Sunday, December 17, 2006

Warren Buffett - Berkshire Holdings Shareholder Letters

Although Warren Buffett has not written any books (at least not to my knowledge), there is a website which contains an invaluable selection of Buffett's writings. The Berkshire Hathaway Shareholder Letters page of the Berkshire Hathaway website contains Warren Buffett's letters to shareholders for the years 1977 through 2005 (the most recent one available).

I highly recommend reading (or at least browsing) through each of the letters written by Warren Buffett. In addition to discussing the performance of Berkshire Hathaway and its various businesses, Buffett also discusses more general concepts.

For example, in the 1987 letter to shareholders, Buffett discusses how Benjamin Graham's famous Mr Market metaphor is useful in developing a mental attitude suitable for dealing with market fluctuations.

And in 2000, Buffett discusses valuation. Among other things, he debunks the myth that growth and value investing are two contrasting styles. He argues that they are simply part of the same equation.

So if, like me, your are keen to read pearls of wisdom straight from the oracle's mouth, then head over to the Berkshire Hathaway website for some enlightenment.