I have already mention'd that I had only one year's instruction in a Latin school, and that when very young, after which I neglected that language entirely. But, when I had attained an acquaintance with the French,…
I have already mention'd that I had only one year's instruction in a Latin school, and that when very young, after which I neglected that language entirely. But, when I had attained an acquaintance with the French,…
I have already mention'd that I had only one year's instruction in a Latin school, and that when very young, after which I neglected that language entirely. But, when I had attained an acquaintance with the French,…
Buying a stock is buying a piece of a company, not a ticker.
21:00 Figures · Investing · Modern investor letters
Warren Buffett:Berkshire 1981 Letter, Excerpt 1
Warren Buffett《Berkshire Hathaway 1981 Letter to Shareholders》· 1981 Chairman's Letter · Investing
Operating earnings of $39.7 million in 1981 amounted to 15.2% of beginning equity capital (valuing securities at cost) compared to 17.8% in 1980. Our new plan that allows stockholders to designate corporate charitable contributions (detailed later) reduced earnings by about $900,000 in 1981. This program, which we expect to continue subject to annual evaluation of our corporate tax position, had not been initiated in 1980.
I have already mention'd that I had only one year's instruction in a Latin school, and that when very young, after which I neglected that language entirely. But, when I had attained an acquaintance with the French,…