Annual Letter

Every year, one of my favorite things to read is the Berkshire Hathaway annual letter . The 2018 version is out and, as always, is a beautiful thing to read if you have any interest in business and economics. I particularly loved Warren Buffett’s reflections at the end of the letter in a section called The American Tailwind, which follows: On March 11th, it will be 77 years since I first invested in an American business. The year was 1942, I was 11, and I went all in, investing $114.75 I had begun accumulating at age six. What I bought was three shares of Cities Service preferred stock. I had become a capitalist, and it felt good. ...

I just sent this note out to our CEO list. I was going to write a different post today about The Founder Wellness Pact: How Accelerators are Addressing Depression Among Founders but I’m going to save it for next week. After sending this note out, I decided it was the clearest thing I could add to your world today going into the weekend. Jeff Bezos’ annual letter is now up there with Warren Buffett’s annual letter as must reads for me. However, it is a lot shorter (5 minutes vs. 20 minutes). ...