UPDATE: part III, blog reactions, is here.
I'll be commenting on the letter on Monday (I know, "Alert the media"*), in the meantime, here's a roundup of initial stories from the major news outlets. See also our post from yesterday "Warren Buffett's Letter to the Shareholders of Berkshire Hathaway 2009 (BRK.A)", there's a treat for those who follow the links.
We'll be back later with blog reaction.
From the Wall Street Journal, an in-depth look:
Berkshire Hathaway Reports Worst Year Ever
Insurance, Stock Holdings Are Hit; Buffett Warns of Bubble in Treasurys
From the Journal's Real Time Economics blog:
Warren Buffett on the Economy
Berkshire Results May Be Worst Ever, by Buffett Gauge
From Mr. Buffett's own Washington Post, Economy Watch blog:
Buffett: 'I Did Some Dumb Things' in 2008
(speaking of dumb, the WaPo gated a half dozen Warren stories)
From the New York Times:
In Letter, Buffett Is Frank but Optimistic
From their The Lede blog:
As Warren Buffett Goes, So Goes …
and from their DealBook blog:
Ask Warren Buffett a Question
From the Omaha World-Herald, first a home grown story, then their AP coverage (which are the same headlines as the NYT's):
Good calls, bad calls: Buffett's past predictions
Buffett says derivative values can be misleading
Buffett says economy to remain in shambles in 2009
*That's a quote from the 1981's double Oscar winner "Arthur"
The set-up, Arthur (Dudley Moore, nominated Best Actor) and his butler Hobson (Sir John Gielgud, winner Best Supporting Actor):