The Siemens Gas Furnace had been used to some extent in Great Britain for heating steel and iron, but it was supposed to be too expensive. I well remember the criticisms made by older heads among the Pittsburgh…
The Siemens Gas Furnace had been used to some extent in Great Britain for heating steel and iron, but it was supposed to be too expensive. I well remember the criticisms made by older heads among the Pittsburgh…
The Siemens Gas Furnace had been used to some extent in Great Britain for heating steel and iron, but it was supposed to be too expensive. I well remember the criticisms made by older heads among the Pittsburgh…
There is also the great fear of being thought a fool. So many men are afraid of being considered fools. I grant that public opinion is a powerful police influence for those who need it. Perhaps it is true that the majority of men need the restraint of public opinion. Public opinion may keep a man better than he would otherwise be--if not better morally, at least better as far as his social desirability is concerned. But it is not a bad thing to be a fool for righteousness' sake. The best of it is that such fools usually live long enough to prove that they were not fools--or the work they have begun lives long enough to prove they were not foolish.
沃伦·巴菲特《伯克希尔·哈撒韦 2020 年致股东信》· 2020 Chairman's Letter · 投资
As I’ve emphasized many times, Charlie and I view Berkshire’s holdings of marketable stocks – at yearend worth $281 billion – as a collection of businesses. We don’t control the operations of those companies, but we do share proportionately in their long-term prosperity. From an accounting standpoint, however, our portion of their earnings is not included in Berkshire’s income. Instead, only what these investees pay us in dividends is recorded on our books. Under GAAP, the huge sums that investees retain on our behalf become invisible.
The Siemens Gas Furnace had been used to some extent in Great Britain for heating steel and iron, but it was supposed to be too expensive. I well remember the criticisms made by older heads among the Pittsburgh…