Our advice? Focus on operating earnings, paying little attention to gains or losses of any variety. My saying that in no way diminishes the importance of our investments to Berkshire. Over time, Charlie and I expect…
Understanding that Colonel French had brought on board the governor's despatches, I ask'd the captain for those letters that were to be under my care. He said all were put into the bag together and he could not then…
Our advice? Focus on operating earnings, paying little attention to gains or losses of any variety. My saying that in no way diminishes the importance of our investments to Berkshire. Over time, Charlie and I expect…
Understanding that Colonel French had brought on board the governor's despatches, I ask'd the captain for those letters that were to be under my care. He said all were put into the bag together and he could not then…
Warren Buffett《Berkshire Hathaway 1991 Letter to Shareholders》· 1991 Chairman's Letter · Investing
Coca-Cola and Gillette are two of the best companies in the world and we expect their earnings to grow at hefty rates in the years ahead. Over time, also, the value of our holdings in these stocks should grow in rough proportion. Last year, however, the valuations of these two companies rose far faster than their earnings. In effect, we got a double-dip benefit, delivered partly by the excellent earnings growth and even more so by the market's reappraisal of these stocks. We believe this reappraisal was warranted. But it can't recur annually: We'll have to settle for a single dip in the future.
Understanding that Colonel French had brought on board the governor's despatches, I ask'd the captain for those letters that were to be under my care. He said all were put into the bag together and he could not then…
Our advice? Focus on operating earnings, paying little attention to gains or losses of any variety. My saying that in no way diminishes the importance of our investments to Berkshire. Over time, Charlie and I expect…
Andrew Carnegie:Autobiography of Andrew Carnegie, Excerpt 41
Andrew Carnegie《Autobiography of Andrew Carnegie》· Chapter VII · Leadership
Mr. Scott was promoted to be the general superintendent of the Pennsylvania Railroad in 1856, taking Mr. Lombaert's place; and he took me, then in my twenty-third year, with him to Altoona. This breaking-up of associations in Pittsburgh was a sore trial, but nothing could be allowed to interfere for a moment with my business career. My mother was satisfied upon this point, great as the strain was upon her. Besides, "follow my leader" was due to so true a friend as Mr. Scott had been.
Our advice? Focus on operating earnings, paying little attention to gains or losses of any variety. My saying that in no way diminishes the importance of our investments to Berkshire. Over time, Charlie and I expect…