BRK.B) - Get Report, run by billionaire investor Warren Buffett, posted fourth-quarter operating earnings of $5.02 billion, up 14% from a year earlier.
Berkshire Hathaway reported net earnings of $35.84 billion, or $23,015 per Class A share. Earnings were $15.34 per Class B share compared with $11.94 a share a year earlier.
The period included investment and derivatives gains of $30.45 billion.
Class A shares have outsized voting rights compared with class B shares.
Buffett, Berkshire Hathaway s chairman, told shareholders in his widely anticipated annual letter they should never bet against America.
“In its brief 232 years of existence . there has been no incubator for unleashing human potential like America,” Buffett wrote in the letter released Saturday. “Despite some severe interruptions, our country’s economic progress has been breathtaking. Our unwavering conclusion: Never bet against America.”
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Jim Cramer says this market simply refuses to wallow in things that are going wrong and instead is focused on what is going right or, even better, what could go right.