Warren's House

The above picture is the house belonging to the richest man in the world. Warren bought it 50 years ago with $31,000. It's 6,000 square foot with 5 bedrooms. He thought he was a king at that time and he had never moved since. The house was made up totally from Acme Brick so that it required little maintenance. Warren can save all that money and put them into investment. Today the house worths about $750,000.

We met a reporter, Mr. Wang Zhijie, from Taiwan's Jin Zhou Kan 今周刊 magazine. He wrote a very nice, deep-dive article about the 2008 shareholders' meeting and Warren's investment strategy. He was so kind to include our family picture in the article as well. We received the magazine last night and read most of it. We found it very educational and instructive. It's certainly a great magazine that can benefit the readers a lot.

As I'm writing this article, Berkshire has released their Q1 2008 earnings. Their net profit went down 64% compared to the same period last year, due to the recession and loss in the derivative market. We still think Berkshire worths a lot more than what was reported as earnings. According to GAAP, they can only report earnings on companies that they own equal to or more than 20% of the holding so there are a lot of earnings not appearing on their 10K and 10Q.