LIVE: Warren Buffett's 50th letter to Berkshire shareholders
First things first, Berkshire Hathaway earned $2,412 per Class A share in the fourth quarter of 2014, missing expectations for earnings of $2,702.
As of December 31, Berkshire Hathaway's book value per Class A share was $146,186.
For the first time, Berkshire included the historical stock price in this year's annual letter.
And while Buffett said that the intrinsic value of the company and the price of the shares isn't always exact - in fact that relationship used to be closer than it is today - Buffett and his partner Charlie Munger believe the increase the share price and the increase and intrinsic value is roughly equal.
That increase over the last 50 years? 1,826,163%
The letter is expected to include comments from both Buffett and his right-hand man Charlie Munger regarding Berkshire's past 50 years and Berkshire's next 50 years.
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