Berkshire Hathaway, a privately owned company founded in 1839, is primarily involved in real estate. As of 2023, it employs approximately 30 people and is headquartered in the United States. While initially a textile manufacturing company, its current operations and holdings are significantly diversified beyond its original focus.
Warren Buffett shared a lesson from Charlie Munger in a shareholder letter: immediately correct mistakes instead of delaying, as Munger called “thumb-sucking.” Munger stated that delaying correction is a cardinal sin and problems require addressing, even if uncomfortable. A report indicates the U.S. property/casualty insurance segment reported record investment income of $89 billion in 2024, a 20% year-over-year increase due to higher interest rates and returns on bonds and short-term investments. The reinsurance market's role in stabilizing insurance companies facing high claim volumes, particularly during natural disasters, is highlighted. The global reinsurance market reached approximately $458.72 billion in 2024 and is projected to reach approximately $798.54 billion by 2034, growing at a 5.70% CAGR.
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