Complete-Buffett-Partnership-Letters-1957-70

Our Activities in 1957......Page 1
Interpretation of results......Page 2
TYPICAL SITUATION......Page 4
THE CURRENT SITUATION......Page 5
Our Performance in 1961......Page 17
A Word About Par......Page 18
Our Method of Operation......Page 19
The Question of Conservatism......Page 21
And a Prediction......Page 22
Miscellaneous......Page 23
Partnerships Started in 1961......Page 25
And a Prediction......Page 26
Closing Dow......Page 28
CUMULATIVE RESULTS......Page 29
OMAHA 31, NEBRASKA......Page 30
The Ground Rules......Page 32
Our Performance in 1962......Page 33
COMPOUNDED......Page 34
Our Method of Operation......Page 35
Dempster Mill Manufacturing Company......Page 37
The Question of Conservatism......Page 39
The Usual Prediction......Page 40
Warren E. Buffett......Page 41
Investment Companies......Page 42
Dempster Mill Manufacturing Company......Page 44
Taxes......Page 47
Our Performance in 1963......Page 51
Year......Page 52
The Joys of Compounding......Page 53
Our Method of Operation......Page 54
Miscellaneous......Page 56
TEXAS NATIONAL PETROLEUM......Page 58
Total liabilities and net worth......Page 60
First Half Performance......Page 63
Investment Companies......Page 64
Taxes......Page 65
Our Performance in 1964......Page 67
Year......Page 68
The Question of Conservatism......Page 70
Our Goal......Page 71
Our Method of Operation......Page 73
Taxes......Page 75
Miscellaneous......Page 77
Year......Page 79
Year......Page 80
Miscellaneous:......Page 82
YEARLY RESULTS......Page 86
Year......Page 87
Trends in Our Business......Page 89
Diversification......Page 91
Miscellaneous......Page 93
YEARLY RESULTS......Page 96
The First Decade......Page 100
Trends in Our Business......Page 102
Generals -Private Owner......Page 104
Generals - Relatively Undervalued......Page 105
Miscellaneous......Page 106
Taxes......Page 109
Miscellaneous......Page 110
Our Performance in 1967......Page 115
Investment Companies......Page 116
Miscellaneous......Page 118
First Half Performance......Page 120
The Present Environment......Page 121
Taxes......Page 122
Our Performance in 1968......Page 123
Generals -Private Owner......Page 126
Memorabilia......Page 127
Miscellaneous......Page 128
Taxation......Page 146
Marketability......Page 147
Callable Bonds......Page 148
Discount Versus Full Coupon Bonds......Page 150
Procedure......Page 151