英文版(最新出炉)2024年巴菲特致股东信.pdfVIP

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英文版(最新出炉)2024年巴菲特致股东信.pdf

LastYear’sPerformance

In2024,BerkshiredidbetterthanIexpectedthough53%ofour189operating

businessesreportedadeclineinearnings.Wewereaidedbyapredictablelargegainin

investmentincomeasTreasuryBillyieldsimprovedandwesubstantiallyincreasedourholdings

ofthesehighly-liquidshort-termsecurities.

Ourinsurancebusinessalsodeliveredamajorincreaseinearnings,ledbythe

performanceofGEICO.Infiveyears,ToddCombshasreshapedGEICOinamajorway,

increasingefficiencyandbringingunderwritingpracticesuptodate.GEICOwasa

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