Today, Berkshire Hathaway is one of the largest companies in the United States and the world. It wouldn't be that way if it were not for Warren Buffett and his stewardship of the company over the past five and a half decades.
Buffett first started acquiring shares in Berkshire, which at the time was a struggling textile business, in the early 1960s. He started buying the shares for his investment partnerships on the basis that the stock was deeply undervalued compared to the company's assets.
At first, this was nothing more than a standard Buffett-style value trade. Berkshire looked cheap, and Buffett believed the market would wake up to this fact sooner or later.
Q4 2022 hedge fund letters, conferences...
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