American investor Warren Buffett, Chairman and CEO of Berkshire Hathaway Inc, released the letter to the company’s shareholders on February 27. Here is the full text of the letter:
Berkshire earned $42.5 billion in 2020 according to generally accepted accounting principles (GAAP). The four components of that figure are $21.9 billion of operating earnings, $4.9 billion of realized capital gains, a $26.7 billion gain from an increase in the amount of net unrealized capital gains that exist in the…
