Finally, I skimmed Warren Buffett's annual letter to Berkshire Hathaway shareholders. The letter is available here. The letter was released to the public this morning. Here is the first media article about it. I highly suggest that you read the full letter yourself.
My biggest take aways are that...
"Clinging to cash equivalents or long-term government bonds at present yields is almost certainly a terrible policy if continued for long."
"Improved “transparency” – a favorite remedy of politicians, commentators and financial regulators foraverting future train wrecks – won’t cure the problems that derivatives pose."
I am confident in Warren Buffett...not so confident with our current government.