Updated Feb 28, 2021 | 06:51 IST Wall Street loves the fees that deal-making generates, and the press loves the stories that colorful promoters provide, billionaire Warren Buffett said in the letter. Warren Buffet writes annual letter to Berkshire Hathaway shareholders; Check full text here American investor Warren Buffett, Chairman and CEO of Berkshire Hathaway Inc, released the letter to the company's shareholders on February 27. Here is the full text of the letter shared by the billionaire: Berkshire earned $42.5 billion in 2020 according to generally accepted accounting principles (GAAP). The four components of that figure are $21.9 billion of operating earnings, $4.9 billion of realized capital gains, a $26.7 billion gain from an increase in the amount of net unrealized capital gains that exist in the stocks we hold and, finally, an $11 billion loss from a write-down in the value of a few subsidiary and affiliate businesses that we own. All items are stated on an after-tax basis.