Nebraska, are routinely visited by 20,000
people. The 2007 meeting had an attendance of approximately 27,000.
The meetings, nicknamed "
Woodstock for Capitalists", are considered
Omaha's largest annual event along with the baseball College World
Series . Known for their humor and light-heartedness, the meetings
typically start with a movie made for Berkshire shareholders. The 2004
Arnold Schwarzenegger in the role of "The Warrenator"
who travels through time to stop Buffett and Munger's attempt to save
the world from a "mega" corporation formed by
Wal-Mart . Schwarzenegger is later shown arguing in a gym with
Buffett regarding Proposition 13 . The 2006 movie depicted actresses
Jamie Lee Curtis and
Nicollette Sheridan lusting after Munger. The
meeting, scheduled to last six hours, is an opportunity for investors
to ask Buffett questions.
The salary for the CEO is $100,000 per year with no stock options,
which is among the lowest salaries for CEOs of large companies in the
The current members of the board of directors of Berkshire Hathaway
Warren Buffett (CEO),
Charlie Munger ,
Walter Scott, Jr. , Thomas
S. Murphy ,
Howard Graham Buffett (Warren's son),
Ronald Olson ,
David Gottesman ,
Bill Gates , Steve Burke , Susan
Decker , and Meryl Witmer.
In May 2010, Buffett, months away from his 80th birthday, said he
would be succeeded at
Berkshire Hathaway by a team consisting of a CEO
and three or four investment managers; each of the latter would be
responsible for a "significant portion of Berkshire's investment
portfolio". Five months later, Berkshire announced that
Todd Combs ,
manager of the hedge fund Castle Point Capital, would join them as an
investment manager . On September 12, 2011, Berkshire Hathaway
announced that 50-year-old
Ted Weschler , founder of Peninsula Capital
Advisors, will join Berkshire in early 2012 as a second investment
In Berkshire Hathaway's annual shareholder letter dated February 25,
2012, Buffett said that his successor as CEO had been chosen
internally but not named publicly. While the intent of this message
was to bolster confidence in the leadership of a "Buffett-less
Berkshire", critics have noted that this strategy of choosing a
successor without a concrete exit strategy for the sitting CEO often
leaves an organization with fewer long term options, while doing
little to calm shareholder fear.
In June 2014, the firm's cash and cash equivalents rose past $50
billion, the first time it finished a quarter above that level since
Buffett became chairman and chief executive officer.
BUSINESSES AND INVESTMENTS
Insurance and reinsurance business activities are conducted through
approximately 70 domestic and foreign-based insurance companies.
Berkshire’s insurance businesses provide insurance and reinsurance
of property and casualty risks primarily in the United States. In
addition, as a result of the
General Re acquisition in December 1998,
Berkshire’s insurance businesses also includes life, accident, and
health reinsurers, as well as internationally based property and
casualty reinsurers. Berkshire’s insurance companies maintain
capital strength at exceptionally high levels. This strength
differentiates Berkshire’s insurance companies from their
competitors. Collectively, the aggregate statutory surplus of
Berkshire’s U.S. based insurers was approximately $48 billion as of
December 31, 2004 . All of Berkshire’s major insurance subsidiaries
are rated AAA by Standard & Poor’s Corporation , the highest
Financial Strength Rating assigned by Standard "> . General Re
subsidiaries currently conduct global reinsurance business in
approximately 72 cities and provide reinsurance coverage worldwide.
General Re operates the following reinsurance businesses: North
American property/casualty, international property/casualty, which
principally consists of
Cologne Re and the Faraday operations, and
life/health reinsurance. General Re’s reinsurance operations are
primarily based in Stamford, Connecticut, and Cologne, Germany .
General Re is one of the largest reinsurers in the world based on net
premiums written and capital.
* NRG (Nederlandse Reassurantie Groep) – Berkshire acquired NRG,
a Dutch life reinsurance company, from
ING Group in December 2007.
Berkshire Hathaway Assurance – Berkshire created a government
bond insurance company to insure municipal and state bonds . These
type bonds are issued by local governments to finance public works
projects such as schools, hospitals, roads, and sewer systems. Few
companies are capable of competing in this area.
UTILITIES AND ENERGY GROUP
Berkshire currently holds 89.8% of the
Berkshire Hathaway Energy . At
the time of purchase, Berkshire's voting interest was limited to 10%
of the company's shares, but this restriction ended when the Public
Utility Holding Company Act of 1935 was repealed in 2005. A major
Berkshire Hathaway Energy is
Northern Powergrid , which
operates in the UK.
