Published 3/2/2009
by karim.bardeesy
at The Big Money
Sometimes letters will bring succor when the numbers fail. Among the losers in the financial disaster of 2008 was Berskhire Hathaway , down 9.6 percent on the year. Though the company still beat the S&P 500 by a healthy 27.4 percentage points, it was only the second annual loss in 44 years for the firm headed by Warren Buffett and Charlie Munger. Buffett was still able to deliver a smile, though, via his annual letter to the company's shareholders . The Big Money has dug up the Juicy Bits, filled with all the Buffett trademarks: earthy analogies, folksy wisdom, self-satisfied grunts, broadsides against the competition, pronouncements on history and public policy, and humble admissions of failure.
Buffett tends to trade in the kind of metaphor you might expect from behind the barn, not near the front of a corporate report, as he shows in the following excerpts.
Participants seeking to dodge troubles face the same problem as someone seeking to avoid venereal disease: It's not just ...
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