Letters from Omaha

© 2026 [your name or imprint]. All rights reserved. No part of this book may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic or mechanical, without the prior written permission of the copyright holder, except for brief quotations in a review.

This is an independent, unofficial guide. It is not affiliated with, authorized, endorsed by, or sponsored by Warren Buffett, Berkshire Hathaway Inc., or any of the companies discussed in it.

Excerpts from Warren E. Buffett's letters to the shareholders of Berkshire Hathaway Inc. are © Berkshire Hathaway Inc. They are quoted here in limited part, with attribution, for the purposes of commentary, criticism, and education.

Each chapter retells a single year's letter. Every figure and quotation in a chapter comes directly from Berkshire Hathaway's shareholder letter for that year, written by Warren E. Buffett; quotations are verbatim, with the letters' spaced hyphens rendered as parentheses. First-purchase years and prices for the portfolio holdings come from public records and are approximate where marked with a tilde. The "growth of a $1 stake" figures beneath each chapter cover are compounded from Berkshire's own long-run record of per-share market and book value, not from the individual letters, and are approximate.

Berkshire Hathaway, GEICO, See's, The Washington Post, and other company and product names are trademarks of their respective owners, used here only to identify and discuss those companies. No endorsement is implied.

This book is for general educational purposes only. It is not investment, financial, legal, or tax advice, and nothing in it is a recommendation to buy or sell any security. Consult a qualified professional before making any financial decision.

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First edition, 2026. Published by [publisher]. ISBN [000-0-0000000-0-0]. Printed in [country].