"I must not be seen with you, but you did me a favor once and I then resolved if ever I could serve you I would do it. I called at the office in Pittsburgh and asked for work as a blacksmith. You said there was no…
"I must not be seen with you, but you did me a favor once and I then resolved if ever I could serve you I would do it. I called at the office in Pittsburgh and asked for work as a blacksmith. You said there was no…
"I must not be seen with you, but you did me a favor once and I then resolved if ever I could serve you I would do it. I called at the office in Pittsburgh and asked for work as a blacksmith. You said there was no…
This enterprise, conducted by men of application and ability working hard together, soon built up unusual facilities in manufacture, in transportation, in finance, and in extending markets. We had our troubles and…
21:00 Figures · Investing · Modern investor letters
Warren Buffett:Berkshire 1982 Letter, Excerpt 1
Warren Buffett《Berkshire Hathaway 1982 Letter to Shareholders》· 1982 Chairman's Letter · Investing
Operating earnings of $31.5 million in 1982 amounted to only 9.8% of beginning equity capital (valuing securities at cost), down from 15.2% in 1981 and far below our recent high of 19.4% in 1978. This decline largely resulted from:
"I must not be seen with you, but you did me a favor once and I then resolved if ever I could serve you I would do it. I called at the office in Pittsburgh and asked for work as a blacksmith. You said there was no…