Berkshire Hathaway Letters to Shareholders, 2013
When I started learning about Warren Buffett, one of the first things I did was buy a printer that could print on both sides of the page. I got a ream of three hole paper, and filled a few binders with Buffett's letters to investors, all of which are freely available on his website. . . .Well, now they have been helpfully compiled by my friend Max Olson. This edition includes charts I haven't seen anywhere else, showing Berkshire's cost of float (to the uninitiated: Buffett has borrowed money more cheaply than the U.S. government over the years, and used this fuel to invest at incredible rates of return), a chronological list of acquisitions, and even includes a topic index.Kudos to Olson and Buffett for making this public. Now it's up to you, the reader, to make the best of it. --Marcelo P. LimaMax Olson has done a great job for all Warren Buffett fans in putting this great collection of letters together in one easy read. --Guy SpierMax Olson has done a great job for all Warren Buffett fans in putting this great collection of letters together in one easy read. --Guy Spier