Warren Buffett’s 32st annual Chairman’s Letter to Berkshire Hathaway (BRKA, BRKB) shareholders, released over the weekend, is one of those must-read reports that every serious investor should spend a few minutes perusing. It is essentially Buffett’s annual review of the various Berkshire Hathaway operations. Yes, it has been the worst year ever for Berkshire, but the Letter nevertheless contains a treasure trove of wit and wisdom from this iconic investor.
We are confronted with grim economic news every day, but it is nevertheless sobering to year Buffett saying: “The economy will be in shambles throughout 2009 – and, for that matter, probably well beyond.” And as far as the US government’s actions to resolve the economic crisis is concerned, he remarked: “Economic medicine that was previously meted out by the cupful has recently been dispensed by the barrel. These once-unthinkable dosages will almost certainly bring on unwelcome aftereffects.”
To gain some insight in the Oracle of Omaha’s actions in these troubled times, please click the thumbnail below.
All Buffett’s previous letters can be accessed by clicking here.
An interesting analysis of Buffett’s actions during the past year comes from Bruce Greenwald, Columbia Business School professor, who participated in a CNBC discussion together withMario Gabelli of Gamco Investors and Carlos Mendez of ICP Capital.
Please click on the image below to view the video clip.
Source: CNBC, February 2, 2009.
