Tea leaves from a master

As usual the Berkshire Hathaway annual report's chairman's letter is reviewed and analyzed by many for its humor and its market insights. For anyone, neophyte or expert, it's a well written insight into the capital markets and whether you have interest or not, it may be a good thing to read, if not for you then for your son in Alabama, your niece in Paris, your nephew in Kentucky, your daughter in Massachusetts, your son in Richmond, your daughter in New Mexico, your son in Cary, your international leaning daughter in D.C., your son in Louisville, or those other young adults out in the Northwest or in Atlanta or wherever to read. Of course having an interest in this stuff would be helpful and that is not a necessary requirement for a full and happy life, but the real point here is that, if they choose, anyone can learn from reading Warren Buffett's CEO letter that is accessible at BerkshireHathaway.com.

Many in the press are giving the big coverage.

Covered here is only this comment related to GEICO in the early part of the letter:
"An old Wall Street joke gets closer to our experience:
Customer: Thanks for putting me into XYZ stock at 5. I hear it's up to 18.
Broker: Yes, and that's just the beginning. The company is doing so well now that it's an even better buy now than it was when you made your purchase.
Customer: Damn, I knew I should have waited."

So is that, coming so early in the comments, Buffett's overall thesis for the year, and if so what does it mean.