The topic of this week’s episode is Warren Buffett’s annual letter to Berkshire Hathaway shareholders. My guest is Jake Taylor, the Chief Executive Officer of Farnam Street Investments. Jake has been a previous guest on The Good Life as part of the Decision-Making Mastermind Group. Jake breaks down Warren Buffett's latest Letter to Berkshire Shareholders and helps us understand what we can learn. Jake is an incredibly knowledgeable investor, and he follows Berkshire carefully, so he's familiar with the company and he brings unique insight into interpreting Buffett's letter and his message to the investing community.  This show grew out my interest in Value Investing and in helping others to apply the principles of value investing to our lives. Buffett's annual letter is always full of wisdom and Jake helps us unpack this year's edition so we can get the most out of it. What You'll LearnHow to analyze Berkshire’s earningsBuffett’s two primary goals for his leadership of Berkshire in 2020 and why he didn’t meet either of themWhat share repurchases at Berkshire and Apple in 2020 mean for Berkshire shareholdersHow to think about the Retained Earnings at the companies Berkshire partially ownsWhy Buffett is writing down his purchase of Precision Cast PartsThe structural advantages of BerkshireThe “Four Jewels” of BerkshireWhy you should never bet against AmericaThe surprise announcement about this year’s annual meeting Books & ResourcesBerkshire Hathaway Letter to Shareholders 2020The Rebel Allocator by Jake TaylorEpisode #4 – Jake Taylor Discusses his novel, The Rebel Allocator Connect with Jake TaylorTwitter: @farnamjake1Farnam Street Investments Connect with Sean MurrayEmail: [email protected]: @seanpmurray111LinkedIn: https://www.linkedin.com/in/seanpmurray/Website: www.seanpmurray.netNewsletter: https://www.realtimeperformance.com/newsletter/