Reuters, The Wall Street Journal, and The Washington Post covered Warren Buffett's most recent letter to shareholders. The Journal's fascination is evident in its annotated version of the letter and its description of the excitement: 

"Warren Buffett's annual letter to shareholders of Berkshire Hathaway, released Saturday, is always pored over for investing smarts, hints at who might succeed him, and folksy wisdom about life and business.

"This year's 50th-anniversary edition didn't disappoint. It offered readers a breezy and informative waltz through the history of conglomerates, and aphorisms such as "never underestimate the man who overestimates himself." It even included advice to get the giant root beer float for dessert at Piccolo's, if you happen to be in Omaha for the annual meeting that marks Buffett's 50th year at the helm. ('Only sissies get the small one,' he wrote.)"

The Journal also summarized a few leadership lessons from the letter, including these:

• Admit your mistakes and stay humble.
• Shower people who work for you with praise.
• Character is crucial. 

Buffett's previous annual letters are logged on Berkshire Hathaway's website.

Discussion Starters: 

• Explain the fascination with Buffett's letters. 
• Read the latest or an older letter. Describe the tone, messages, and organization. What are the communication objectives? Did Buffett achieve them?