Until a name change on April 30, 2014,
Berkshire Hathaway Energy was
known as MidAmerican Energy Holdings Co.
On July 7, 2017, the company announced it would be acquiring Energy
Future Holdings .
MANUFACTURING, SERVICE AND RETAILING
Berkshire’s clothing businesses include manufacturers and
distributors of a variety of clothing and footwear. Businesses engaged
in the manufacture and distribution of clothing include Union
Underwear Corp. –
Fruit of the Loom , Garan , Fechheimer Brothers
Russell Corporation . Berkshire’s footwear businesses include
H.H. Brown Shoe Group ,
Acme Boots ,
Brooks Sports and
Justin Brands .
Justin Brands is made up of
Chippewa Boots ,
Justin Boots , Justin
Nocona Boots , and
Tony Lama Boots . Berkshire
Fruit of the Loom on April 29, 2002 for $835 million in cash.
Fruit of the Loom, headquartered in
Bowling Green, Kentucky , is a
vertically integrated manufacturer of basic clothing. Berkshire
Russell Corporation on August 2, 2006 for $600 million or
$18.00 per share.
In August 2000, Berkshire entered the building products business with
the acquisition of Acme Building Brands . Acme, headquartered in Fort
Worth, Texas , manufactures and distributes clay bricks (Acme Brick),
concrete block (Featherlite) and cut limestone (Texas Quarries). It
expanded its building products business in December 2000, when it
Benjamin Moore & Co. of
Montvale, New Jersey . Moore
formulates, manufactures and sells architectural coatings that are
available primarily in the
United States and Canada.
In 2001, Berkshire acquired three additional building products
companies. In February, it purchased
Johns Manville which was
established in 1858 and manufactures fiber glass wool insulation
products for homes and commercial buildings, as well as pipe, duct and
equipment insulation products. In July, Berkshire acquired a 90%
equity interest in MiTek Inc., which makes engineered connector
products, engineering software and services, and manufacturing
machinery for the truss fabrication segment of the building components
industry and is headquartered in
Chesterfield, Missouri . Finally in
2001, Berkshire acquired 87 percent of
Dalton, Georgia -based Shaw
Industries , Inc. Shaw is the world’s largest carpet manufacturer
based on both revenue and volume of production and designs and
manufactures over 3,000 styles of tufted and woven carpet and laminate
flooring for residential and commercial use under approximately 30
brand and trade names and under certain private labels. In 2002,
Berkshire Acquired the remaining 12.7 percent of Shaw.
On August 7, 2003, Berkshire acquired
Clayton Homes , Inc. Clayton,
Knoxville, Tennessee , is a vertically integrated
manufactured housing company. At year-end 2004, Clayton operated 32
manufacturing plants in 12 states. Clayton’s homes are marketed in
48 states through a network of 1,540 retailers, 391 of which are
company-owned sales centers. On May 1, 2008, Mitek acquired Hohmann &
Barnard, a fabricator of anchors and reinforcement systems for masonry
and on October 3 of that year, Mitek acquired Blok-Lok, Ltd. of
Toronto, Canada. On April 23, 2010, Mitek acquired the assets of
Dayton Superior .
In 1996, Berkshire acquired FlightSafety
International Inc. (or FSI),
founded in 1951 by
Albert Lee Ueltschi . FSI’s corporate
headquarters is located at
LaGuardia Airport in
Flushing, New York .
It supplies high technology pilot training to aircraft operators in
the fields of military, governmental, corporate, and regional or
mainline flying. FlightSafety is the world's leading provider of
professional aviation training services. According to its website, the
company has 1,800 instructors and offers more than 4,000 individual
courses for 135 aircraft types, using more than 320 flight simulators
to serve customers from 167 countries.
NetJets Inc. in 1998.
NetJets is the world’s
leading provider of fractional ownership programs for general aviation
aircraft. In 1986,
NetJets created the fractional ownership of
aircraft concept and introduced its
NetJets program in the United
States with one aircraft type. In 2004, the
NetJets program operated
15 aircraft types with a fleet size of nearly 650.
