Over the weekend, Warren Buffett posted his annual letter to the shareholders of Berkshire Hathaway. You can read it here (PDF). The 20-page letter is, as always, partly a recap of the Buffett philosophy: only buy businesses you understand, keep plenty of cash on hand, run companies for long-term return and not short-term stock-price gain. [...]
A few days ago on Curious Capitalist, I asked whether China was headed for trouble due to the potential damage done to its banking system by the government’s giant stimulus program. One of our readers, identified as tanboontee, was kind enough to write a very interesting comment. Here’s an excerpt: Excessive debts in the west [...]
