I’ve learned a great deal from Warren Buffett over the years. When he finally gave in and started using a corporate jet to get around he named it The Indefensible. In June 1996 he issued an owners handbook the purpose of which was to explain the broad economic principles of Bershire’s operations. Every year I look forward to reading his annual shareholders letter. This years letter did not disappoint. All of the above speaks volumes about one of the greatest investors of the 20th century and is recommended reading.