Introduction

Berkshire Hathaway CEO Warren Buffett’s much-anticipated annual letter to investors is out. As is customary for the maverick investor, it’s peppered with headline-grabbing statements about Buffett’s disdain for investment advisors and unearned wealth. 

But setting the flashy statements aside, Buffett’s latest letter contains some very valuable information. It’s worth paying attention to, even if you are at the very beginning of your investment journey because it concerns the future of one of the biggest, traditionally most profitable segments of the investment market. 

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