Billionaire Memo
Painted portrait of Warren Buffett Warren Buffett · set in the movement 25 memos drawn
quoted verbatim

The Principals · Jewel XXI of XXI

Warren Buffett

Chairman of Berkshire Hathaway, the most successful investor of all time.

Calibres
Berkshire Shareholder Letters
Jewels set
25 memos drawn to date
Most recent
March 2026

Drawn from Buffett

All memos →
Ref. 260 · deep dives

How 4 Billionaires Handle Failure — And What Their Differences Reveal

Warren Buffett's 1968 Annual Letter, Principles: Life and Work, Direct from Dell, Call Me Ted

Power reserve 12 min
Ref. 266 · deep dives

How 4 Billionaires Lead When Everything Is Falling Apart

Grinding It Out, Shoe Dog: A Memoir by the Creator of Nike, What I Know for Sure, Berkshire Shareholder Letters

Power reserve 13 min
Ref. 224 · deep dives

How 4 Billionaires Handle Failure — And What Their Approaches Reveal About Success

Berkshire Shareholder Letters, Principles: Life and Work, What I Know for Sure, Bloomberg by Bloomberg

Power reserve 11 min
Ref. 85 · deep dives

How 4 Billionaires Handle Failure — And What They Do Differently

Bloomberg by Bloomberg, Berkshire Shareholder Letter 1999, Measure What Matters, Principles: Life and Work

Power reserve 11 min
Ref. 138 · deep dives

The Price of the Prize: What 4 Billionaires Really Gave Up to Get There

Principles: Life and Work, The Virgin Way, Berkshire Shareholder Letter 1999, Trailblazer

Power reserve 12 min
Ref. 264 · versus

Warren Buffett vs. Ray Dalio: Timeless Principles vs. Cyclical Systems

Berkshire Shareholder Letters, How Countries Go Broke

Power reserve 5 min
Ref. 100 · versus

Warren Buffett vs. Ray Dalio: Ignoring the Macro vs. Mapping It Obsessively

Berkshire Shareholder Letter 1999, How Countries Go Broke

Power reserve 5 min
Ref. 208 · versus

Warren Buffett vs. Sam Walton: Sitting Still vs. Never Standing Still

Berkshire Shareholder Letter 1999, Made in America

Power reserve 5 min
Ref. 88 · versus

Warren Buffett vs. Ray Kroc: Waiting for the Perfect Pitch vs. Grinding Through the Miss

Berkshire Shareholder Letter 1999, Grinding It Out

Power reserve 4 min
Ref. 249 · Single Quotes

Warren Buffett’s Four-Word Rule That Separates Price From Value

Tools of Titans

Power reserve 2 min
Ref. 205 · quick takes

Warren Buffett’s Honest Confession About Getting Too Big

Berkshire Hathaway Shareholder Letters

Power reserve 1 min
Ref. 185 · Single Quotes

Warren Buffett’s Honest Confession: Why Getting Bigger Made Winning Harder

Berkshire Hathaway Shareholder Letters

Power reserve 3 min

Their calibres in the library

Cal. 001 Berkshire Shareholder Letters 2 memos drawn

The next Buffett memo arrives on a Tuesday

One memo a week from the manufacture: the passage as written, the chapter it lives in, and what it is worth to whatever you are building.

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