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The week came the year after college, and it rained and fogged the whole way through. With everything he had packed already read, he took down a book by John Train that happened to be in the house. Before college he had been an active, eclectic reader, and investing was not among his interests.
The first chapter was about Warren Buffett, and it was intellectually engaging right away. It was a lightbulb moment, a cliché one: that was what he wanted to do. As soon as he got back, he sent away for the collection of Buffett's annual letters, old snail mail style with a stamp, since they could be ordered from Omaha by mail.
He read the letters immediately. From there he got totally into trying to understand it and figure it out, and the interest turned into something quite fun.
How did Buffett's letters reach readers before the web?
Warren Buffett has written letters to investors since the late 1950s, first for his investment partnerships and then for Berkshire Hathaway shareholders. Before the internet, copies could be requested from the company in Omaha by mail. Berkshire now posts the letters on its website.
Why did Buffett's writing draw so many readers?
Buffett writes in plain, conversational English and reaches for analogies from everyday life. His letters include jokes and frank admissions of his own mistakes. Interest in them is large enough that Berkshire's annual meeting in Omaha has drawn tens of thousands of shareholders.
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