Warren Buffet’s Letter to the Shareholders

images The wise and wonderful Warren Buffet, the Oracle of Omaha as he is commonly known, writes an annual letter to the shareholders of Berkshire Hathaway. Here are a few excerpts from Buffet’s 2015 letter, courtesy of my friend Rajan Parrikar. Buffet is incomparable. Read and share with those whom you care about.
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The Man Lee Kuan Yew Admires the Most

The politician I admire the most is Lee Kuan Yew. Why? Because he is intelligent, learned, wise and gets things done. He is authoritarian — but without authority, you cannot get things done. All great leaders are authoritarian since they have to lead. The problem is not authority; the problem is authoritarian leaders who are stupid. Countries end up in the bottom of heap because of stupid authoritarian leaders. Two notable authoritarian leaders in India’s history are Nehru and MK Gandhi. How wise they were is clear from the evidence: India is a desperately poor country. China too had its fair share of stupid authoritarian leaders. And like India, it was awfully poor. But its fortunes changed. How? Because of one man.
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