The home furnishings businesses are the
Furniture Mart , RC
Willey Home Furnishings , Star
Furniture Company, and Jordan’s
Furniture, Inc. CORT Business Services Corporation was acquired in
2000 by an 80.1% owned subsidiary of Berkshire and is the leading
national provider of rental furniture, accessories and related
services in the “rent-to-rent” segment of the furniture rental
In May 2000, Berkshire purchased
Ben Bridge Jeweler , a chain of
jewellery stores established in 1912 with locations primarily in the
western United States. This joined Berkshire's other jeweler
Helzberg Diamonds . Helzberg is a chain of jewelry stores
based in Kansas City that began in 1915 and became part of Berkshire
In 2002, Berkshire acquired The
Pampered Chef , Ltd., the largest
direct seller of kitchen tools in the United States. Products are
researched, designed and tested by The Pampered Chef, and manufactured
by third party suppliers. From its Addison, Illinois headquarters, The
Pampered Chef utilizes a network of more than 65,000 independent sales
representatives to sell its products through home-based party
demonstrations, principally in the United States.
See\'s Candies produces boxed chocolates and other confectionery
products in two large kitchens in California. See’s revenues are
highly seasonal with approximately 50% of total annual revenues being
earned in the months of November and December.
Dairy Queen , based in Edina, Minnesota, services a system of
approximately 6,000 stores operating under the names Dairy Queen,
Orange Julius and
Karmelkorn that offer various dairy desserts,
beverages, prepared foods, blended fruit drinks, popcorn and other
In November 2012, Berkshire announced they would acquire the Oriental
Trading Company , a direct marketing company for novelty items , small
toys, and party items.
Berkshire Hathaway purchased the _
Buffalo Evening News _ and
resumed publication of a Sunday edition of the paper that ceased in
1914. After the morning newspaper _
Buffalo Courier-Express _ ceased
operation in 1982, the paper began to print morning and evening
editions, currently printing only a morning edition. In 2006, the
company bought _
Business Wire _, a U.S. press release agency.
The company began its BH Media Group subsidiary with a purchase of
Omaha World-Herald _ in December 2011, which included six other
daily newspapers and several weeklies across
Nebraska and southwest
Iowa. In June 2012, Berkshire purchased 63 newspapers from Media
General , including the _
Richmond Times-Dispatch _ and _Winston-Salem
Journal _, for $142 million in cash.
In 2012, Berkshire bought Texas dailies _The Eagle _ in Bryan-College
Station and the _
Waco Tribune-Herald _. In 2013, the company
purchased the _
Tulsa World _, the
Greensboro, North Carolina -based
News & Record _, Virginia's _
Roanoke Times _, and _Press of Atlantic
City _. As of March 2013, BH Media owned 28 daily and 42 non-daily
On March 12, 2014, it was announced that Graham Holdings Company
would divest its Miami television station
WPLG to BH Media in a cash
and stock deal.
Berkshire Hathaway Energy 's HOMESERVICES OF AMERICA (see complete
list of companies) is a residential real estate brokerage firm based
Minneapolis, Minnesota and founded in 1998. HomeServices has
operations in 28 states and over 22,000 sales associates. In addition
to brokerage services, these real estate companies provide mortgage
loan originations , title and closing services, home warranties ,
property and casualty insurance and other related services. By the end
Berkshire Hathaway will enter the residential real estate
brokerage sector under the name of
HomeServices of America .
In late June 2017, the Oracle of Omaha indirectly acquired $400
million of the
Toronto -based company’s common shares as he gave a
lifeline to the embattled mortgage lender
Home Capital Group Inc .
Also in June 2017, Berkshire’s $377 million investment and 10
percent purchase in Store Capital makes it the company’s
third-largest investor, after Vanguard Group and
Scottsdale-based Store Capital is a real-estate investment trust ,
holding more than 1,700 properties across 48 states.
Berkshire's other investments tied to real estate include
HomeServices of America, the second-largest U.S. residential real
estate brokerage, and
Clayton Homes , which makes manufactured housing
In 2002, Berkshire acquired Albecca Inc. Albecca is headquartered in
Norcross, Georgia, and primarily does business under the Larson-Juhl
name. Albecca designs, manufactures and distributes custom framing
products, including wood and metal molding, matboard, foamboard,
glass, equipment and other framing supplies. Berkshire acquired CTB
International Corp. in 2002. CTB, headquartered in Milford, Indiana,
is a designer, manufacturer and marketer of systems used in the grain
industry and in the production of poultry, hogs, and eggs. Products
are produced in the
United States and Europe and are sold primarily
through a global network of independent dealers and distributors, with
peak sales occurring in the second and third quarters.
