Is Wesfarmers (ASX:WES) Australia’s Berkshire Hathaway?

2 min read

Why following Buffett’s business model brings success I’ve wondered why Wesfarmers is always on the news here in Australia. Wesfarmers is a conglomerate. It’s in hardware, retail, online shopping, chemicals, lithium and even beauty.  Nothing about their business model really makes sense other than they make a lot of money from their flagship hardware store and pour it into other investments.  But, as I read the Wesfarmers’ annual report, it felt strangely familiar to how Berkshire Hathaway is structured but at a smaller scale — although we’re still talking tens of billions of dollars in market cap. Complete autonomy What makes Wesfarmers and…...

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Jason Huynh I'm a data analyst who enjoy reading annual reports. My hobbies include exercise, cooking and being a well rounded dad. I work as an analyst in the higher education sector in Australia but my passion is in investing. I used to believe that data could solve everything but it wasn't until I read Charlie Munger's "Poor Charlie's almanack" that I realised that I've been thinking in silos all this time and I really needed to expand my experiences and reading. What concerns me about life is making silly choices and following the trend aimlessly. I believe in critical thinking and serving others as I would like to be served.