👤 Alice Schroeder

📝 Description

Alice Schroeder was an equity analyst (at PaineWebber and later Morgan Stanley) who became prominent for her exhaustive analysis of Berkshire Hathaway. She eventually became the author of Buffett's authorized biography, The Snowball.

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🔗 Connection to Berkshire

• The Analyst Report: In 1999, Buffett praised Schroeder for publishing the first comprehensive "toolkit" for investors to evaluate Berkshire, particularly its complex insurance operations and the value of float.
• Insurance Expertise: Buffett noted that Schroeder, an accountant by training, understood the insurance business and its metrics (like the cost of float) with first-class precision.

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💡 Key Mentions

• 1999 Meeting: Buffett explicitly recommends her report to shareholders as a useful guide for calculating the company's value, marking a rare instance of a CEO endorsing a specific analyst's work.

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