Buffett's letter can be accessed by CLICKING HERE.
In his annual letter to Berkshire Hathaway shareholders, Warren Buffett describes himself as an elephant hunter. While expressing disappointment that he was unable to make a major acquisition in 2012, Buffett said, “I pursued a couple of elephants, but came up empty-handed.”
He said his luck changed in February when Berkshire Hathaway agreed to buy half of a holding company that will own all of H.J. Heinz.
He reported that his company’s “big four investments” all had a good year. Those companies are American Express, Coca-Cola, IBM, and Wells Fargo.
As for continuing financial difficulties throughout the world, Buffet said, “American business will do fine over time. Periodic setbacks will occur, yes, but investors and managers are in a game that is heavily stacked in their favor.”
The annual shareholders meeting will be held Saturday, May 4 at CenturyLink Center Omaha. Buffett encouraged shareholders to attend, listen to some of the meeting, then leave and buy a lot of things at the Berkshire Hathaway stores that are set up in the convention side of the complex.