Buffett letter out:
http://www.berkshirehathaway.com/letters/letters.html
He's still bearish on the dollar, but converting some of his foreign currency position into foreign equities
Interesting question demonstrating the power of compounding:
"Between December 31, 1899 and December 31, 1999, to give a really long-term example, the Dow rose from 66 to 11,497. (Guess what annual growth rate is required to produce this result; the surprising
answer is at the end of this section.)"
The answer is 5.8 percent - suprisingly low - of course 100 years is a lot of time.
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