Annotated Annual Letter

[netnet]

I just came across this,  the Wall Street Journal has annotated the annual letter. I have only gotten a few pages in, but the first comment from Russo is worth the price...oh right it's free.  8)

 

http://www.documentcloud.org/documents/1678424-berkshire2014.html#document/p1

[gfp]

Really great - thanks for posting this!

[zarley]

I just came across this,  the Wall Street Journal has annotated the annual letter. I have only gotten a few pages in, but the first comment from Russo is worth the price...oh right it's free.  8)

 

http://www.documentcloud.org/documents/1678424-berkshire2014.html#document/p1

 

Get more than a few pages in and you'll recognize at least one very familiar name. :)

[Grenville]

Awesome! Thanks for posting. Lots of recognizable names.

[DCG]

So is Charlie hinting/implying that Buffett will be leaving the company soon?

[cubsfan]

Fantastic commentary from the right people - thanks for posting.

[dcollon]

Very interesting.  Thanks for posting the link.

[Guest longinvestor]

The commentary was insightful. One manager points out that there are many telegraphed messages for several stakeholders; small shareholders, subsidiary chiefs etc. I agree that this letter will be quoted most for the next 50 years.

 

Somewhat of a glaring miss is that none of the managers chose to comment on the intrinsic value section of the letter. The bullish tone of those managers holding BRK in their pf comes through, somewhat. Yet no commentary on the IV? Even if not throwing out a number/range, discuss the framework at least? After all, making folks think and behave in terms of IV is WEB's seminal contribution to the world.