Filed under: Berkshire Hathaway (BRK.A), Citigroup Inc. (C), Merrill Lynch (MER), Federal Natl Mtge (FNM), Southwest Airlines (LUV), Washington Mutual (WM), AMR Corp (AMR), UAL Corp (UAUA), JetBlue Airways (JBLU), Delta Air Lines (DAL)
As you can tell from this post on my blog, I am no fan of value investing. While I believe investors, especially smaller investors, should partake in more aggressive strategies, I do respect its high priest, Warren Buffett. Since its release late Friday last week, his annual letter to Berkshire Hathaway (NYSE: BRK.A) shareholders has already been dissected here, here and here by those much smarter than me, but I offer my take on four important passages in his remarkable letter:
“You only learn who has been swimming naked when the tides goes out - and what we are witnessing at some of our largest financial institutions is an ugly sight.”
Hmm, could he be referring to troubled companies like Washington Mutual (NYSE: WM), Citigroup (NYSE: C) Merrill Lynch (NYSE: MER), Ambac Financial (NYSE: ABK) and Fannie Mae (NYSE: FNM)? Too late to do anything about it this cycle, but in the future we need greater industry transparency!
Continue reading Buffett letter offers great lessons for investors
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