Here’s some must-reading for the week (or weekend). Berkshire-Hathaway’s annual report includes Warren Buffett’s 23-page letter to investors. Buffet writes in plain English about his very complex buiness and describes strategy, management fundamentals and market dynamics in a way that a 12-year-old can understand. A pretty good job for a company that made $16.9 billion and returned 18.2 percent on his per-share book value. In fact, Buffett claims his company set a “record for a one-year gain in net worth — more than has ever been booked by any American business …”
Here are a few tidbits I took away from this:
It is well worth the read. What are you reading?