Berkshire Hathaway Annual Letter 2008

I would suggest any person interested in value investing consider reading Berkshire Hathaway’s annual letter. A good link to other commentary on the annual letter can be found on here. As always it is a fairly optimistic analysis of  the years to come with a little grandfatherly advise tossed in. Buffet has always measured the value of Berkshire in terms of book value. Last year there was a decline in book value for Berkshire of 9.6% compared with the S&P of 27.4% which ranks as the best relative performance in 6 years. 

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