Adam Smith:The Wealth of Nations, Book V, Chapter II, Paragraph 1973
Adam Smith《The Wealth of Nations》· Book V, Chapter II · Investing
Of the former kind, are in England, the tax upon hawkers and pedlars, that upon hackney-coaches and chairs, and that which the keepers of ale-houses pay for a licence to retail ale and spiritous liquors. During the late war, another tax of the same kind was proposed upon shops. The war having been undertaken, it was said, in defence of the trade of the country, the merchants, who were to profit by it, ought to contribute towards the support of it.
We continue to feel that the ratio of operating earnings (before securities gains or losses) to shareholders’ equity with all securities valued at cost is the most appropriate way to measure any single year’s…
As you know, Blue Chip Stamps, our 60% owned subsidiary, is fully consolidated in Berkshire Hathaway’s financial statements. However, Blue Chip still is required to carry its equity investments at the lower of aggregate…
We continue to feel that the ratio of operating earnings (before securities gains or losses) to shareholders’ equity with all securities valued at cost is the most appropriate way to measure any single year’s…
As you know, Blue Chip Stamps, our 60% owned subsidiary, is fully consolidated in Berkshire Hathaway’s financial statements. However, Blue Chip still is required to carry its equity investments at the lower of aggregate…
Benjamin Franklin:The Autobiography of Benjamin Franklin, Excerpt 48
Benjamin Franklin《The Autobiography of Benjamin Franklin》· The Autobiography of Benjamin Franklin · Leadership
My first promotion was my being chosen, in 1736, clerk of the General Assembly. The choice was made that year without opposition; but the year following, when I was again propos'd (the choice, like that of the members, being annual), a new member made a long speech against me, in order to favour some other candidate. I was, however, chosen, which was the more agreeable to me, as, besides the pay for the immediate service as clerk, the place gave me a better opportunity of keeping up an interest among the members, which secur'd to me the business of printing the votes, laws, paper money, and other occasional jobbs for the public, that, on the whole, were very profitable.
As you know, Blue Chip Stamps, our 60% owned subsidiary, is fully consolidated in Berkshire Hathaway’s financial statements. However, Blue Chip still is required to carry its equity investments at the lower of aggregate…