Subject: Re: Hopes, for Greg’s first letter?
"In 2025, Berkshire produced $46 billion of net cash flows from operating activities, compared to a five-year average of more than $40 billion"

What a curious way to put it. The five-year average could be $41 billion, and the 2025 results would have bested it, or the five-year average could be $92 billion, and the 2024 results would have indicated something drastically failed. And either way the sentence would be technically correct.