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

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…...