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Templates · Operating cadence & reporting

Annual shareholder letter template

Origin: Warren Buffett's Berkshire Hathaway letters; Jeff Bezos's 1997 Amazon letter.

Start from this templateFree, no account needed. The blank is written with guidance in each section, ready to fill in.

Sections

  1. Scorecard
  2. What went well and badly
  3. Capital allocation
  4. Long-term principles
  5. Outlook

How a tough reader scores it

When you score a draft against this format, the Critic evaluates this shareholder letter. The weights add up to 100; the fixes for the weakest criteria arrive as cards in the editor.

CriterionWeight
Plain-English clarity for a non-expert owner20
Candor about mistakes, with the author owning them20
Capital allocation reasoning is explicit20
Consistent long-term metric and principles15
Teaches the reader something10
Free of promotional language15

How it works in SecondPen.ai

Open the template and the editor writes the blank once, with a line of guidance under each heading that you delete as you fill it in. Write your abstract and the editor names the format it reads like. Ask for a document with a slash command and it offers to start from the matching format. When the draft is ready, the Critic scores it against the criteria above, the way this format's toughest reader would, and the three highest-leverage fixes become Editor cards.

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