There are a million reasons for investors to go and read Warren Buffett's annual letter to Berkshire Hathaway Inc. (NYSE: BRK.A) shareholders. In fact, at this point – let's face it – they're really letters to every single shareholder on Earth.
In these letters, you're absolutely guaranteed to find some of the most uncommon common sense in all of Anglo-American capitalist thought, as well as fundamentally sound arguments and insights colored by deep experience.
In other words, the "Oracle of Omaha," the stock market's friendly, shrewd, and unreasonably rich grandpa, dishes really good stuff in these letters – in plain, Nebraska-accented English, to boot.
But here's the catch: If you're going to "invest like Buffett," you absolutely, positively must be prepared to hang tough like Buffett…
…and, inevitably, you have to be ready to hemorrhage money like Buffett.
That is exactly why what the Oracle of Omaha said this year was so shocking to the uninitiated.
Turns out, sometimes the Oracle's job is to scare the living daylights out of you – go ask any ancient Greek you meet at the bar.
Here's the hard truth…
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