

Berkshire Hathaway 2007 Annual Report (PDF) - iseff
http://www.berkshirehathaway.com/letters/2007ltr.pdf

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henning
These reports are written so that someone with almost no knowledge of
investing can comprehend them, which is rare in a corporate America that is
knee-deep in bullshit.

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jbrun
Extremely insightful, i like the moat quote - can definitely be applied to
some online companies (amazon, google, facebook...).

Also loved this part:

A footnote: We paid the IRS tax of $1.2 billion on our PetroChina gain. This
sum paid all costs of the U.S. government – defense, social security, you name
it – for about four hours.

