Safe-looking bonds can be risky, Buffett warns in annual shareholders letter

New York

SOMETIMES the best lessons are worth repeating. Billionaire investor Warren Buffett used his widely read annual letter to Berkshire Hathaway Inc shareholders on Saturday to again call out the wasteful fees that many money managers charge.

He highlighted the risk of bonds and emphasised the importance of sticking with a simple investment strategy. "Performance comes, performance goes," he wrote. "Fees never falter."