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.
Very cool interactive infographic showing you what percentage of homes in your area are underwater (mortgage-wise, not wetness-wise).
A well reasoned, extremely pessimistic outlook on where Facebook is going and how much of the ad-driven web it will take down with it (hint: all). Lots of great quotes in here, and lots of warning signs to heed. Part of me thinks the end of low rent display advertising on the web might be a good thing, however.