Valuentum Exclusive Analysis for the Discerning Investor

Symbol Keyword

Image: Berkshire’s operating earnings experienced a strong advance during 2023 from last year’s levels. 

On February 24, Berkshire Hathaway reported strong fourth-quarter results that capped off a year where operating earnings advanced 21% on a year-over-year basis. Warren Buffett tipped his hat to his long-time partner Charlie Munger, who passed away in November of last year, crediting him as the architect of Berkshire and himself merely in charge of the “construction crew.” There weren’t many surprises in the annual report, and Buffett made several references to areas that he has long talked about in the past, including pointing investors to operating earnings, as opposed to net income, which includes unrealized capital gains that can make reported results seem more volatile. All things considered, we liked Berkshire’s update, and we continue to like the firm as an idea in the Best Ideas Newsletter portfolio.