McLane Company , Inc. in May 2003 from
which brought on other subsidiaries such as Professional Datasolutions
, Inc. and Salado Sales , among others. McLane provides wholesale
distribution and logistics services in all 50 states and
internationally in Brazil to customers that include discount
retailers, convenience stores, quick service restaurants, drug stores
and movie theatre complexes.
Scott Fetzer Companies–The Scott Fetzer
Companies are a diversified group of 21 businesses that manufacture
and distribute a wide variety of products for residential, industrial
and institutional use. The three most significant of these businesses
are Kirby home cleaning systems , Wayne Water Systems and Campbell
Scott Fetzer also manufactures
On March 30, 2007,
Berkshire Hathaway announced
TTI, Inc. to be part
Berkshire Hathaway Group. Headquartered in
Fort Worth, Texas ,
TTI, Inc. is the largest distributor specialist of passive,
interconnect and electromechanical components. TTI’s extensive
product line includes: resistors, capacitors, connectors,
potentiometers, trimmers, magnetic and circuit protection components,
wire and cable, identification products, application tools and
On December 25, 2007,
Berkshire Hathaway acquired
Marmon Group .
Previously it was a privately held conglomerate owned by the Pritzker
family for over fifty years, which owned and operated an assortment of
manufacturing companies that produce railroad tank cars, shopping
carts, plumbing pipes, metal fasteners, wiring and water treatment
products used in residential construction.
On October 2, 2014,
Berkshire Hathaway Automotive an autodealership
subsidiary was created through the acquisition of Van Tuyl Group the
remaining largest auto dealer in the nation and independently-owned up
to that date and it is the fifth largest with ownership of 81
dealerships and revenues of $8 billion
On November 14, 2014,
Berkshire Hathaway announced that it would
Procter & Gamble for $4.7 billion in an
FINANCE AND FINANCIAL PRODUCTS
Clayton Homes , a maker of modular homes, storage
trailers, chassis, intermodal piggyback trailers and domestic
Clayton's finance business, (loans to manufactured home owners),
earned $206 million down from $526 million in 2007. Loan losses remain
3.6% up from 2.9%.
As well as owning companies outright, Berkshire maintains a
concentrated portfolio of equities and investments which has
historically been managed by Warren Buffett. Since 2010, Todd Combs
Ted Weschler also work alongside Buffett in managing investments.
In the 2016 letter to shareholders, Warren revealed that each of them
independently manages greater than $10 billion on behalf of Berkshire.
Buffett has spoken very highly of both in public interviews and in
the 2015 letter to shareholders he described hiring them both as "one
of my best moves".
As of March 2017, 65% of Berkshire's equity securities are
concentrated in five companies:
American Express Company - $12.0
Apple Inc. - $19.2 billion,
The Coca-Cola Company
The Coca-Cola Company - $17.0
International Business Machines Corporation (“IBM”) -
$11.2 billion and
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* Companies portal
List of Berkshire Hathaway publications
* ^ _A_ _B_ _C_ _D_ _E_ _F_ "
Berkshire Hathaway Inc. 2015 Annual
Report Form (10-K)" (XBRL).
United States Securities and Exchange
Commission. February 5, 2016.
* ^ "
Berkshire Hathaway Portfolio Tracker". _CNBC_. Retrieved
* ^ Warren Buffett. "2016 Annual Report" (PDF). p. 2. Retrieved 31
* ^ "Top 10 Biggest Conglomerates in the World Based by Revenue".
_TheRichest_. 2013-05-31. Retrieved 2017-04-03.
* ^ "The World\'s Biggest Public Companies". _
Retrieved May 12, 2014.
* ^ "Berkshire Hathaway". _Forbes_. Retrieved June 6, 2011.
* ^ Fuhrmann, Ryan (31 May 2017). "What\'s the most expensive stock
of all time?". _Investopedia_.
* ^ Providence Journal Article July 10, 2006. Projo.com (July 10,
2006). Retrieved on July 8, 2011.
* ^ "
Seabury Stanton (1892–1971) – Find A Grave Memorial".
Findagrave.com. November 18, 2011. Retrieved May 10, 2013.
* ^ _A_ _B_ Buffett\'s Worst Trade. CNBC (February 26, 2009).
Retrieved on July 8, 2011.
* ^ Friedman, Nicole (June 8, 2017). "Berkshire Unit Settles With
California Regulator Over Workers Comp Insurance". _Wall Street
Journal _. New York City, United States. Retrieved June 13, 2017.
* ^ "
Berkshire Hathaway to join S&P 500, shares soar". Reuters.
