I mention this affair chiefly for the sake of recommending that branch of education for our young females, as likely to be of more use to them and their children, in case of widowhood, than either music or dancing, by…
Naturally, I came to see more of him. The business relations which began with the handling of produce he consigned to our old firm grew into a business friendship, because people who lived in a comparatively small place…
Naturally, I came to see more of him. The business relations which began with the handling of produce he consigned to our old firm grew into a business friendship, because people who lived in a comparatively small place…
Of all the profitable things which develop quickly under the hand, I have thought my young nurseries show the greatest yield. We keep a set of account books for each place, and I was amazed not long ago at the increase in value that a few years make in growing things, when we came to remove some young trees from Westchester County to Lakewood, New Jersey. We plant our young trees, especially evergreens, by the thousand--I think we have put in as many as ten thousand at once, and let them develop, to be used later in some of our planting schemes. If we transfer young trees from Pocantico to our home in Lakewood, we charge one place and credit the other for these trees at the market rate. We are our own best customers, and we make a small fortune out of ourselves by selling to our New Jersey place at $1.50 or $2.00 each, trees which originally cost us only five or ten cents at Pocantico.
沃伦·巴菲特《伯克希尔·哈撒韦 2012 年致股东信》· 2012 Chairman's Letter · 投资
Charlie and I believe the gain in Berkshire’s intrinsic value will over time likely surpass the S&P returns by a small margin. We’re confident of that because we have some outstanding businesses, a cadre of terrific operating managers and a shareholder-oriented culture. Our relative performance, however, is almost certain to be better when the market is down or flat. In years when the market is particularly strong, expect us to fall short.
Naturally, I came to see more of him. The business relations which began with the handling of produce he consigned to our old firm grew into a business friendship, because people who lived in a comparatively small place…