
1996-Morning Session-BRK Annual Shareholders Meeting
Berkshire Hathaway Annual Shareholder Meetings (since 1994)
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The Failure of Look Through Earnings in the Annual Report
We have more than twice as many I believe holders in street name as in direct ownership. We run into other problems in terms of people getting their material just the material on the annual meeting and we've heard from a number of shareholders that they can't get it from their broker or don't know what the B is all about because they didn't get their proxies. The accounting treatment isn't clear and I felt that the Look Through Earnings last year were fine but I felt that by the time I got through explaining all of the adjustments you would have to make for the transactions then pending that adding it to the already the longest letter I've written would have slowed things down a lot.
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