查理跟我相信Berkshire依然是所有股东、债权人、保户及员工最坚强的财务堡垒，我们对于任何可能的潜在重大意外都戒慎恐惧，或许对于长期性衍生性金融商品的大量交易及巨额膨胀的无担保应收款项的保留态度，让我们看起有点过虑了，但我们还是认为衍生性金融商品是财务金融的毁灭性武器，其所带来的危险，虽然是潜在不可知，但绝对是致命的可能。
Investments股票投资
Below we show our common stock investments. Those that had a market value of more than $500 million at the end of 2002 are itemized.下表是Berkshire 2002年市价超过5亿美元以上的股票投资。
12/31/02Shares Company Cost Market (dollars in millions)
151,610,700 American Express Company ............. $ 1,470 $ 5,359
200,000,000 The Coca-Cola Company ..................... 1,299 8,768
96,000,000 The Gillette Company.................. 600 2,915
15,999,200 H&R Block, Inc................................... 255 643
6,708,760 M&T Bank......................................... 103 532
24,000,000 Moody’s Corporation...................... 499 991
1,727,765 The Washington Post Company ................
