Dollars and Jens
Friday, February 29, 2008
Berkshire Hathaway
The Berkshire Hathaway annual report and accompanying letter to the shareholders from Warren Buffett are out.
Some major financial institutions have, however, experienced staggering problems because they engaged in the “weakened lending practices” I described in last year’s letter. John Stumpf, CEO of Wells Fargo, aptly dissected the recent behavior of many lenders: “It is interesting that the industry has invented new ways to lose money when the old ways seemed to work just fine.”
I'm still on the first page.

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