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Warren Buffett 2011 Shareholder Letter

Warren Buffett released Berkshire Hathaway’s 2011 shareholder letter. Warren Buffett increased Berkshire’s book value by 4.6% in 2011 and managed to outperform the S&P 500 index by 2.5 percentage points. This is the first time in the past three years Warren Buffett managed to do this. In 2009, Warren Buffett underperformed the S&P 500 index by 6.7 percentage points. In 2010, Buffett fell 2.1 percentage points short. We can summarize Warren Buffett’s investor letter but you will be better off by reading the whole thing. Here is Warren Buffett’s 2011 shareholder letter:

Warren Buffett

Warren Buffett 2011 Shareholder Letter