Berkshire Hathaway’s ( BRK.A BRK.B): Annual shareholder letter

Mr. Buffet is optimistic on 2013.
It is in a good agreement with  ** I Know First system ** positive stance on the US economy.
Perhaps the most amazing fact is that the S&P 500 in gold stood at 1.1 ounces on October 1928, giving us a price higher than the ratio today. There has been a long stream of dividends since then, but the real price of the equity market is lower today than the level of 84 years ago!
Warren Buffet is hunting for elephants and a bear.
The chairman of Berkshire Hathaway’s  annual letter to shareholders Friday acknowledged sub-par performance in 2012, but proved as readable and quotable as any of his previous  epistles on investing.
You can look through the whole thing here, including as easily digested discussions of accounting as you’re ever likely to see.
But for those with limited time, here’s a look just at 1 of the pithier comments.
Mr. Buffet on the search for new investment opportunities for Berkshire’s huge cash reserves after the acquisition of half of Heinz  HNZ  last month:
 “Charlie and I have again donned our safari outfits and resumed our search for elephants".
Regarding Apple:

Berkshire Hathaway (BRK.B) has dropped 50% on multiple occasions says Warren Buffett, responding on CNBC to a question about Apple (AAPL). "You can't run a business to make the stock price go up every day," he says, though allowing Apple may have too much cash.