How to Get Back the Way You Lost It

Donald Stone asks whether the concept of market value added is applicable and useful to Berkshire Hathaway as a whole or in analyzing its line of business segments. Charlie Munger: The concept has some merit in it but the exact formal methods I do not believe we use. If Warren is using economic value added exactly the way they're now teaching it in the business schools he hasn't told me. In that case we won't split. We usually find that dealing with anything where we've got fiduciary obligations is is maybe not practical at all.