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Warren Buffett
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Berkshire Hathaway Letters to Shareholders 50th Paperback – January 1, 2016

by Warren Buffett (Author), Max Olson (Editor)
4.7 4.7 out of 5 stars 269 ratings
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Warren E. Buffett first took control of Berkshire Hathaway Inc., a small textile company, in April of 1965. A share changed hands for around $18 at the time. Fifty letters to shareholders later, the same share traded for $226,000, compounding investor capital at just under 21% per year-a multiplier of 12,556 times.


This book compiles the full, un-edited versions of 50 years of Warren Buffett's letters to the shareholders of Berkshire Hathaway. In addition to providing an astounding case study on Berkshire's success, Buffett shows an incredible willingness to share his methods and act as a teacher to his many students.


There are hundreds of books about Buffett's life, advice, and methods. These are his actual letters -- word for word -- a "lesson plan" of his views on business and investing. You can find most of the letters for free on Berkshire's website, but this compiles them into a well-designed, easily readable format.


Features of the book:

  • 50 years of Warren Buffett's letters to the shareholders of Berkshire Hathaway (769 pages), including 1965-1976 letters not available on Berkshire's website
  • Tabulated letter years so you can easily flip to the desired letter
  • Topics index
  • Company index
  • Person index
  • Charts of: Growth in Berkshire's book value and market price relative to benchmarks, Insurance float and performance, the operating businesses of Berkshire
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Previous page
  1. Print length
    796 pages
  2. Language
    English
  3. Publisher
    Explorist Productions
  4. Publication date
    January 1, 2016
  5. Dimensions
    8.5 x 1.58 x 11 inches
  6. ISBN-10
    0615975070
  7. ISBN-13
    978-0615975078
  8. See all details
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Editorial Reviews

Review

When I started learning about Warren Buffett, one of the first things I did was buy a printer that could print on both sides of the page. I got a ream of three hole paper, and filled a few binders with Buffett's letters to investors, all of which are freely available on his website. . . .

Well, now they have been helpfully compiled by my friend Max Olson. This edition includes charts I haven't seen anywhere else, showing Berkshire's cost of float (to the uninitiated: Buffett has borrowed money more cheaply than the U.S. government over the years, and used this fuel to invest at incredible rates of return), a chronological list of acquisitions, and even includes a topic index.

Kudos to Olson and Buffett for making this public. Now it's up to you, the reader, to make the best of it. --Marcelo P. Lima

Max Olson has done a great job for all Warren Buffett fans in putting this great collection of letters together in one easy read. --Guy Spier

About the Author

Warren Edward Buffett (born August 30, 1930) is an American business magnate, investor, and philanthropist. He is widely considered the most successful investor of the 20th century. Buffett is the primary shareholder, chairman and CEO of Berkshire Hathaway and consistently ranked among the world's wealthiest people. He was ranked as the world's wealthiest person in 2008 and as the third wealthiest person in 2011. In 2012, American magazine Time named Buffett one of the most influential people in the world. Buffett is called the "Wizard of Omaha", "Oracle of Omaha", or the "Sage of Omaha" and is noted for his adherence to the value investing philosophy and for his personal frugality despite his immense wealth. Buffett is also a notable philanthropist, having pledged to give away 99 percent of his fortune to philanthropic causes, primarily via the Gates Foundation.

Product details

  • Publisher ‏ : ‎ Explorist Productions; 3rd edition (January 1, 2016)
  • Language ‏ : ‎ English
  • Paperback ‏ : ‎ 796 pages
  • ISBN-10 ‏ : ‎ 0615975070
  • ISBN-13 ‏ : ‎ 978-0615975078
  • Item Weight ‏ : ‎ 3 pounds
  • Dimensions ‏ : ‎ 8.5 x 1.58 x 11 inches
  • Customer Reviews:
    4.7 4.7 out of 5 stars 269 ratings

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Warren Buffett

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Customer reviews

4.7 out of 5 stars
4.7 out of 5
269 global ratings
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2 Stars
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Back cover was almost torn off. This book should not have been resold. Not worth the used price reduction. The book is just really beat up.
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Top reviews from the United States

