The Buffett Letter

This is probably our third or fourth. year of doing this going over the letter. So what are your general thoughts before we jump into it? Well, I thought it was very short. If they didn't know about Berkshire and this was the letter that they were looking at to decide on making the investment. He did talk a little bit about some other things like saying how the media doesn't cover the stock correctly and to ignore operating earnings. And he also talked about float and talked about making sure that people go and read a description of float.