5 ms·

I had a chance to read the letter - I went from knowing nothing about Buffet's businesses to knowing a lot, very quickly. On a related note, I wonder if Gates

by pokoleo 12y ago

I had a chance to read the letter - I went from knowing nothing about Buffet's businesses to knowing a lot, very quickly. On a related note, I wonder if Gates writing this praise was spurred by something, maybe some news about Buffet. He's relatively senior (84), and has been running Berkshire for a while now. Maybe he's getting ready to give up the reins. In fact, he builds up the reputation his menagerie of "very experienced people" to run individual businesses - I wonder how they will run things when Warren isn't around. While you're at it, take some time to check out the Berkshire Hathaway site. It directly services what they're trying to do: provide investor information. http://www.berkshirehathaway.com/ http://www.berkshirehathaway.com/

elmin 12y ago
There has been a lot of talk recently of him naming Charlie Munger as his successor. I think this letter may have been a handoff of sorts. He may make a specific announcement at the meeting.
- tim333 12y ago
  He sometimes jokes about it but Charlie is 91.
vskarine 12y ago
It's funny to see Geico ad at the bottom of the http://www.berkshirehathaway.com/ http://www.berkshirehathaway.com/ great marketing
breck 12y ago
Could be. From the end of the letter: "Both the board and I believe we now have the right person to succeed me as CEO – a successor ready to assume the job the day after I die or step down."
- jebus989 12y ago
  He talks about this in lots of annual letters. Reality is that Berkshire Hathaway undoubtedly has (a perception of) the lowest bus factor of any holdings group and Buffett has been priming for years to prevent shares tanking when he inevitably passes or steps down. Aside: to those who enjoyed reading this annual letter I recommend "The Essays of Warren Buffett" — an arranged collection of edited previous letters by theme (though they are all also freely available online).
kibibu 12y ago
Love it - one of the world's richest people, and his site is built using Word
- sebastianavina 12y ago
  as far as we know, it could be written in emacs org mode.
  - icebraining 12y ago
    <meta name="GENERATOR" content="MSHTML 8.00.6001.18828">
  - akx 12y ago
    Well, then they've gone to some lengths to make it look like it's not. > <meta name="GENERATOR" content="MSHTML 8.00.6001.18828">
- onion2k 12y ago
  A website is a marketing operation. BerkshireHathaway don't really need to do marketing because they're more a legal entity for the purpose of organising things efficiently rather than a business with customers.
  - mohawk 12y ago
    The marketing of that website is that they don't waste money.
- cameldrv 12y ago
  It's all part of the image. Buffett gets a lot of miles out of the (authentic or not) aww-shucks folksy homespun image. He can do questionable deals and still not have his integrity questioned, and it's disarming in negotiations, in which, Buffett is as tough as they come.
  - Spooky23 12y ago
    The image is a funny mix of contrasts. In the 90s, he was living in a $100-200k home that he had lived in for 30 years and drove a pickup truck or crown Vic. But he travelled in a Gulfstream!
sumedh 12y ago
> I wonder how they will run things when Warren isn't around. Most probably Ajit Jain would take over as CEO. A significant part of the investment portfolio is already handled by two other managers.
ldec 12y ago
"I wonder if Gates writing this praise was spurred by something" - it was likely spurred by criticism in the economist: http://www.economist.com/news/business/21645746-warren-buffetts-50th-annual-missive-his-companys-shareholders-obfuscates-rather?zid=295&ah=0bca374e65f2354d553956ea65f756e0 http://www.economist.com/news/business/21645746-warren-buffe...
- webehere 12y ago
  Criticism was valid. Why not name a successor? Otherwise, the Economists's review read more like a critique of Yellow Submarine - I mean, "Worst Beatles Album" is hardly a critique, and more of a "worst of a great bunch" type of commentary.

by pokoleo 12y ago

elmin 12y ago

There has been a lot of talk recently of him naming Charlie Munger as his successor. I think this letter may have been a handoff of sorts. He may make a specific announcement at the meeting.

tim333 12y ago
He sometimes jokes about it but Charlie is 91.

vskarine 12y ago

It's funny to see Geico ad at the bottom of the http://www.berkshirehathaway.com/ http://www.berkshirehathaway.com/ great marketing

breck 12y ago

Could be. From the end of the letter: "Both the board and I believe we now have the right person to succeed me as CEO – a successor ready to assume the job the day after I die or step down."

jebus989 12y ago
He talks about this in lots of annual letters. Reality is that Berkshire Hathaway undoubtedly has (a perception of) the lowest bus factor of any holdings group and Buffett has been priming for years to prevent shares tanking when he inevitably passes or steps down. Aside: to those who enjoyed reading this annual letter I recommend "The Essays of Warren Buffett" — an arranged collection of edited previous letters by theme (though they are all also freely available online).

kibibu 12y ago

Love it - one of the world's richest people, and his site is built using Word

sebastianavina 12y ago
as far as we know, it could be written in emacs org mode.
- icebraining 12y ago
  <meta name="GENERATOR" content="MSHTML 8.00.6001.18828">
- akx 12y ago
  Well, then they've gone to some lengths to make it look like it's not. > <meta name="GENERATOR" content="MSHTML 8.00.6001.18828">
onion2k 12y ago
A website is a marketing operation. BerkshireHathaway don't really need to do marketing because they're more a legal entity for the purpose of organising things efficiently rather than a business with customers.
- mohawk 12y ago
  The marketing of that website is that they don't waste money.
cameldrv 12y ago
It's all part of the image. Buffett gets a lot of miles out of the (authentic or not) aww-shucks folksy homespun image. He can do questionable deals and still not have his integrity questioned, and it's disarming in negotiations, in which, Buffett is as tough as they come.
- Spooky23 12y ago
  The image is a funny mix of contrasts. In the 90s, he was living in a $100-200k home that he had lived in for 30 years and drove a pickup truck or crown Vic. But he travelled in a Gulfstream!

sumedh 12y ago

> I wonder how they will run things when Warren isn't around. Most probably Ajit Jain would take over as CEO. A significant part of the investment portfolio is already handled by two other managers.

ldec 12y ago

"I wonder if Gates writing this praise was spurred by something" - it was likely spurred by criticism in the economist: http://www.economist.com/news/business/21645746-warren-buffetts-50th-annual-missive-his-companys-shareholders-obfuscates-rather?zid=295&ah=0bca374e65f2354d553956ea65f756e0 http://www.economist.com/news/business/21645746-warren-buffe...

webehere 12y ago
Criticism was valid. Why not name a successor? Otherwise, the Economists's review read more like a critique of Yellow Submarine - I mean, "Worst Beatles Album" is hardly a critique, and more of a "worst of a great bunch" type of commentary.