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Warren Buffett's 2010 Shareholder Letter: What to Expect

Harvard Business Review

His genius lies in making each letter sound different so he can educate readers about his wealth-creating "secrets.". Establish "an unbending standard of performance" : Since 1965, Buffett has annually compared Berkshire's compounded growth in book value per share to the growth in the S&P 500 (plus dividends).

Letter 14