🤔 What did we learn from Berkshire Hathaway's annual shareholder letter? 💰#shorts

Warren Buffett was out with his annual shareholder letter this past week and clearly the street investors. Anyone who's interested in the market has been reading every word. Let's talk about some of the common themes. First common theme I want to talk about is it's all about long term investing. Warren Buffett writing, the world is full of foolish gamblers and they will not do as well as the patient investor. Another big takeaway, he's very supportive of buybacks. He wrote, quote, when you are told that all of our purchases are harmful to shareholders or to the country or particularly beneficial to CEOs, you are listening to either an economic deliterate or a silver-tongued demagogue.

The Biden administration recently enacted that 1% tax on buybacks. Talk about raising that. So Buffett making his stance known ahead of that. And also he slammed Wall Street's obsession with earnings beef. He wrote, quote, bold imaginative accounting as a CEO once described his deception to me has become one of the shames of capitalism. So before we start obsessing over the beat or the miss when it comes to earnings, maybe we need to dig a little bit further into these earnings reports.

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