Getting Inside Buffett's Head

For as long as I have worked in financial services, the reading of Warren Buffett's annual letter has been something done with a coffee in one hand and a pen in the other. No doubt, this ritual is practiced by many: business school students, finance and economics professors trying to find inspiration for exam questions and investors of all kinds the world over. It has always amazed me that one person, year after year, could attract so many people's attention through his offerings of wisdom on investing and on life in general.

With every year's letter I learn new things -- either cool new ways to express investment concepts, or the reinforcing of ideas I didn't quite appreciate wholeheartedly. Like many others, when I've viewed Mr. Buffett's common stock investments I've tended to wonder such things as, "Should I purchase American Express (AXP), Coca-Cola (KO) and IBM (IBM) now even though I know the Oracle of Omaha got in at a cheaper price?" Surely if Warren Buffett proclaims that these high-profile names are near-indestructible businesses for as far into the future as the eye can see, than certainly I must take some money from savings and put it to work, no?...825 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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