{"id":108602,"date":"2025-02-25T06:40:59","date_gmt":"2025-02-25T06:40:59","guid":{"rendered":"https:\/\/peraltafinancing.com\/business\/finance\/berkshire-hathaway-2024-annual-shareholder-letter-by-warren-buffett-my-money-blog\/"},"modified":"2025-02-25T06:40:59","modified_gmt":"2025-02-25T06:40:59","slug":"berkshire-hathaway-2024-annual-shareholder-letter-by-warren-buffett-my-money-blog","status":"publish","type":"post","link":"https:\/\/fivemor.com\/?p=108602","title":{"rendered":"Berkshire Hathaway 2024 Annual Shareholder Letter by Warren Buffett \u2014 My Money Blog"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.mymoneyblog.com\/wordpress\/wp-content\/uploads\/2025\/02\/brk_ltr_generic.gif\" alt=\"\" width=\"700\" height=\"551\" class=\"aligncenter size-full wp-image-82532\" \/><\/p>\n<p>Berkshire Hathaway (BRK) released its <a href=\"https:\/\/www.berkshirehathaway.com\/letters\/2024ltr.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">2024 Letter to Shareholders<\/a> (also see full <a href=\"https:\/\/www.berkshirehathaway.com\/2024ar\/2024ar.pdf\">2024 Annual Report)<\/a>, which Warren Buffett traditionally also uses as an educational instrument.    As always, I recommend reading it yourself (only 13 pages total this year).   I enjoy reading the letter first (with no spoilers), then peruse the various newspaper and media commentary, and finally re-read the letter again.  Here are my personal highlights and commentary.<\/p>\n<p><strong>The total market cap of Berkshire is now over $1 trillion dollars.<\/strong>  The total value of their public equity holdings was $272 billion.  The total of their cash holdings was $334 billion.  The total value of their controlled businesses was about $400 billion.   <\/p>\n<p><strong>Berkshire\u2019s businesses are doing fine overall, especially their insurance business.<\/strong>  Their controlled businesses just continue to churn out cash, which obviously adds to the cash pile if there are no new investments. BRK parks nearly all of its cash in Treasury Bills, which made a lot of interest in 2024 as compared to the past several years.<\/p>\n<p><strong>No significant new purchases, in either public or private businesses.<\/strong>  Berkshire wants to own great businesses, but only when paying the right price.  However, he didn\u2019t give any indication that he thinks folks are completely nuts.   On a relative basis, you can judge for yourself with this chart of BRK\u2019s cash as a percentage of assets.   Source: <a href=\"https:\/\/www.wsj.com\/finance\/stocks\/warren-buffett-berkshire-hathaway-cash-annual-letter-2c956952?st=xZMeUt&amp;reflink=desktopwebshare_permalink\" target=\"_blank\">WSJ<\/a> (gift article).<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.mymoneyblog.com\/wordpress\/wp-content\/uploads\/2025\/02\/brk_share.gif\" alt=\"\" width=\"720\" height=\"583\" class=\"aligncenter size-full wp-image-82529\" \/><\/p>\n<p><strong>American businesses are still special, although it takes vigilance to stay that way.<\/strong>  Berkshire owns some international companies based in Europe and Japan, but it has always been and remains predominantly US-based businesses.<\/p>\n<blockquote>\n<p>Berkshire shareholders can rest assured that we will forever deploy a substantial majority of their money in equities \u2013 mostly American equities although many of these will have international operations of significance. Berkshire will never prefer ownership of cash-equivalent assets over the ownership of good businesses, whether controlled or only partially owned.<\/p>\n<p>Paper money can see its value evaporate if fiscal folly prevails. In some countries, this reckless practice has become habitual, and, in our country\u2019s short history, the U.S. has come close to the edge. Fixed-coupon bonds provide no protection against runaway currency.<\/p>\n<\/blockquote>\n<p><strong>Berkshire is not buying Berkshire anymore.<\/strong>   BRK has ceased with the buybacks, which means that they are either at or above his estimation of fair value.<\/p>\n<p><strong>Patience and discipline may be the lesson here.<\/strong>   Altogether, the letter was a nice, familiar reminder that the things that made Berkshire Hathaway great are still the same.   No surprises, no big drama.   Right now, valuations are plump so they are holding onto what they already have and other accumulating cash.    Berkshire is disciplined enough to do nothing when there is nothing smart to do.   I can still hear Charlie Munger saying something to the tune of \u201cIt\u2019s not the worst place to be, drowning in cash!\u201d<\/p>\n<p>Perhaps that is the lesson.  Everything is at least fairly-valued if not higher.   Hold what you have.  Let it compound.  Be patient.   There will be new opportunities eventually.<\/p>\n<p><strong>Past shareholder letter notes.<\/strong><\/p>\n<\/div>\n\n","protected":false},"excerpt":{"rendered":"<p>Berkshire Hathaway (BRK) released its 2024 Letter to Shareholders (also see full 2024 Annual Report), which Warren Buffett traditionally also uses as an educational instrument. As always, I recommend reading it yourself (only 13 pages total this year). I enjoy reading the letter first (with no spoilers), then peruse the various newspaper and media commentary, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":108605,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[93],"tags":[8425,38475,3767,47870,48331,2607,832,27924,6868],"dealstore":[],"offerexpiration":[],"class_list":["post-108602","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","tag-annual","tag-berkshire","tag-blog","tag-buffett","tag-hathaway","tag-letter","tag-money","tag-shareholder","tag-warren"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Berkshire Hathaway 2024 Annual Shareholder Letter by Warren Buffett \u2014 My Money Blog - Som2ny Network<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fivemor.com\/?p=108602\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Berkshire Hathaway 2024 Annual Shareholder Letter by Warren Buffett \u2014 My Money Blog - Som2ny Network\" \/>\n<meta property=\"og:description\" content=\"Berkshire Hathaway (BRK) released its 2024 Letter to Shareholders (also see full 2024 Annual Report), which Warren Buffett traditionally also uses as an educational instrument. 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