Key Quotes from 2018 Shareholder Letter

1. "Neither Berkshire's Vice Chairman, Charlie Munger, nor I believe that rule to be sensible."

2. "A new GAAP rule requires us to include that last item in earnings... we both have consistently thought that at Berkshire this mark-to-market change would produce 'wild and capricious swings in our bottom line.'"

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Source: Full Letter