I'll have comments on Mr. Buffett's letter throughout the day. In the meantime here are some examples of human nature.
The Delphic Oracle spoke in riddles which had to be interpreted by the priests of the temple. The act of interpretation injected as much of the priest as of the Oracle. This reflection aspect has been used by fortune tellers since time immemorial. As the headline says, Ya see what ya wanna see*.
Here are some headlines regarding Berkshire:
Times of IndiaDo you think these headline writers might be feeling some angst?
Warren Buffett hints at Indian successor
Crude's bearish run won't last, Buffett says
Warren Buffett's Letter Generates "Worst" Headlines
Associated Press Berkshire has worst year, Buffett still optimistic*From a post last November:
Financial Times (UK) Worst year for Buffett’s Berkshire
Fortune Buffett's worst year
Fox Business Buffett's Berkshire Posts Worst Annual Results Ever
"The Rock Man said, "Say, babe, there ain't nothing pointless about this gig. The thing is you see what you want to see and you hear what you want to hear. You dig? Did you ever see Paris?"
"Did you ever see New Delhi?"
"No.""Well, that's it. You see what you want to see and you hear what you want to hear." And with that the Rock Man fell soundly asleep...
-from Harry Nilsson's The Point!