Two factors make anything approaching this rate of gain unachievable in the future. One factor probably transitory - is a stock market that offers very little opportunity compared to the markets that prevailed…
Two factors make anything approaching this rate of gain unachievable in the future. One factor probably transitory - is a stock market that offers very little opportunity compared to the markets that prevailed…
Adam Smith:The Wealth of Nations, Book I, Chapter XI, Paragraph 449
Adam Smith《The Wealth of Nations》· Book I, Chapter XI · Investing
The lowest price at which coals can be sold for any considerable time, is, like that of all other commodities, the price which is barely sufficient to replace, together with its ordinary profits, the stock which must be employed in bringing them to market. At a coal mine for which the landlord can get no rent, but, which he must either work himself or let it alone altogether, the price of coals must generally be nearly about this price.
This change in the market also has negative implications for our present portfolio. In our 1974 annual report I could say: “We consider several of our major holdings to have great potential for significantly increased…
Two factors make anything approaching this rate of gain unachievable in the future. One factor probably transitory - is a stock market that offers very little opportunity compared to the markets that prevailed…
Henry Ford《My Life and Work》· Chapter VI · Leadership
None of our machines is ever built haphazardly. The idea is investigated in detail before a move is made. Sometimes wooden models are constructed or again the parts are drawn to full size on a blackboard. We are not bound by precedent but we leave nothing to luck, and we have yet to build a machine that will not do the work for which it was designed. About ninety per cent. of all experiments have been successful.
Two factors make anything approaching this rate of gain unachievable in the future. One factor probably transitory - is a stock market that offers very little opportunity compared to the markets that prevailed…