Thursday, November 15, 2007

Clarity and plain language in annual reports

Under Warren Buffett, Berkshire Hathaway has been a model of transparency and honesty. He famously noted that he writes his annual reports as if he were writing a letter to his Aunt Alice or his sister Doris, aiming for clarity, simplicity and an absence of jargon. (Review the latest annual report for Berkshire Hathaway.)