Buffett’s Letter: Shorter and Less Upbeat

An article in Institutional Investor published after the release of Berkshire’s annual letter to shareholders said, “It isn’t what Warren Buffett wrote in his shareholder letter—it’s what he didn’t.” Noting the brevity of the letter compared to years past, the article notes that the “low word count should be unsettling to Buffett-watchers,” underscoring, for example, the “scant attention” paid to Kraft Heinz, “which lost more than a quarter of its stock market capitalization” only one… Read More

Takeaways from Berkshire’s Annual Letter to Shareholders

Here are some highlights of Warren Buffett’s widely-anticipated annual letter to Berkshire Hathaway shareholders: Format Change While for thirty years the billionaire investing legend has opened with a paragraph concerning the change in the firm’s per-share book value, this year he wrote, “It’s now time to abandon that practice,” citing three reasons for the change: Berkshire has “gradually morphed from a company whose assets are concentrated in marketable stocks into one whose major value resides… Read More