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Stocks A to Z / Stocks B / Berkshire Hathaway (BRK.A) ❤
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Author: Brickeye ✸  😊 😞
Number: of 15058 
Subject: Re: Munger's beef with GAAP changes
Date: 08/14/2024 5:19 AM
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"Or is it still OK from tax law viewpoint, and he just hated giving a more accurate picture to the shareholders?"

Actually, it's the opposite. Having to report "earnings" on stock gains that aren't actually sold distorts the shareholders ability to analyze bottom line earnings. That's why Warren and Charlie said if you're looking for a snapshot of how the company's doing look at the operating earnings.
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