Buffett's Letter to Shareholders

Last year, while the S&P 500 had a negative 18% return, including dividends, Berkshire Hathaway stock was up 4%. Going back to 1965, Buffett's given you a compounded annual gain of 19.8%. He says he and his partner Charlie Munger are not stock pickers. We are business pickers, end quote. I don't agree with them on everything,. But if you're managing your own portfolio, wow, I mean, that is fabulous attitude.