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j85致股东信英文版.pdf

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BERKSHIREHATHAWAYINC.

TotheShareholdersofBerkshireHathawayInc.:

Lastyearwemadeaprediction:Areduction[inBerkshiresnetworth]isalmostcertain

inatleastoneofthenextthreeyears.Duringmuchof1990ssecondhalf,wewereonthe

r

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