Wondering whether (1) the latest AR has negatively influenced your assessment of the advisability of holding BRK long term...

Nope.
Sometimes they have a slow couple of years, sometimes they have a fast couple of years.
But the money keeps stacking up, and they don't take any big risks. I don't see either of those changing.
Slowing, yes, but not going away.

I generally count on them managing inflation + 7%. If I ever have a reason to abandon that view, I'll reassess my long term commitment.
My conservative expectation is inflation plus 7-8%.
I hope for more than 8%, but whenever we get it I view is as yet another one-time bonus.

As mentioned, the slope of the trend line has been inflation + 8.58% in the last decade or so.
It has been a good stretch, particularly 2016-2021 at an implausible inflation + 10.9%. A little slower lately, it seems.
An optimist's view:
Maybe there is just a lag for inflation and fuel costs to feed through to their revenues, particularly the regulated divisions.

Jim

Berkshire Hathaway FAQ

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