Berkshire Hathaway annual report 2017

Our annual report arrived today.  The extensive shareholder's letter of the past has been turned into three pages.  They concisely point out a few investing thoughts.  The firm is sitting on mountains of cash and could but almost anything, even a country, but Warren Buffett has always focused on one place(the U.S), one accounting regimen.  That and nothing else today focused on the GE rumors. 

With a short report, there were no zingers for the press to focus on: but a couple could be:  Referring to his investment colleague, "Both Charlie and I believe it is insane to risk what you already have and need in order to obtain what you don't need".  Or referring to a CEO who wanted a deal "the speadsheets  never disappoint".  Comments on eyesnotsold.blogspot.com expand on this.

His huge holdings of American Express and Bank of America remain, each advantaged by prior purchases.  Coca Cola remains a long term position.  Finance being Buffett's expertise, Wells Fargo and U.S. Bancorp are among the top four equity tradeable positions.  BKB is so much more that that with multiple owned companies.

Annual report still worth reading...