I’ve been a Berkshire Hathaway fan since I was in 6th grade, and like many others, I always look forward to reading their annual report. It’s amazing that in the 46 years since Warren Buffett took over management of the company, there hasn’t been a single major down year for investors to fret about. When the S&P shed 9%, 12%, and 22% during the three-year dot-com 1.0 bust, Berkshire’s book value was up about 10%. During the 2008 financial crisis, the S&P dropped 37% while Berkshire only lost 9.6% (their worst year ever). Every Berkshire annual report is written in plain English and provides indispensable advice for all levels of investors, but there are always a handful of choice quotes that really make me proud to put a few pennies where Warren Buffett puts his. Among my favorites from this year’s report include:
… and the most profound passage of the entire report:
That last bit is why no casual investor (and even many professional ones) should ever think they know even half as much about investing as Warren Buffett. For a compelling, uplifting take on where the U.S. economy might be headed, be my guest and read the rest.
David Pogue proposes to his girlfriend by creating a fake movie trailer about them and then getting a theater to play it before a real movie. Beautiful and totally awesome.
If you’re wondering what a excellent blueprint for a modern media company looks like, look no further than Buzzfeed CEO Jonah Peretti’s latest email to his employees. In it, Peretti explains a lot of his company’s virtues, the most important being a relentless focus on always providing what’s best for the user. Vox Media (operators of The Verge) is the only other company I can think of which approaches this level of reform and execution.
I love this so much: a cross-referenceable database of cover songs, searchable by song or artist. Slowed down, acoustic covers — no matter the song — are so enjoyable to me that I wish it was a requirement to play one at every show. If you like them as much as I do, make sure to check out M. Ward’s Let’s Dance or Sun Kil Moon’s entire album of Modest Mouse covers.
Challenges of Getting to Mars: Curiosity’s Seven Minutes of Terror
The precision and innovation that is required for space exploration just blows my mind. I did not realize that Curiosity will have to basically land on Mars completely unaided by man, but it’s so much more complicated than that.