I normally would never have a reason to read a letter to shareholders from billionaire Warren Buffett. I just happened to hear about his writing style on NPR’s Marketplace Money. The hosts said he was funny. Funny!
And they were right.
This is from his 2006 letter (some of which is covered by copyright) — a report of earnings:
All that said, a confession about our 2006 gain is in order. Our most important business, insurance, benefited from a large dose of luck: Mother Nature, bless her heart, went on vacation. After hammering us with hurricanes in 2004 and 2005 –- storms that caused us to lose a bundle on super-cat insurance –- she just vanished. Last year, the red ink from this activity turned black – very black.
The rest of the letter is just as good, including a great paragraph about why GEICO’s success is the reason parents should change their kids’ names to Tony.
Bravo, Mr. Buffett.