by mrcet007
Warren Buffett’s annual letter to Berkshire Hathaway shareholders
https://fm.cnbc.com/applications/cnbc.com/resources/files/2020/02/22/2019ltr.pdf
Charlie and I urge you to focus on operating earnings – which were little changed in 2019 – and to ignoreboth quarterly and annual gains or losses from investments, whether these are realized or unrealized.
My assumption
- operating earnings = EBIT
- quarterly gains/losses = Net income/profit
Why is EBIT a better metric than Net Income for valuating companies?
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