Ah, Warren

I’m reading the most recent Berkshire Hathaway letter to shareholders.

For anybody, anyopdy at all, even those without financial savvy, READ THIS. It’s 22 pages of sheer common sense from one of the most rational, down-to-earth, and richest men in the world.

Just read it.  Once you’ve read it, trawl their web site and read the last letters as well. Everything is presented in terms an idiot can understand. Read this and you pick up a total distrust of financial spivs using terms like “rebalancing your portfolio”, and “leveraging your assets.”

Want to know about housing finance, utilities, and what the heck those “monoline insurers” are about?

You can’t go past this:

The cause of their problems was captured long ago by Mae West: “I was Snow White, but I drifted.”

And this:

The present housing debacle should teach home buyers, lenders, brokers and government some simple lessons that will ensure stability in the future. Home purchases should involve an honest-to-God down payment of at least 10% and monthly payments that can be comfortably handled by the borrower’s income. That income should be carefully verified.

And this:

Our advice: Beware of geeks bearing formulas.

Just read it.

One Comment

Having a little stroll through some recents posts and found the one about strange names. Just HAD to laugh at Savvy Loy. The inventiveness of Aussie kids never ceases to amaze me.

Comment by river | March 3rd, 2009 7:28 pm | Permalink

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