An Owner's Manual

Written when Berkshire created B-shares, Buffett published this comprehensive document outlining 15 owner-related business principles — the foundational articulation of Berkshire's unique shareholder relationships and management philosophy.

“Charlie and I think of our shareholders as owner-partners, and of ourselves as managing-partners. We eat our own cooking — the great majority of our personal wealth is held in Berkshire stock. We want to deliver economic results, not manage our image.”