Warren Buffett Annual Letter Takeaway: Berkshire Is Cheap, Underappreciated

Saturday, Feb. 27, brought with it the latest annual letter from Warren Buffett, whose wisdom investors have been following for the past 56 years. Over that time, his conglomerate Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B), has compounded wealth at a stunning 20% rate, versus a 10.2% rate for the S&P 500. While Buffett didn't directly address Berkshire's relative underperformance over the past decade, he did acknowledge that Berkshire may not be appropriate for every type of investor.