I thought this investor letter was a particularly good read. I quite enjoyed this quote:
"Basically I am a bond guy. I like fat coupons. And I like return of principal. But I take my
bonds where I can find them. And these days the place to find fat coupons and return of principal
is among blue chip equities."
[url=http://www.scribd.com/doc/117055498/WBA-Arithmetic-of-Equities-Final]WBA Arithmetic of Equities Final[/url]