Peace being concluded, and the association business therefore at an end, I turn'd my thoughts again to the affair of establishing an academy. The first step I took was to associate in the design a number of active…
This ore trade was of great and absorbing interest at Cleveland. My old employer was paid $4 a ton for carrying ore from the Marquette regions fifty years ago, and to think of the wickedness of this maker of woodland…
This ore trade was of great and absorbing interest at Cleveland. My old employer was paid $4 a ton for carrying ore from the Marquette regions fifty years ago, and to think of the wickedness of this maker of woodland…
Peace being concluded, and the association business therefore at an end, I turn'd my thoughts again to the affair of establishing an academy. The first step I took was to associate in the design a number of active…
沃伦·巴菲特《伯克希尔·哈撒韦 1984 年致股东信》· 1984 Chairman's Letter · 投资
Our gain in net worth during 1984 was $152.6 million, or $133 per share. This sounds pretty good but actually it’s mediocre. Economic gains must be evaluated by comparison with the capital that produces them. Our twenty-year compounded annual gain in book value has been 22.1% (from $19.46 in 1964 to $1108.77 in 1984), but our gain in 1984 was only 13.6%.
This ore trade was of great and absorbing interest at Cleveland. My old employer was paid $4 a ton for carrying ore from the Marquette regions fifty years ago, and to think of the wickedness of this maker of woodland…