Investing principles from the master:

• Ignore sound bites that rattle markets.
• Treat market pessimism as your friend.
• Do the little things right.
• Protect your capital when the facts turn upside down.
• Rely on CEOs who nurture healthy corporate cultures.
• Remember that large, unfathomable derivatives are still financial weapons of mass destruction.
• Seek simplicity and candor.

Millions of people download Warren Buffett's shareholder letters searching for tips from the world's greatest investor. Many miss the best part of his letter: his principles. It is their loss. Following these principles, Buffett has turned Berkshire Hathaway, a struggling textile manufacturer, into one of the most respected companies in the world. Early investors have become billionaires. This essential guide to Buffett's shareholder letters highlights what the pundits aren't telling you and what you can learn about building long-term wealth.