And here I made my first note, and actually got a banker to take it. A proud moment that in a young man's career! The sleeping-cars were a great success and their monthly receipts paid the monthly installments. The first considerable sum I made was from this source. [To-day, July 19, 1909, as I re-read this, how glad I am that I have recently heard from Mr. Lloyd's married daughter telling me of her father's deep affection for me, thus making me very happy, indeed.]
Tho' I seldom attended any public worship, I had still an opinion of its propriety, and of its utility when rightly conducted, and I regularly paid my annual subscription for the support of the only Presbyterian…
The colony trade, however, it may perhaps be said, is more advantageous to Great Britain than any other; and the monopoly, by forcing into that trade a greater proportion of the capital of Great Britain than what would otherwise have gone to it, has turned that capital into an employment, more advantageous to the country than any other which it could have found.
Tho' I seldom attended any public worship, I had still an opinion of its propriety, and of its utility when rightly conducted, and I regularly paid my annual subscription for the support of the only Presbyterian…
沃伦·巴菲特《伯克希尔·哈撒韦 1994 年致股东信》· 1994 Chairman's Letter · 投资
But, surprise - none of these blockbuster events made the slightest dent in Ben Graham's investment principles. Nor did they render unsound the negotiated purchases of fine businesses at sensible prices. Imagine the cost to us, then, if we had let a fear of unknowns cause us to defer or alter the deployment of capital. Indeed, we have usually made our best purchases when apprehensions about some macro event were at a peak. Fear is the foe of the faddist, but the friend of the fundamentalist.
Tho' I seldom attended any public worship, I had still an opinion of its propriety, and of its utility when rightly conducted, and I regularly paid my annual subscription for the support of the only Presbyterian…