Warren Buffett's highly anticipated annual letter to Berkshire Hathaway shareholders released on Saturday did not disappoint this year with a little something for all fans of the Oracle of Omaha, from professional value investors to the casual admirers of his wit and wisdom.
Most newsworthy in this year's edition, the 87-year old billionaire pointed out that Berkshire Hathaway now has a $116 billion war chest to spend on a deal, but that prices were too high for him to spend any of it in a big way last year.
Buffett went on to give a valuable investing lesson that involved quoting a Rudyard Kipling poem from the 1800s. There are plenty of quips in the letter, including a joke likening a CEO's penchant for dealmaking to the sex drive of teenagers.
Here are the highlights below: