Warren Buffett, one of the most successful investors in history, releases his annual letter to the shareholders of his Berkshire Hathaway Inc. early Saturday. It’s one of the most widely read–and most widely discussed–dispatches in the corporate world, often studied for its investing advice and quoted for its folksy insights.
Past letters have ridiculed short-term market forecasts, warned about lofty valuations for stocks, sounded the alarm about derivatives, and thrown shade at everything from MBA programs to mathematical modeling. Mr. Buffett has also frequently used the letters to express his optimism about the future of the U.S., through recessions and market turmoil. And Mr. Buffett always discusses Berkshire, the $420 billion conglomerate he has built over five decades, in great detail.
Indeed, for a certain class of value investor, today is like Christmas, Hanukkah and Ben Graham’s birthday all rolled in to one. The annual letter from the “Oracle of Omaha” to shareholders of his Berkshire Hathaway Inc. is a due out around 8 a.m.
A team of Journal reporters is spending Saturday morning reading the letter and sharing their insights.