週末的時候，Warren Buffett 的Berkshire Hathaway (BRK/A:US or BRK/B:US) 發出了年度股東信。從年度股東信分享了一些看點：

1. 2020整年股票回購來到250億美金，以及帳上有將近1400億可用現金(ammunition or dry powder)

2. 110億美金的投資認列損失：價格的重要性

3. 股東信的公開市場證券與13F的差別：股東信比較完整。13F只顯示"在美國上市的股票"。

4. 除了蘋果以外，Berkshire Hathaway的其他三大業務(都是未上市的)介紹

5. You can attract a clientele and prosper featuring either hamburgers served with a Coke or a French cuisine accompanied by exotic wines. But you must not, Fisher warned, capriciously switch from one to the other: Your message to potential customers must be consistent with what they will find upon entering your premises. At Berkshire, we have been serving hamburgers and Coke for 56 years.

核心投資理念與策略不應該因為短期波動而產生急劇變化。