The lines in those days worked poorly, and during a storm much had to be guessed at. My guessing powers were said to be phenomenal, and it was my favorite diversion to fill up gaps instead of interrupting the sender and…
The lines in those days worked poorly, and during a storm much had to be guessed at. My guessing powers were said to be phenomenal, and it was my favorite diversion to fill up gaps instead of interrupting the sender and…
The lines in those days worked poorly, and during a storm much had to be guessed at. My guessing powers were said to be phenomenal, and it was my favorite diversion to fill up gaps instead of interrupting the sender and…
I may speak thus frankly, because I am an investor in many American enterprises, but a controller of none (with one exception, and that a company which has not been much of a dividend payer), and I, like all the rest,…
21:00 Figures · Investing · Modern investor letters
Warren Buffett:Berkshire 1988 Letter, Excerpt 2
Warren Buffett《Berkshire Hathaway 1988 Letter to Shareholders》· 1988 Chairman's Letter · Investing
Berkshire’s past rates of gain in both book value and business value were achieved under circumstances far different from those that now exist. Anyone ignoring these differences makes the same mistake that a baseball manager would were he to judge the future prospects of a 42-year-old center fielder on the basis of his lifetime batting average.
The lines in those days worked poorly, and during a storm much had to be guessed at. My guessing powers were said to be phenomenal, and it was my favorite diversion to fill up gaps instead of interrupting the sender and…