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I'd play with it if I were you! You can anonymously visit chatgpt.com which is my go-to, but others have good luck with Claude, Perpexity, Gemini, among others.
For example, I did exactly that and prompted, "What is the tone and greatest concern in the Berkshire Hathaway annual letter in 1983?"
ChatGPT's response was:
"In Warren Buffett's 1983 Berkshire Hathaway annual letter, the tone is generally optimistic, but it also maintains Buffett's characteristic pragmatism and cautiousness. He focuses on long-term value creation, emphasizing the importance of maintaining a strong financial position and investing in businesses with durable competitive advantages. The letter has a somewhat educational tone, as Buffett takes the opportunity to explain his investment philosophy to shareholders.
The greatest concern expressed in the 1983 letter revolves around **inflation and the impact it can have on capital allocation**. Buffett warns about the danger of inflation eroding the purchasing power of cash and suggests that it is critical for companies to find ways to earn a return on capital that exceeds the rate of inflation. He highlights the importance of prudent capital management and stresses the need for avoiding investments that might look good in the short-term but are not viable over the long run.
Buffett's concern about inflation underscores his emphasis on the preservation of capital, and his view that, in times of inflation, it is essential to be invested in businesses with strong fundamentals and the ability to raise prices. The tone is optimistic, but also acknowledges the realities and challenges of the economic environment."
Since that could describe almost any annual letter, I asked a follow up on specifics, "Specifically, did he touch on changes to the portfolio in that year?"
To which ChatGPT responded
"Yes, in his 1983 letter, Warren Buffett specifically touched on changes to the portfolio that year. One of the key changes was **the acquisition of several businesses**, as well as the **sale of some investments**.
Buffett pointed to Berkshire Hathaway's evolving strategy of **acquiring entire companies** rather than just stocks. He emphasized the growing importance of this strategy in Berkshire's long-term success, noting that owning entire businesses provided more control and a better chance to create value over time compared to just owning shares in publicly traded companies.
Among the major acquisitions in 1983 was **Scott Fetzer**, a diversified industrial company, which Buffett considered an important addition. He also discussed the **purchase of a large stake in the Washington Post**, which he believed was an excellent long-term investment, given the company's strong market position in the media industry.
At the same time, Buffett highlighted **sales of certain stocks** where the returns did not meet his expectations or where the opportunities for capital appreciation had become limited. For example, he noted that Berkshire had sold its investment in **American Express** (a position that had been reduced over time due to concerns about its competitive position and future growth potential).
Overall, the changes to the portfolio in 1983 reflected Buffett's focus on companies with strong earnings power and the ability to maintain competitive advantages over the long term. The portfolio shift also demonstrated his growing preference for **acquiring entire businesses** rather than just holding stocks, which would become a hallmark of Berkshire's strategy in the years that followed."
So it has been trained on that material, and based on my earlier post, on Poor Charlie's, too, based on the ability to reproduce the tone. You'd probably benefit from the more sophisticated model around the trained material, and even if you don't want it, the ability to extrapolate from the extracted features onto other domains.
