(1) Warren Buffett: “When you are told that all repurchases are harmful to shareholders or to the country, or particularly beneficial to CEOs, you are listening to either an economic illiterate or a silver-tongued demagogue (characters that are not mutually exclusive).”
Q4 2022 hedge fund letters, conferences and more
(2) Warren Buffett: “At yearend 2022, Berkshire was the largest owner of eight giants: American Express, Bank of America, Chevron, Coca-Cola, HP Inc., Moody’s, Occidental Petroleum and Paramount Global.”
(3) Warren Buffett: “Our CEO will always be the Chief Risk Officer – a task it is irresponsible to delegate. Additionally, our future CEOs will have a significant part of their net worth in Berkshire shares, bought with their own money.”
(4) Warren Buffett: “Berkshire’s contribution via the corporate income tax was $32 billion during the [past] decade, almost exactly a tenth of 1% of all money that the Treasury collected.”
(5) Warren Buffett: “Charlie and I firmly believe that near-term economic and market forecasts are worse than useless… Huge and entrenched fiscal deficits have consequences.”
(6) Warren Buffett (on Geico): Premiums written increased 1.9% in 2022 due to rate increases. Voluntary auto policies in-force declined 8.9% in 2022… GEICO’s loss ratio increased by 10.9 percentage points…We currently expect GEICO to generate an underwriting profit in 2023.
