Warren Buffett Calls This Metric "Worse Than Useless," but Everyone Uses It. Here's How to Make Yourself a Smarter Investor.
Investors look forward to Warren Buffett's annual shareholder letter, and in the 2023 version, released on Feb. 24, he didn't disappoint. It was chock-full of Buffett's typical down-to-earth, blunt, and solid investing advice mixed with his wit and humor.
He paid tribute to his decades-long investing partner, Charlie Munger, who passed away last year, and in a first, he addressed the letter as if he were writing to his sister Bertie.
She's a longtime Berkshire Hathaway (NYSE: BRK.A)(NYSE: BRK.B) shareholder whom Buffett described as understanding "many accounting terms, but ... not ready for a CPA exam." In doing so, he's addressing the vast majority of individual investors.
Source Fool.com