Kody
5.0 out of 5 stars BEST book I’ve read
Reviewed in the United States on March 6, 2024
Verified Purchase
The wisdom and biggest from this book are timeless. One of the best books I’ve read! As a BRK shareholder, highly recommend!
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RA
5.0 out of 5 stars Great Information
Reviewed in the United States on November 6, 2023
Verified Purchase
It's hard for me to review a book but this one has great information for everyone. I recommend.
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Evan Lotzof
5.0 out of 5 stars Please Update Through 2023
Reviewed in the United States on May 14, 2023
Verified Purchase
Invaluable resource. Can you please update through 2023?
7 people found this helpful
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Michael Vanbuskirk
5.0 out of 5 stars Funny and wonderfully insightful
Reviewed in the United States on September 14, 2014
Verified Purchase
I was so entertained by the shareholder letters -- in combination with the performance of the stock -- that I had to read other things by or about Buffett and his partner Munger. The shareholder letters are Buffett's view on Berkshire's annual report with a lot of humor and musings on investing thrown in. Buffett is a master communicator. One has to shake one's head at the chart at the book's beginning showing the comparison of Berkshire and S&P over 40 or so years. Wow, these guys are good! Other books -- Cunningham's book on Buffett (compilation of shareholder letter passages illustrating recurring themes, a kind of Berkshire in a Nutshell -- very good), Munger's "Psychology of Misjudgements" (a speech at Harvard Law School, on Youtube, very good), Tao of Buffett and Snowball (neither are my cup of tea), Intelligent Investor by Graham (Buffett's favorite book on investing, get the edition with commentary by Jason Zweig. -- fantastic).
13 people found this helpful
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Kilonova
5.0 out of 5 stars 10 STARS ⭐⭐⭐⭐⭐⭐⭐⭐⭐⭐
Reviewed in the United States on July 19, 2017
Verified Purchase
There have been critics who have written reviews on here that this book is no different than going online and printing out all of the shareholders letters and there are others that say that you should pick up Lawrence Cunningham's version because that version is editorialized and I am here to tell you that I have done all three, not because anyone has told me or I recommended it, but because I have thoroughly entrenched myself in the study of Warren Buffett, Charlie Munger and Berkshire Hathaway and I will tell you this edition and book is an outstanding treasure and amazing addition to anyone's library, full of awesome information and knowledge about the inner workings of Berkshire Hathaway. I'm actually very sorry I didn't get it much, much sooner. I cannot recommend this book strongly enough...10 STARS!!!!!
55 people found this helpful
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timothy sullivan
5.0 out of 5 stars A must read for any longterm investor!!!!
Reviewed in the United States on July 14, 2019
Verified Purchase
I own a significant amount of berkshire stock and read this whole book. It is a long read, but well worth it: you learn all the essentials to the company and get the best investing advice possible for long term wealth accumulation. I have steadily grown more knowledgeable and wealthy thanks to Buffet's gracious sharing of his profound understanding of capital markets. Buffet's wisdom is much more valuable than the refuse they teach in finance school. If you believe you have to study how to become wealthy, as I most assuredly do, seize on the opportunity to learn from the master and order this book with rapidity and incorporate it into your investing life. I thanks my lucky stars every day for Buffet's intellectual generosity.
27 people found this helpful
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Amazon Customer
5.0 out of 5 stars Very good packaging & condition of item.
Reviewed in the United States on May 2, 2022
Verified Purchase
Item as described & in good condition on arrival due to good packaging . Took a while to arrive but worth the wait for free shipping.
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Vortex Audio
5.0 out of 5 stars One of the Best Books to Learn Buffett's Investment Strategy.
Reviewed in the United States on March 15, 2022
Verified Purchase
As I write this review, I am reading this book. I am learning a lot about how Warren Buffett built his business empire. Lot to learn and highly recommended
2 people found this helpful
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Top reviews from other countries

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gert eeckhout
1.0 out of 5 stars Niet ontvangen!!!!
Reviewed in Belgium on March 4, 2024
Verified Purchase
Geen datum meegekregen wanneer dit boek wel gaat toekomen. Amazon service onwaardig
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Amazon Customer
5.0 out of 5 stars Great Book
Reviewed in Canada on December 18, 2018
Verified Purchase
a good read
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Debapriya Mohapatra
5.0 out of 5 stars Must have.
Reviewed in India on February 18, 2019
Verified Purchase
Must have.
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Carol Lee
5.0 out of 5 stars Berkshire Hathaway Letters to Shareholders: 1
Reviewed in Singapore on February 20, 2023
Verified Purchase
I am happy to have bought this Berkshire Hathaway Letters to Shareholders. After read the 1st chapter, I would recommend it to all investors who are new to the trading or investing in equity market. It focus on the market trade, courage, insight of doing the business and or the investing direction. So much to learn from what has Mr Warren shared of his precious wisdom and insight of investment.
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RICCARDO FERLIN
5.0 out of 5 stars Good Book !!!
Reviewed in the United Kingdom on November 16, 2017
Verified Purchase
I'm a fan about Warren Buffet, and I like to have in ONE BOOK all letters, that BIG ORACLE OF OMAHA has written to his customers, shareolders, ...
One person found this helpful
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