In making acquisitions, we have a further advantage: As payment, we can offer sellers a stock backed by an extraordinary collection of outstanding businesses. An individual or a family wishing to dispose of a single…
In making acquisitions, we have a further advantage: As payment, we can offer sellers a stock backed by an extraordinary collection of outstanding businesses. An individual or a family wishing to dispose of a single…
沃伦·巴菲特《伯克希尔·哈撒韦 1977 年致股东信》· 1977 Chairman's Letter · 投资
We expect difficulty in matching our 1977 rate of return during the forthcoming year. Beginning equity capital is up 23% from a year ago, and we expect the trend of insurance underwriting profit margins to turn down well before the end of the year. Nevertheless, we expect a reasonably good year and our present estimate, subject to the usual caveats regarding the frailties of forecasts, is that operating earnings will improve somewhat on a per share basis during 1978.
I have the dynamo that I first had charge of at the Detroit Edison Company. When I started our Canadian plant I bought it from an office building to which it had been sold by the electric company, had it revamped a little, and for several years it gave excellent service in the Canadian plant. When we had to build a new power plant, owing to the increase in business, I had the old motor taken out to my museum--a room out at Dearborn that holds a great number of my mechanical treasures.
In making acquisitions, we have a further advantage: As payment, we can offer sellers a stock backed by an extraordinary collection of outstanding businesses. An individual or a family wishing to dispose of a single…
本杰明·富兰克林《本杰明·富兰克林自传》· The Autobiography of Benjamin Franklin · 领导
At Watts's printing-house I contracted an acquaintance with an ingenious young man, one Wygate, who, having wealthy relations, had been better educated than most printers; was a tolerable Latinist, spoke French, and lov'd reading. I taught him and a friend of his to swim at twice going into the river, and they soon became good swimmers. They introduc'd me to some gentlemen from the country, who went to Chelsea by water to see the College and Don Saltero's curiosities. In our return, at the request of the company, whose curiosity Wygate had excited, I stripped and leaped into the river, and swam from near Chelsea to Blackfryar's, performing on the way many feats of activity, both upon and under water, that surpris'd and pleas'd those to whom they were novelties.
In making acquisitions, we have a further advantage: As payment, we can offer sellers a stock backed by an extraordinary collection of outstanding businesses. An individual or a family wishing to dispose of a single…