OMAHA, Neb. ( TheStreet) -- Investors have had a week to digest the annual report from Berkshire Hathaway ( BRK.B).

Investors liked what they saw in the Berkshire Hathaway 2009 complete performance portrait. Berkshire Hathaway's B shares began the week trading at $80, and by the close on Friday, had reached $83.36.

Readers of the famed annual letter from Warren Buffett also were given room to ruminate on the latest batch of quotable quotes from the Oracle of Omaha.

Buffett's epistolary elegance -- ranging from digressions into Prussian mathematics to groan-inducing puns to allusions to famous lines in literary history -- is always a noted annual event, alongside the usual gains made by Berkshire Hathaway shares.

Of course, there was some pretty serious talk from Warren Buffett and his right hand man Charlie Munger in the week leading up to the annual report, and in the annual letter itself.

Munger wrote an article for lambasting what he views as a broken idea of America, inventing a mythical land called Basicland which fell into an abyss of complex smoke-and-mirror finance. In the process, Basicland transformed itself from the capitalist pride of the world into a frightening Sorrowland (Tim Burton has optioned the rights to the film).

Buffett followed up on Munger's harsh words about the mythical stand-in for America by lashing out at Wall Street in the Berkshire Hathaway annual letter. Buffett not only derided high investment banker salaries but literally questioned the ethics of the investment banking community (no surprise there for a man who does not use investment banking firms as advisors on his M&A deals).

In light of all this, we at TheStreet decided to take a lighter look at Buffett's words. After all, any CEO who mentions ping-pong in his annual report, and suggests that investors check out clips of him on Youtube being demolished by a 14-year old at the table tennis table, merits a merrier review of the annual report, too.

So we asked TheStreet readers to chime in on their favorite lines from Buffett's annual letter. After making some tough choices ourselves on which Buffett quotes to put on the humor short list, we asked readers: Which Warren Buffett quote do you think was the 2009 report's finest?

After digesting all the Berkshire Hathaway financials, TheStreet readers decided that digestive humor was tops among Buffett's homey stand-up comedy routine, too.

Maybe some Berkshire Hathaway investors are still feeling a tad queasy about the price paid for Burlington Northern.

Buffett's disdain for companies that use common stock to make acquisitions is well-known. Most recently, Buffett took Kraft ( KFT) management to school for planning to use common shares -- many Kraft shares are owned by Berkshire -- to buy Cadbury ( CBY).

Thus, in reiterating his reluctance to use common shares in any acquisition -- before explaining why it made sense in the acquisition of Burlington Northern to go ahead and use the shares -- Buffett wrote, "Charlie and I enjoy issuing Berkshire stock about as much as we relish prepping for a colonoscopy."

Approximately 27% of survey takers voted Buffett's gastrointestinal guffaw as 2009's best -- not surprising for a national audience that finds Jay Leno and Two and a Half Men funny.

Speaking of America's cultural lowest common denominator, the Buffett quip that earned second place in the poll, receiving votes from 23% of survey respondents, was about country music. It was part of a typical Buffet digression into the work on problem-solving pioneered by the Prussian mathematician Jacobi. However, Buffett tried to put Jacobi's work into a context that red state America can understand.

Writing on Jacobi's work on inversion, Buffett explained, "Sing a country song in reverse, and you will quickly recover your car, house and wife."

Some Buffett Book Club fans prefer it when the Oracle of Omaha keeps his humor short and to the point. Approximately 21% of survey takers thought that Buffett's annual letter sign off, inviting Berkshire Hathaway shareholders to the May annual meeting, was the top line of 2009. Buffett begged off his annual epistolary with this P.S. alluding to the acquisition of Burlington Northern: "Come by rail."

One thing we learned about Buffett's annual letter fans is that they may revere the man, but they like less when he references swear words, teen sex and high literature. Only 13% of survey respondents voted Buffett's invoking of Tennessee Williams' legendary faded southern belle Blanche Dubois as best line of 2009. Buffett wrote, "We will never become dependent on the kindness of strangers. Too-big-to-fail is not a fallback position at Berkshire."

Maybe investors are just tired of hearing Buffett lash out at the big financial firms while reaping big profits from the derivatives contracts he holds in Wall Street evildoers like Goldman Sachs ( GS).

Buffett fan were even less merry about a humorous turn on the housing crisis that led the Berkshire Hathaway chief to suggest that teenagers be encouraged to buy houses and live together as a way to chew through the oversupply in the housing sector. Buffett wrote, "Speed up household formations by, say, encouraging teenagers to cohabitate." Only 8% of survey takers found that subtly risqué line funny.

Buffett may have to hit church for a few consecutive Sundays based on the lack of cheer for this allusion to swear words in writing about a botched Berkshire Hathaway move into the credit card business.

Buffett explained the resistance that insurer GEICO had to Buffett's idea of trying to sell credit cards to their customers by saying: "They warned me that instead of getting the cream of GEICO's customers we would get the ---- well, let's call it the non-cream."

Buffett faithful were friggin' aghast! Only 7% of survey respondents voted Buffett's modified swear as the year's best.

What, can't you people take a joke?

-- Reported by Eric Rosenbaum in New York.


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