Warren Buffet's Letter to Shareholders

Sorry I haven't been posting. I've been particularly busy doing unfortunate but necessary administrative tasks for work. I think anyone interested in business including how great businesses are run, how great businesses look and how great businesses react should read this year's letter to the shareholders from Warren Buffett:
http://www.berkshirehathaway.com/letters/letters.html

While I don't think that there's that much new from previous years, I thought his focus on how he thinks of competitive advantage (or moats around the castle of superior returns as he calls them) to be inspired. With the continual barrage of faddish ideas - particularly as it relates to China, it's particularly refreshing to get a pretty humble perspective and see that there are certain business principles that are timeless.