Key Quotes from Berkshire Hathaway Letter 1967

1. "We are highly pleased with the results of our insurance subsidiaries since their acquisition in March 1967. These two companies... continue under the very able management of Mr. Jack Ringwalt."

2. "We expect that there will be years in the future when the order of relative profitability is reversed, reflecting different stages in both the insurance and textile cycles. However, we believe it is an added factor of strength to have these two unrelated sources of earnings rather than to be solely exposed to the conditions of one industry."

3. "Management continues to be alert to opportunities to expand our operations in either the textile business, the insurance business or unrelated areas."

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Source: Full Letter