Parsing Mr. Buffett

No doubt many readers will have noticed that this year’s annual Shareholder Letter from legendary investor Warren Buffett is a special edition, as it is now some 50 years since he took control of then-textile business, Berkshire Hathaway. I strongly recommend that you read it in full; http://www.berkshirehathaway.com/letters/2014ltr.pdf As an aside, if you can get hold of any of the letters Mr. Buffett wrote when he managed Buffett Partners Limited (BPL), read those too. The...