(Image Source: Wikimedia Commons ) BY CANDICE AVILES It’s a time when we all get a glimpse into the thoughts of one of the most successful investors. On Friday, Warren Buffett released his annual letter to shareholders where he expressed his disappointments and successes. The letter starts off with two disappointments, if you will. Buffett wrote, “in 2012, Berkshire achieved a total gain for its shareholders of $24.1 billion. … The per-share book value of both our Class A and class B stock increased by 14.4%” But he goes on to call that performance “subpar.”  [Via: Berkshire Hathaway ] “His second disappointment in 2012 was the company’s lack of a major acquisition. Buffett writes quote ‘I pursued a couple of elephants but came up empty handed,’ end quote.”  [Via: KETV ] Buffett actually called the lack of an acquisition his biggest regret in 2012.  But he says they’re already better off in 2013 due to the Heinz acquisition. Buffett also took a good page to criticize CEOs who blame “uncertainty” when it comes to investing in new projects. [Via: WikiMedia Commons ] The Atlantic quotes Buffett saying, “Of course, the immediate future is uncertain: America has faced the unknown since 1776. … If you are a CEO who has some large, profitable project you are shelving because of short-term worries, call Berkshire. Let us unburden you.” [Via: The Atlantic ] USA Today focused on a few other highlights from the letter including: the insurance business generating $73 billion of free money to invest, future leadership with investment managers Todd Combs and Ted Weschler, the success of current public investments, and his defense in purchasing 28 daily newspapers for $344 million. The letter didn’t disappoint when it came to business analysis however The New York Times points out, it did lack one nugget of information: who will take Buffett’s place when the time comes? “Last year, he acknowledged that he had chosen a successor, but he did not name the candidate.  He has said that upon his death, Berkshire will split his job in three.”  His son, Howard Buffett, would fill one of those three spots. Buffett ends the 24 page letter by mentioning the company’s annual meeting which is May 4th. He also thanks all his employees saying, “No CEO has it better; I truly do feel like tap dancing to work every day.”