Warren Buffett's Annual Letter
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It's that time again, when Berkshire Hathaway shareholders and Warren Buffett devotees pore over his annual letter.
Forbes identifies as "The Seven Best Quotes" in the letter, summarized as follows:
- Stock Buybacks Aren't Always Bad
- Vanguard's John Bogle Is A Hero
- Don't Bet Against America
- Fake Profits!
- Fees... Cut It Out!
- Why Berkshire Loves Dividends
- Buy When Others Are Fearful
This year, as The Wall Street Journal reports, Buffett "declared victory in a decade-long, $1 million bet that low-cost index funds would earn more than expensive hedge funds." This conclusion is reflected in at least two of the quotes Forbes selected: the one about Vanguard and the one about fees.
Berkshire Hathaway's website lists Buffett's annual letter every year since 1977. The website design is so simple-some might say boring.
Discussion:
- Analyze the letter using business writing principles. Who are the primary and secondary audiences? How it is organized? What are the main points? How would you describe the writing style?
- Check out the website. What's your impression? Why do you think it looks as it does?