January 26, 2010. Retrieved January 26, 2010.
* ^ Yousuf, Hibah (February 12, 2010). "Buffett\'s Berkshire
S&P 500 Index". CNNMoney.com. Retrieved January 27,
* ^ Associated Press. "Warren Buffett\'s
Berkshire Hathaway named
most respected company". September 16, 2007.
* ^ "Berkshire Hathaway, Form 10-Q, Quarterly Report, Filing Date
Nov 7, 2008" (PDF). secdatabase.com. Retrieved Mar 1, 2013.
* ^ Craig, Susanne. (September 24, 2008) "Buffett to Invest $5
billion in Goldman", _The
Wall Street Journal
Wall Street Journal _, September 24, 2008.
Retrieved on July 8, 2011.
* ^ "The Buffett-Blankfein Alliance", _Forbes_, May 2, 2010.
Retrieved on July 8, 2011.
* ^ "Buffett Says He Backs Goldman’s Blankfein \'100%\'". _The
New York Times_ (May 1, 2010). Retrieved on July 8, 2011.
* ^ "Schedule 13D/A". Retrieved June 3, 2017.
* ^ Taipei Times. Taipei Times (July 1, 2011). Retrieved on July 8,
Internet Archive Wayback Machine. Replay.web.archive.org (May
12, 2007). Retrieved on July 8, 2011.
* ^ Pilgrimage to Omaha – My story of the
Berkshire Hathaway AGM
(Annual general meeting) of 2004 and meeting
Warren Buffett Archived
March 1, 2012, at the
Wayback Machine .. Peterwebb.co.uk (May 1,
2004). Retrieved on July 8, 2011.
* ^ "Whitney Tilson’s 2006
Berkshire Hathaway Annual Meeting
Notes" (PDF). Value Investor Insight. 6 May 2006. Retrieved September
* ^ "Warren Buffett: Value Man Through And Through", Forbes.com
* ^ "Being Buffett ... and blunt". CNN. May 5, 2007. Retrieved
April 26, 2010.
* ^ "People at BRKB". _Wall Street Journal_. Retrieved June 16,
* ^ "Berkshire moves step closer to Buffett succession". Reuters.
October 25, 2010. Retrieved October 27, 2010.
* ^ "
Berkshire Hathaway is pleased to announce that
Todd Combs will
soon be joining Berkshire as an investment manager" (PDF). Berkshire
Hathaway. October 25, 2010. Archived from the original (PDF) on
November 22, 2010. Retrieved October 27, 2010.
* ^ _A_ _B_ "Berkshire Hathaway, Form 10-K, Annual Report, Filing
Date Mar 1, 2013" (PDF). secdatabase.com. Retrieved Mar 1, 2013.
* ^ "
Berkshire Hathaway to Add Second
Investment Manager" (PDF).
Berkshire Hathaway. September 12, 2011. Retrieved September 12, 2011.
* ^ "Buffett Waits on Fat Pitch as Cash Hoard Tops $50 Billion".
Bloomberg. August 4, 2014.
* ^ "Berkshire Hathaway, Form 10-K, Annual Report, Filing Date Mar
30, 1999". secdatabase.com. Retrieved Mar 1, 2013.
* ^ "Berkshire Hathaway, Form 8-K, Current Report, Filing Date Jan
5, 1999". secdatabase.com. Retrieved Mar 1, 2013.
* ^ ING.com (2007-12-28). "ING to sell NRG to Berkshire Hathaway".
_ING.com_. Retrieved 2017-07-26.
* ^ _A_ _B_ "
Berkshire Hathaway to buy reinsurer, start bond
insurer". Marketwatch (December 28, 2007). Retrieved on July 8, 2011.
* ^ "Berkshire Hathaway, Form 10-Q, Quarterly Report, Filing Date
May 2, 2008" (PDF). secdatabase.com. Retrieved Mar 1, 2013.
* ^ LINKS TO BERKSHIRE HATHEWAY SUB. COMPANIES – Justin Brands.
BerkshireHathaway.com. Retrieved on Dec 10, 2013.
* ^ "
Berkshire Hathaway Inc. Acquires MiTek Inc" (Press release).
Berkshire Hathaway. 12 June 2001. Retrieved September 28, 2011.
* ^ "
Berkshire Hathaway to Acquire Shaw Industries" (Press
release). fibersource.com. 6 September 2000. Retrieved September 28,
* ^ "Berkshire Hathaway, Inc. News Release" (Press release).
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* ^ FlightSafety International
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