How to Review a Proxy Statement

“The compensation committee relies on its own good judgment in carrying out its duties and does not waste shareholder money on compensation consultants.” — Daily Journal Corporation 2017 Proxy Statement Reading primary sources of information remains the single most important

How to Read a 10-K Annual Report Efficiently

“We read a lot.  I don’t know anyone who’s wise who doesn’t read a lot.  But that’s not enough: You have to have a temperament to grab ideas and do sensible things.  Most people don’t grab the right ideas or

Berkshire’s Investment Write-Downs: “Gotcha Moment” or Difference of Opinion?

It should come as no surprise to careful readers of Berkshire Hathaway’s financial statements that the company recorded an “other-than-temporary impairment loss” of $938 million in the fourth quarter of 2010 related to declines in the market value of certain equity securities. However, recent media reports seem to treat recent revelations of correspondence between Berkshire and the SEC as a “gotcha moment”. We take a look at this question in this article.

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