Disclaimer, trademarks and privacy

Independence

Berkshire Desk is an independent, unofficial research site. It is not affiliated with, endorsed by, sponsored by, or connected to Berkshire Hathaway Inc., Warren Buffett, Greg Abel, or any Berkshire subsidiary. Nothing here is an official Berkshire communication.

Trademarks

Berkshire Hathaway®, BRK.A, BRK.B, and the names of Berkshire’s businesses are trademarks or trade names of Berkshire Hathaway Inc. or its affiliates. They are used here only to identify the public company this unofficial model is about (nominative fair use). This site does not use Berkshire’s corporate logo. “Berkshire Desk” is an independent name for this research tool and does not imply any licence from Berkshire Hathaway Inc.

Not investment advice

Nothing on this site is investment, tax, legal or accounting advice. Nothing is a recommendation, solicitation, or invitation to buy, sell or hold any security. Intrinsic value figures are our estimates, not facts, not a price target, and not a statement of what Berkshire is “worth.” Do not make investment decisions based on this desk. Do your own work, or consult a qualified adviser authorised in your jurisdiction.

This site is not a registered investment adviser, broker-dealer, or commodity trading advisor. It is not authorised or regulated by the UK Financial Conduct Authority. It is not a financial promotion and is not an invitation or inducement to engage in investment activity under the UK Financial Services and Markets Act 2000.

Estimates and no warranty

Filings, prices and exchange rates can be delayed, incomplete or wrong. Some inputs are seeded judgements (for example Japan ownership percentages, warrant terms, and the multiples you choose). The model can contain errors. Data is provided “as is,” without warranty of any kind, express or implied, including accuracy, merchantability, or fitness for a particular purpose.

To the fullest extent permitted by law, the operator of Berkshire Desk is not liable for any loss or damage arising from use of the site, including trading losses, data errors, or downtime.

Shareholder letters

Warren Buffett’s shareholder letters and the Owner’s Manual are copyrighted works of Berkshire Hathaway Inc. This site does not reproduce those documents. Summaries on the Letters page are our own paraphrases for commentary, with links to the originals on Berkshire’s website. Read the letters there. They are the primary source.

Data sources

SEC EDGAR filings are public records. Market prices and FX are taken from third-party public feeds (currently Yahoo Finance, with a Stooq fallback). Those providers are not affiliated with this site and do not endorse it. See Sources for what is automatic versus seeded.

Privacy

Preferences (theme, multiples, last-visit snapshot) are stored in your browser’s localStorage. They are not sent to us as a profile. Optional sign-in, if you use it, stores only what the auth provider supplies (typically name and email) to keep a session. We do not sell personal data. Server logs may include standard request metadata. Analytics, if enabled, is used only to understand aggregate traffic.

Governing notice

If any part of this notice is held unenforceable, the rest still applies. We may update this page. The version on the site when you use it is the one that applies.