Sharing here more as a discussion piece, not necessarily due to its relevance in the market for M&A's etc. I thought this was an excellent example of a "letter

Sharing here more as a discussion piece, not necessarily due to its relevance in the market for M&A's etc. I thought this was an excellent example of a "letter from the CEO or Chairman" and love the transparency even on such a high level. I came across this letter from Warren Buffet while doing some research, and I ended up reading through Shareholder Letters all the way back to the 70's: http://www.berkshirehathaway.com/letters/letters.html http://www.berkshirehathaway.com/letters/letters.html