Warren Buffet's Annual Letter

I'm admittedly a cautious fan of Mr. Buffet, and enjoy hearing his insights. His annual letter can be found on his website here, and numerous other folks have highlighted important parts of it, here, here, and here (some of it is even real estate related). He has numerous prescient comments ranging from derivatives, to underwriting mortgage loans, to the pitfalls of investing in the latest bubble - government debt.

So, I don't have much more to add, and instead will take the low road and just highlight the lines that made me think, "Really!?!" (in your best Seth Meyers voice)

As we view GEICO’s current opportunities, Tony and I feel like two hungry mosquitoes in a nudist camp. Juicy targets are everywhere...

Participants seeking to dodge troubles face the same problem as someone seeking to avoid venereal disease: It’s not just whom you sleep with, but also whom they are sleeping with...

And perhaps, my favorite is the link to the Clayton IHouse (which I think is a great idea, and hope it takes off more than all the competitors who are lagging in this markety), which opens with background music that is a cross between light-techno, heavy-sax-laden elevator music, and soft-porn-background-music.