Warren Buffett’s Annual Letter: Mistakes, Buybacks and Apple

Warren Buffett published his annual letter to shareholders over the weekend. The annual update, which has become one of the largest events in the calendar for value investors, provided Buffett’s views on one of the most turbulent and extraordinary years for the financial markets in recent memory. Q4 2020 hedge fund letters, conferences and more Berkshire Hathaway performed exceptionally well during 2020. Thanks to massive gains on its equity portfolio, the company reported earnings of $42.5 billion in 2020. Of this, $21.9 billion was operating earnings, $4.9 billion was realized capital gains, and $26.7 billion was the total value of…