The following is a guest post from a Vintage Value Investing reader:
Longtime reader, first-time contributor. Last year my colleague George and I set off to understand the key lessons, thought processes and events of Berkshire Hathaway through Warren Buffett’s annual letters to shareholders.
What resulted was roughly 100 pages of our favorite takeaways organized in chronological order – allowing the reader and ourselves to observe how positions and opinions have evolved (or more frequently haven’t) over the years. Through this exercise we wanted to explore not only Buffett the investor, but also Buffett the philosopher, teacher, and member of society.
I hope you enjoy reading as much as we enjoyed the process of organizing the document!
-Tucker J. Stein
Link: Consolidated and Condensed Letters to Berkshire Hathaway Shareholders