Warren Buffett's Annual Letter to Shareholder

The famous Warren's Buffett annual letter to shareholder was written back in 1977. The first letter laid out a few concepts that then are picked up again and again. He also said, we prefer to invest one lesson that he learned is the importance of being in businesses where tailwinds prevail rather than headwinds. And last year, C is candy and had the time pre tax operating earnings of about 10 million dollars.