Warren Buffett's Shareholder Letter, Annotated

Your user's guide to the great investor's views on the economy, insurance, M&A, and more.

Warren Buffett has just published his annual letter to shareholders. You may not own Berkshire Hathaway stock, at $200,000 a share, but you can still benefit from Buffett's take on energy, metals, mergers, and the rest. 

Follow along as we annotate this year's letter below.

With contributions from Katherine Chiglinsky and Noah Buhayar