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The week's question
In March 2025, in the thread "Re: OT, out", Umm asked the members: "Do you think it is because America is made up of magical soil that makes businesses based in America magically profitable?" This week it is put to everyone again. The button below opens the small thread re-asking it - read what others have said so far, then give your own answer as an ordinary reply.
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Stocks A to Z / Stocks B / Berkshire Hathaway (BRK.A)
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Author: AdrianC ⎊✹  😊 😞
Number: of 22347 
Subject: Re: Right Multiplier for Retained Cash as IV
Date: 08/18/26 4:43 PM
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Berkshire has over $100B in debt. Should that be factored into the equation? Also wondering about deferred taxes.

Here's the reference:
Berkshire Hathaway: PDF document

The interest cost on all of our debt has been deducted as an expense in calculating the earnings at Berkshire’s
non-insurance businesses. Beyond that, much of our ownership of the first four groves is financed by funds generated
from Berkshire’s fifth grove– a collection of exceptional insurance companies. We call those funds “float,” a source
of financing that we expect to be cost-free– or maybe even better than that– over time. We will explain the
characteristics of float later in this letter.
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This community has written 21,850 posts about Berkshire Hathaway. The article-length ones it recommended most:
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