Buffett's 2022 annual letter is out, and it didn't disappoint. Here are my highlights...

First, we have this teal color for the cover. We have to go back to 1990 to find the last report of this shade. Who picks the color? Warren? @Benjamin_Moore ? Getting to the meat...BRK handily beat the S&P 500 last year, gaining 4% in market value while the S&P declined 18.1%.

$DJCO Daily Journal meeting starting now!

I love how the broadcast opens with Munger already into the box of See's peanut brittle. Charlie's first question on the new CEO, Steve Myhill-Jones.

Berkshire released its Q3 earnings this morning. Here's what to know...

$BRKA $BRKB $BRK 2/ Operating earnings (what counts) were $7.76bn in Q3, up 20% compared to Q3 2021. YTD operating earnings were $24.1bn, up 19% from YTD 2021.

Watchlistinvesting.com issue just went out to paid subscribers. October's issue is on $CPRT, a company a friend calls the undertaker of the car industry. It's a great business... 2/ To continue the visual, when the
Grim Reaper finds its way to the millions of cars totaled each year, Copart has the opportunity to
step in and facilitate the end-of-life process. Some cars are sent to the graveyard to be dismantled
for parts and/or scrapped for metal.

Thanks to the group that participated today. Lots of great discussion on @Shw and other companies. Here are my takeaways:

https://twitter.com/BRK_Student/status/1578343126791467008

2. On $SHW, one watchlistinvesting.com subscriber lives in a town in the Netherlands where the company has a plant. He's noticed the diversity of competitors in Europe. We also discussed market share and the differences between geography and market size, how companies compete...

Here's more on what I found studying Sherwin-Williams $SHW this month. 🧵

https://twitter.com/BRK_Student/status/1577705392171356162

2. It's a simple and mature industry with a lot to get excited about. The product has a disproportionate impact on aesthetics compared to cost. It's a setup that gives $SHW pricing power and a moat within architectural paint in the US and elsewhere in North America.

Some initial thoughts on the #berkshirehathaway annual report.

Random fact, the cover is black for the first time since 2005. Prior to that, 1988 featured a black cover with some funky neon blue.

$BRK $BRKA $BRKB #warrenbuffett #charliemunger Buffett points out that Berkshire paid $3.3 billion or 8/10ths of ALL federal corporate income tax in the United States. That's some $9 million per day to the US Treasury.