Berkshire Hathaway’s letter to shareholders is something I look forward to each year. Unfortunately, it was quite a disappointment for me this year as I expected much more than ‘Never bet against America.’ The optimism surrounding the much-vaunted American Dream is partly rooted in how capitalism in America gave birth to successful everyday entrepreneurs — think the Claytons, Haslams, and Blumkins who prospered building homes, operating truck stops, and selling furniture to fill out homes. As much as I appreciate his hopes for America, I wanted to hear more of Buffett’s thoughts on the pandemic, how it had impacted businesses, and perhaps the effect of stimulus on the economy. It would’ve made this article it a whole lot more interesting, but nonetheless there are still nuggets of wisdom from the Oracle of Omaha: 1. Focus on earnings that count. Since the implementation of the new GAAP rule to include capital...