o Our preference would be to reach this goal by directly owning a diversified group of businesses that generate cash and consistently earn above-average returns on capital. Our second choice is to own parts of similar…
o Our preference would be to reach this goal by directly owning a diversified group of businesses that generate cash and consistently earn above-average returns on capital. Our second choice is to own parts of similar…
Warren Buffett《Berkshire Hathaway 2023 Letter to Shareholders》· 2023 Chairman's Letter · Investing
In what I next relate, bear in mind that Charlie and his family did not have a dime invested in the small investing partnership that I was then managing and whose money I had used for the Berkshire purchase. Moreover, neither of us expected that Charlie would ever own a share of Berkshire stock.
o Our preference would be to reach this goal by directly owning a diversified group of businesses that generate cash and consistently earn above-average returns on capital. Our second choice is to own parts of similar…
Henry Ford《My Life and Work》· Chapter IV · Leadership
Indeed, there was some disposition to take this stand. Some of the stockholders were seriously alarmed when our production reached one hundred cars a day. They wanted to do something to stop me from ruining the company, and when I replied to the effect that one hundred cars a day was only a trifle and that I hoped before long to make a thousand a day, they were inexpressibly shocked and I understand seriously contemplated court action. If I had followed the general opinion of my associates I should have kept the business about as it was, put our funds into a fine administration building, tried to make bargains with such competitors as seemed too active, made new designs from time to time to catch the fancy of the public, and generally have passed on into the position of a quiet, respectable citizen with a quiet, respectable business.
o Our preference would be to reach this goal by directly owning a diversified group of businesses that generate cash and consistently earn above-average returns on capital. Our second choice is to own parts of similar…