updated 2/4/2005 11:15:46 AM ET 2005-02-04T16:15:46

Billionaire investor Warren Buffett, long lauded for his stock-picking acumen, is being honored for his writing skills.

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The National Commission on Writing for America’s Families, Schools, and Colleges is honoring Buffett’s folksy and easy-to-understand annual report on Berkshire Hathaway Inc. as a major contribution to the art and craft of writing.

“No annual report has had a greater impact on American business,” said Bob Kerrey, the commission’s chairman and a former Democratic senator from Nebraska.

“With clarity, insight, and wit, each year Warren Buffett advises countless leaders of business and industry, scholars of commerce, public officials, and investors from across the spectrum,” said Kerrey, who is president of New School University in New York.

Buffett says he writes his annual report as though he were explaining Berkshire to a sister who has been away for a long time. Often the reports are sprinkled with humor, such as when Buffett blamed himself for his company’s poor performance in 1999.

“My performance reminds me of a quarterback whose report card showed four Fs and a D but who nonetheless had an understanding coach,” Buffett wrote. “’Son,’ he drawled, ’I think you’re spending too much time on that one subject.”’

The commission issued its second report to Congress in September titled, “Writing: A Ticket to Work...Or a Ticket Out, a Survey of Business Leaders.”

Buffett was to receive his award Friday in Omaha. Honored last year for their contributions to the craft of writing were Sens. Robert Byrd, D-W.V. and Thad Cochran, R-Miss.

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