You may remember the wildly upbeat message of last year’s report: nothing much was in the works but our experience had been that something big popped up occasionally. This carefully- crafted corporate strategy paid…
You may remember the wildly upbeat message of last year’s report: nothing much was in the works but our experience had been that something big popped up occasionally. This carefully- crafted corporate strategy paid…
沃伦·巴菲特《伯克希尔·哈撒韦 2023 年致股东信》· 2023 Chairman's Letter · 投资
************ Writers find it useful to picture the reader they seek, and often they are hoping to attract a mass audience. At Berkshire, we have a more limited target: investors who trust Berkshire with their savings without any expectation of resale (resembling in attitude people who save in order to buy a farm or rental property rather than people who prefer using their excess funds to purchase lottery tickets or “hot” stocks).
One of the counsels of caution is to be very certain that we do not mistake a reactionary turn for a return of common sense. We have passed through a period of fireworks of every description, and the making of a great many idealistic maps of progress. We did not get anywhere. It was a convention, not a march. Lovely things were said, but when we got home we found the furnace out. Reactionaries have frequently taken advantage of the recoil from such a period, and they have promised "the good old times"--which usually means the bad old abuses--and because they are perfectly void of vision they are sometimes regarded as "practical men." Their return to power is often hailed as the return of common sense.
You may remember the wildly upbeat message of last year’s report: nothing much was in the works but our experience had been that something big popped up occasionally. This carefully- crafted corporate strategy paid…
Our purpose is to construct and market an automobile specially designed for everyday wear and tear--business, professional, and family use; an automobile which will attain to a sufficient speed to satisfy the average person without acquiring any of those breakneck velocities which are so universally condemned; a machine which will be admired by man, woman, and child alike for its compactness, its simplicity, its safety, its all-around convenience, and--last but not least--its exceedingly reasonable price, which places it within the reach of many thousands who could not think of paying the comparatively fabulous prices asked for most machines.
You may remember the wildly upbeat message of last year’s report: nothing much was in the works but our experience had been that something big popped up occasionally. This carefully- crafted corporate strategy paid…