The Oracle of Omaha on America
Warren Buffett released the 50th (!!!) annual Berkshire Hathaway shareholder letter over the weekend. Buffett is a living legend, someone whom students of business and finance will be studying for centuries. Additionally though not wholly unrelated, he is a fantastic storyteller. Here is an example from his latest letter (click on the picture to enlarge):
As Buffett alludes, the dominant posture is pessimism about America and its future. The media feeds us a never-ending diet of stats (education, internet, corruption) that signal our diminishing prowess. Perhaps, Buffett's greatest skill as an investor is to ignore the noise and see the big picture. It's great to occasionally be reminded of just how striking that picture is.