０円で手にする金融知識 （なるべく）

Insurance　　保険 “Our investment in the insurance companies reflects a first major step in our efforts to achieve a more diversified base of earning power.” − 1967 Annual Report 我々の保険会社での投資は　我々のより多様性に富んだ収益基盤形成のための努力の中で　最初の主要なステップを残した。..

The four companies possess excellent businesses and are run by managers who are both talented and shareholder-oriented. At Berkshire, we much prefer owning a non-controlling but substantial portion of a wonderful company to owning 100% of a..

・ Our subsidiaries spent a record $11 billion on plant and equipment during 2013, roughly twice our depreciation charge. About 89% of that money was spent in the United States. Though we invest abroad as well, the mother lode of opportunity..

・ Last year we invested $3.5 billion in the surest sort of bolt-on: the purchase of additional shares in two wonderful businesses that we already controlled. In one case – Marmon – our purchases brought us to the 100% ownership we had signe..

We now own a wide variety of exceptional insurance operations. Best known is GEICO, the car insurer Berkshire acquired in full at yearend 1995 (having for many years prior owned a partial interest). GEICO in 1996 ranked number seven among U..

Berkshire and 3G could also decide at some point that it would be mutually beneficial if we were to exchange some of our preferred for common shares (at an equity valuation appropriate to the time). バークシャーと３Ｇはまた、（そのときの適切な資産評価で）普通株式の交..