Warren Buffett on Berkshire’s ‘Subpar’ Year, Big Game Hunting, and Why He Loves Newspapers | TIME.com: "Warren Buffett, America’s most famous investor, holds himself to a high standard. That’s why he described 2012, a year in which his conglomerate Berkshire Hathaway achieved a total gain for its shareholders of $24.1 billion, as “subpar.” As Buffett pointed out, for the ninth time in 48 years, Berkshire’s book value gain (14.4%) was less than the S&P’s gain (16%). This mea culpa of sorts kicks off Buffett’s annual letter, which was released on Friday. As usual, the document is required reading for anyone interested in investing, and features the Oracle of Omaha’s wry, homespun style."
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