"Warren Buffett's Investment Insights and Berkshire Hathaway's Future"

In his annual shareholder letter, Warren Buffett criticizes the use of net income as a metric for evaluating businesses, calling it "worse than useless." He advises investors to focus on operating income instead, as it provides a clearer view of a company's daily operations. Buffett emphasizes the importance of understanding a company's financial statements over time and warns against relying too heavily on metrics like net income and EBITDA.