Berkshire Hathaway Letters to Shareholders: 1965-2024

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-four letters to shareholders later, the same share traded for $306,600, compounding investor capital at just under 20% per year—a multiplier of 17,000 times.

This book compiles the full, un-edited versions of every one of Warren Buffett's letters to the shareholders from 1965 to 2018, including 1965-1976 letters not available on Berkshire's website. 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.