Adam Mead on the Financial History of Berkshire Hathaway

Adam J. Mead discussed his book, The Complete Financial History of Berkshire Hathaway, at MOI Global’s Meet-the-Author Summer Forum 2021.

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This conversation is available as an episode of Explore Great Books, a member podcast of MOI Global. (Learn how to access member podcasts.)

This session is part of our Meet-the-Author Summer Forum 2021, designed to provide summer reading inspiration to MOI Global members. We look forward to releasing additional conversations in the coming weeks.

Editor’s note: We are delighted to have Alex Gilchrist, a London-based research associate at MOI Global, host the Meet-the-Author Summer Forum 2021.

About the book:

For the first time the complete financial history of Berkshire Hathaway is available under one cover in chronological format. Beginning at the origins of the predecessor companies in the textile industry, the reader can examine the development of the modern-day conglomerate year-by-year and decade-by-decade, watching as the struggling textile company morphs into what it has become today.

This comprehensive analysis distils over 10,000 pages of research material, including 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 where relevant, 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.

The structure of the book allows the new student 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, and a convenient reference guide to the decades of financial moves that built the modern-day respected enterprise that is Berkshire Hathaway.

About 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 New Hampshire-based Registered Investment Advisor he founded in 2014. Adam spent over a decade in banking in commercial credit, including observing first-hand the after effects 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. In addition to managing assets for his clients at Mead Capital, he is involved with numerous local non-profit organisations.

Adam authors the Watchlist Investing newsletter.