Warren Buffett’s annual shareholder letter is an eagerly anticipated treat for the financial community, and as usual, the 81-year-old Oracle of Omaha did not disappoint. In his characteristically good-humored, plainspoken style, Buffett surveyed the 2011 performance of Berkshire Hathaway, the investing conglomerate he’s run for over 40 years, and offered some broader thoughts on the U.S. economy.

http://business.time.com/2012/02/27/warren-buffett-on-succession-stock-buybacks-and-avoiding-gold/