SA Editor Eli Hoffmann: Barron's takes a detailed look at recent moves of Berkshire Hathaway (BRK.A) master investor Warren Buffett. Key takeaways:

* While publicly tepid on the stock markets, Buffett bought a record $19 billion in equities in 2007, more than double the $9.2 billion he picked up in 2006. Berkshire's equity portfolio is now worth $75B, up from $61.5B in 2006 and $37B in 2004.

This is the second part to Todd Kenyon's article on Warren Buffett's Berkshire Hathaway, and his attempt at putting an intrinsic value on the behemoth company.

Right off the bat Buffett comments on the credit debacle:

Below is the first part of Todd Kenyon's notes on Warren Buffett's annual shareholder letter that was released last night.

"As always, Buffett reinforced many of his main tenants: good businesses have sustainable competitive advantages, generate attractive returns on capital, and are run by extraordinary managers, even if they don't have to be: