Buffett Shareholder Letter

Berkshire Hathaway is well known in our industry as the owner of insurance standouts National Indemnity, General Reinsurance, GEICO and USLI (our favorite). Berkshire's 1Q 2009 earnings were down, but the Chairman was cautiously optimistic about Berkshire's insurance opportunities (see here & here). After Berkshire's worst year ever, Warren Buffett, well known investor and Chairman of Berkshire Hathaway, published his highly anticipated annual shareholder letter (see here), and it is worth taking a closer look at a number of interesting...