The Complete Financial History of Berkshire Hathaway, Second Edition
28 April 2026Synopsis
An authoritative company history of Berkshire Hathaway, fully updated to cover the last five years.
Beginning with Berkshire's origins as a struggling textile company, The Complete Financial History of Berkshire Hathaway examines the development of the modern-day conglomerate year-by-year and decade-by-decade, as it transforms into what it is today.
This comprehensive analysis distils over 10,000 pages of research material, including Warren Buffett’s Chairman’s letters, Berkshire Hathaway annual reports and SEC filings, annual meeting transcripts, subsidiary financials, and more. The analysis of each year is supplemented with Buffett’s own commentary, and examines all important acquisitions, investments, and other capital allocation decisions. The appendices contain balance sheets, income statements, statements of cash flows, and key ratios dating back to the 1930s, materials brought together for the first time.
Combining incredible access with insightful analysis from CEO and author Adam J. Mead, this book allows readers to follow the logic, reasoning, and capital allocation decisions made by Warren Buffett and Charlie Munger from the very beginning. Existing Berkshire shareholders and long-time observers will find new information and refreshing analysis, in this masterful reference guide to the decades of financial moves that built the modern-day Berkshire Hathaway.
'A must-read that belongs on the bookshelf of any serious investor' —Guy Spier, Founder of Aquamarine Capital and author of The Education of a Value Investor
Details
28 April 2026
9781804093849About the author
Adam J. Mead is a life-long student of business and capital allocation.
He is the CEO and Chief Investment Officer of Mead Capital Management, LLC, a boutique investment management firm that employs proven value investing techniques and private ownership principles to the ownership of public companies. He is also the Founder of Watchlist Investing, a value investing newsletter on Substack and the author of The Complete Financial History of Berkshire Hathaway.
Adam spent over a decade in banking in commercial credit, including observing first-hand the aftereffects of the Great Recession and the long credit expansion afterward.
Adam has been investing in public securities markets since 2004. He owned two small businesses (non-financial) during college, and grew up in a family of small business owners. He is involved with numerous local non-profit organizations.
Adam holds a Master of Business Administration from Southern New Hampshire University, from which he graduated Summa Cum Laude in 2013. Previously he graduated Summa Cum Laude from Southern New Hampshire University in 2008 with an undergraduate degree in Business Studies and a Minor in Economics.
Reviews
The question must be asked, 'Why another book?' When you read this monumental effort by Adam Mead, the answer will be obvious...read cover to cover, both the uninitiated to Berkshire and its most ardent followers will derive enormous utility and satisfaction from it... I learned so many new and important things about Berkshire and its history. It is my pleasure to encourage you to enjoy this gem.
If you are a value investor, a Berkshire Hathaway, or Warren Buffett fan, this book is the motherlode! The most comprehensive and detailed history of Berkshire Hathaway to date. A must-read that belongs on the bookshelf of any serious investor.
Few activities can be more rewarding for any value investor than studying the history and evolution of Warren Buffett and Berkshire Hathaway. Adam has done us all a huge favor with his yeoman efforts in producing this treatise. Since it is chronologically ordered, it is an invaluable reference guide for all things Berkshire.
For students of history, especially the history of Berkshire Hathaway’s early days, Adam Mead’s book is a must read.
Books by Adam J. Mead
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