A Berkshire Hathaway Investor Analyzes Warren Buffett's Annual Letter

Bill Smead, CEO of Smead Capital Management, which invests in Berkshire Hathaway (BRK.A) - Get Report , focuses on the "subtle" comments from Warren Buffett.

Buffett also disclused a 3.3% stake in Apple (AAPL) - Get Report .

Buffett released his annual shareholder letter over the weekend.