Key Takeaways:
Buffett also predicts the economy will “be in shambles throughout 2009 – and for that matter, probably well beyond – but that conclusion does not tell us whether the stock market will rise or fall.”
“our country has faced far worse travails in the past” but always “we’ve overcome them.”
“I made at least one major mistake of commission and several lesser ones that also hurt… Furthermore, I made some errors of omission, sucking my thumb when new facts came in that should have caused me to re-examine my thinking and promptly take action.”

Commentary from Bruce Greenwald (Columbia Business School professor) Mario Gabelli (Gamco Investors), and Carlos Mendez (ICP Capital ):