Key Quotes from 2017 Shareholder Letter

1. "2017 was far from standard: A large portion of our gain did not come from anything we accomplished at Berkshire."

2. "Both of us have consistently thought that at Berkshire this mark-to-market change would produce what I described as 'wild and capricious swings in our bottom line.'"

3. "A large portion of our gain did not come from anything we accomplished at Berkshire."

---

Source: Full Letter