Warren Buffett's Letters to Berkshire Hathaway Shareholders

A Directory of Warren Buffett's Berkshire Hathaway Letters 1977—2016

Warren Buffett Shareholder Letters to Berkshire Hathaway Stockholders
••• Warren Buffett's shareholder letters to his fellow Berkshire Hathaway stockholders have become some of the most studied documents in the history of corporate finance for good reason. Here's your chance to read them yourself. Getty Images News

Warren Buffett's letters to the shareholders of Berkshire Hathaway, his holding company, are regarded as one of the most important and informative bodies of work ever written in the business and investing world. They're an absolute must-read if you want to get involved in investing or corporate management as they trace the evolution of Buffett's firm from a relatively small, insignificant business to one of the world's premier corporations with ownership in nearly every sector of the global economy.

What's in the Berkshire Hathaway Letters to Shareholders?

Buffett took over as Chairman of Berkshire Hathaway in 1965 when he was 35 years old. His shareholder letters between that time and 1976 were largely statistical recaps of the operating results of the textile mills. The legendary investor had not yet fully begun to transform the enterprise into its present conglomerate form. But that then changed. 

Topics covered in Warren Buffett's shareholder letters since 1976 include investment philosophy, portfolio management, corporate governance, diversification, and the limitations of GAAP. The letters cover employing incremental capital, selecting business managers, compensation policy, share repurchases, stock options, mergers and acquisitions, and the economics of the insurance industry. You name it, it's in there in one of these letters. 

An Archive of Warren Buffet's Berkshire Hathaway Letters

A compendium of all Buffett's shareholder letters was published in book form in 2016. It's available from Amazon and other online booksellers, and it packs quite a punch, covering 50 years. The letters are unedited. The book includes their full versions. 

If that seems like ambitious reading to you, access the original texts from the Berkshire Hathaway site through the links below. Pick and choose among the years you're interested in. The letters from 1977 through 2003 are archived in HTML format. The years from 2004 through 2014 are available in Adobe PDF format.

The letters are not for the faint of heart. Most average about 30 pages, but they're brilliant and insightful, and just plain good reading if you're thinking of investing.

Buffett's letter for 2017 is expected sometime in February 2018. 

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