Primary source
Berkshire Hathaway Shareholder Letters, 1977-2024
Written by Warren E. Buffett · 2024 · grounds Warren Buffett
Overview
The official Berkshire Hathaway archive of Warren Buffett's annual shareholder letters, 1977 through 2024: primary-source lessons in owner economics, capital allocation, business quality, management, risk, mistakes, and compounding. This corpus is a curated selection of the most substantive letters (34 of the ~48 years), not every single year digested in full.
A full write-up of this book has not been published yet.
Skills drawn from this book
Installable Claude Code skills grounded in this text. Each one teaches a framework the book actually argues for.
/warren-buffett:warren-buffettThe Buffett Owner's LensTurn a business or capital decision into owner economics, opportunity cost, downside protection, and a clear action.
/warren-buffett:owner-earningsOwner EarningsConvert reported accounting results into the cash an owner can take out without weakening the business.
/warren-buffett:circle-of-competenceCircle of CompetenceDraw the boundary between what can be evaluated, what must be learned, and what should simply be passed.
/warren-buffett:retained-earnings-testThe Retained Earnings TestMake every retained dollar compete against distribution and the best alternative use of capital.
/warren-buffett:financial-fortressBuild a Financial FortressStress obligations, counterparties, and liquidity so no ordinary shock can force a permanent loss.
/warren-buffett:acquisition-filterThe Berkshire Acquisition FilterScreen an acquisition for understandable economics, durable advantage, trustworthy management, price, financing, and fit before deal momentum takes over.