Berkshire Hathaway 2013 Annual Report Download - page 26

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Neither Charlie nor I will get so much as a clue about the questions to be asked. We know the journalists
and analysts will come up with some tough ones, and that’s the way we like it. All told, we expect at least
54 questions, which will allow for six from each analyst and journalist and 18 from the audience. If there is some
extra time, we will take more from the audience. Audience questioners will be determined by drawings that will
take place at 8:15 a.m. at each of the 15 microphones located in the arena and main overflow room.
************
For good reason, I regularly extol the accomplishments of our operating managers. They are truly All-
Stars, who run their businesses as if they were the only asset owned by their families. I believe the mindset of our
managers to be as shareholder-oriented as can be found in the universe of large publicly-owned companies. Most
have no financial need to work; the joy of hitting business “home runs” means as much to them as their paycheck.
Equally important, however, are the 24 men and women who work with me at our corporate office. This
group efficiently deals with a multitude of SEC and other regulatory requirements, files a 23,000-page Federal
income tax return as well as state and foreign returns, responds to countless shareholder and media inquiries, gets
out the annual report, prepares for the country’s largest annual meeting, coordinates the Board’s activities – and the
list goes on and on.
They handle all of these business tasks cheerfully and with unbelievable efficiency, making my life easy
and pleasant. Their efforts go beyond activities strictly related to Berkshire: Last year they dealt with the 40
universities (selected from 200 applicants) who sent students to Omaha for a Q&A day with me. They also handle
all kinds of requests that I receive, arrange my travel, and even get me hamburgers and French fries (smothered in
ketchup, of course) for lunch. No CEO has it better; I truly do feel like tap dancing to work every day.
In closing, I think it’s become appropriate to ignore our “no pictures” policy and let you view our
remarkable home-office crew. Below is a photo from our Christmas lunch. Two people couldn’t make it; otherwise
you are looking at all of those who staff Berkshire’s headquarters. They are truly miracle-workers.
Next year’s letter will review our 50 years at Berkshire and speculate a bit about the next 50. In the
meantime, come to Omaha on May 3rd and enjoy our Woodstock for Capitalists.
February 28, 2014
Warren E. Buffett
Chairman of the Board
A power lunch, Berkshire-style
24