The Rational Walk has published several hundred articles regarding Berkshire Hathaway. This archive displays all articles related to Berkshire except for In Search of the Buffett Premium, a research report published in 2011. In addition to browsing the list of articles, you may also search for a specific topic within the archive by using the search box below. A separate archive exists for coverage of other companies. Berkshire is sometimes mentioned in the Rational Reflections weekly newsletter which has a separate archive.

While researching another topic on the Fortune Magazine website, I found an interesting interview with Carol Loomis which was recorded prior to the Berkshire Hathaway annual meeting.  As most Berkshire Hathaway shareholders know, Carol Loomis is a longtime friend of Warren Buffett and also edits his annual letter each year. According to a recent interview, Loomis purchased Berkshire Hathaway shares in the 1960s at under $200 and has never sold a share. Carol Loomis was ...
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Berkshire Hathaway shareholders hoping for major purchases of publicly traded stocks during the market meltdown of the first quarter are likely to be somewhat disappointed by the details of the 13F Report that the company submitted to the SEC this afternoon.  The report shows that Berkshire made relatively small purchases during the first quarter in Burlington Northern Santa Fe, Johnson & Johnson, Nalco Holdings, US Bancorp, Union Pacific, and Wells Fargo while trimming positions in ...
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The Spring 2009 issue of Stanford Lawyer contains an interview with Berkshire Hathaway Vice Chairman Charlie Munger.  A streaming video has also been provided.  Munger is a longtime donor to Stanford University, most recently funding new graduate school residences, and has often made himself available to the law school community.  Let's take a look at a few excerpts from the interview: Culpability of the Accounting Profession Question:  As we look at the current situation, how ...
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Wesco Financial reported results for the first quarter last week in a press release and filed the 10Q report with the SEC yesterday.  Wesco Financial is a publicly traded 80% owned subsidiary of Berkshire Hathaway. Wesco reported net income per share of $2.80 for the quarter compared with $2.91 per share in the first quarter of 2008.  Results were impacted by weakness in the CORT furniture rental business and Precision Steel's industrial business, which was ...
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In today's economic and political climate, few businesses seem less attractive than fractional aviation.  Companies are under constant pressure to cut costs particularly in areas that could be perceived as frivolous executive benefits during a deep recession.  Executives everywhere have noted the political criticism facing those who would dare to fly on corporate aircraft to Congressional hearings.  Who in their right mind would purchase a corporate jet or even a fractional share in this environment? ...
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Berkshire Hathaway reported results for the first quarter following the close of trading today.  While Berkshire reported a loss in terms of GAAP net income for the quarter, the underlying results for the operating business are actually quite solid given the global economic recession.  Berkshire's operating earnings per share declined 11.8% to $1,100 per A Share, down from $1,247 in the first quarter of 2008.  Net earnings per share were recorded as a loss of ...
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Berkshire Hathaway will release quarterly earnings for Q1 2009 on Friday, May 8 after the close of trading.  Earlier this week, I provided some commentary on the earnings preview that Warren Buffett presented at the Berkshire Hathaway annual meeting last weekend.  Buffett indicated that Berkshire Hathaway's book value declined by approximately 6% during the quarter.  Based on Berkshire's shareholders' equity as of 12/31/2008, a 6% decline would amount to approximately $6.6 billion. Much of this ...
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During the Berkshire Hathaway annual meeting last weekend, Warren Buffett surprised the audience with an earnings preview immediately after returning from the lunch break.  Berkshire Hathaway filed a 8K Report with the SEC today with a transcript of the comments that were made.  Berkshire will file the 10Q Report for Q1 2009 after the close of trading on Friday, May 8. Operating Earnings Fall to $1.7 billion Warren Buffett announced that Berkshire Hathaway's after tax ...
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Earlier today, I wrote an article covering the highlights of the Berkshire Hathaway Annual Meeting morning Q&A session.  Since I was unable to attend the afternoon session, I have been searching the Internet for information regarding the afternoon Q&A as well as other good content that may be useful for readers.  This post includes the best resources I have found up to this point.  More content is appearing online constantly, so I may update this ...
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I made the trip to Omaha this weekend for the 2009 Berkshire Hathaway Annual Meeting.  This was my first trip to Omaha since 2005 and attendance at the meeting has grown considerably over the past few years.  I still remember my first Berkshire Annual Meeting in 2001 at the Omaha Civic Auditorium when attendance was quite a bit lower.  If attendance grows much beyond the 35,000 who showed up this year, the meeting will soon ...
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The financial markets appear to be on edge this week ahead of the government's release of the methodology for "stress testing" the top banks which is set to be issued on Friday, April 24. Much of the attention has centered on the levels of tangible common equity held by banks and the protection implied by Tier 1 capital ratios. If government regulators regard the Tier 1 capital ratio of a "stress tested" bank to be ...
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Warren Buffett's annual letter to shareholders of Berkshire Hathaway is one of the most highly anticipated and widely read documents for those interested in business, investments, politics, and economics.  Most shareholder letters are either boring documents that shed little light on the operations of a company or merely glossy cheerleading exercises that gloss over much that informed investors would want to know.  In both content and appearance, Buffett's letters are anything but typical.  You will ...
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Clayton Homes has announced a payment protection plan to assist new buyers with up to three months of payments when home owners lose their jobs.  The plan will cover a homeowner's mortgage, insurance, and property tax payments for all homes purchased before June 30, 2009. I previously wrote about Clayton's admirable track record during the past decade's real estate boom and bust.  Is the announcement of the payment protection plan a sign that the company ...
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The Property Casualty Insurers Association of America (PCI) reported full year 2008 results for the industry yesterday and it was not a pretty picture.  While PCI reported that insurers remain well capitalized when one considers levels of statutory net worth and loss reserves, the operating results from 2008 show considerable strain on the industry in general when one considers unsatisfactory levels of underwriting losses and declines in statutory net worth during the year.  I found ...
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