1. We're Hunting for an 'Elephant-Sized Acquisition'

    We're Hunting for an 'Elephant-Sized Acquisition'
    • Warren Buffett, the chairman and CEO of Berkshire Hathaway, released his annual letter to shareholders on Saturday.
    • Buffett wrote that he and his vice chairman, Charlie Munger, still hoped to make a large acquisition.
    • Buffett said in last year's letter that he wanted to make a big deal, but companies' valuations were too expensive...
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    1. The immediate prospects for that, however, are not good: Prices are sky-high for businesses possessing decent long-term prospects.
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