It was a good year for Berkshire on all major fronts, except one. Here are the important developments: ‹ Our “Powerhouse Five” – a collection of Berkshire’s largest non-insurance businesses – had a record $12.4…
It was a good year for Berkshire on all major fronts, except one. Here are the important developments: ‹ Our “Powerhouse Five” – a collection of Berkshire’s largest non-insurance businesses – had a record $12.4…
Adam Smith:The Wealth of Nations, Book I, Chapter XI, Paragraph 387
Adam Smith《The Wealth of Nations》· Book I, Chapter XI · Investing
The particular consideration, first, of those parts of the produce of land which always afford some rent; secondly, of those which sometimes may and sometimes may not afford rent; and, thirdly, of the variations which, in the different periods of improvement, naturally take place in the relative value of those two different sorts of rude produce, when compared both with one another and with manufactured commodities, will divide this chapter into three parts.
By the early 1990s, however, our focus had changed to the outright ownership of businesses, a shift that diminished the relevance of balance-sheet figures. That disconnect occurred because the accounting rules that…
It was a good year for Berkshire on all major fronts, except one. Here are the important developments: ‹ Our “Powerhouse Five” – a collection of Berkshire’s largest non-insurance businesses – had a record $12.4…
Benjamin Franklin:The Autobiography of Benjamin Franklin, Excerpt 41
Benjamin Franklin《The Autobiography of Benjamin Franklin》· The Autobiography of Benjamin Franklin · Leadership
When we were about to sign the above-mentioned articles, which were to be binding upon us, our heirs, etc., for fifty years, Mr. Brockden, the scrivener, said to us, "You are young men, but it is scarcely probable that any of you will live to see the expiration of the term fix'd in the instrument." A number of us, however, are yet living; but the instrument was after a few years rendered null by a charter that incorporated and gave perpetuity to the company.
It was a good year for Berkshire on all major fronts, except one. Here are the important developments: ‹ Our “Powerhouse Five” – a collection of Berkshire’s largest non-insurance businesses – had a record $12.4…