This formed the subject of our Sunday afternoon conferences for many a week. Was that true or not, and what was to be the consequence of Tom's declaration? Should we no longer be welcome guests of Mrs. McMillan? We…
Thenceforth I never worked for a salary. A man must necessarily occupy a narrow field who is at the beck and call of others. Even if he becomes president of a great corporation he is hardly his own master, unless he…
Warren Buffett《Berkshire Hathaway 2021 Letter to Shareholders》· 2021 Chairman's Letter · Investing
Berkshire owns a wide variety of businesses, some in their entirety, some only in part. The second group largely consists of marketable common stocks of major American companies. Additionally, we own a few non-U.S. equities and participate in several joint ventures or other collaborative activities.
Thenceforth I never worked for a salary. A man must necessarily occupy a narrow field who is at the beck and call of others. Even if he becomes president of a great corporation he is hardly his own master, unless he…
This formed the subject of our Sunday afternoon conferences for many a week. Was that true or not, and what was to be the consequence of Tom's declaration? Should we no longer be welcome guests of Mrs. McMillan? We…
21:00 Figures · Investing · Modern investor letters
Warren Buffett:Berkshire 2006 Letter, Excerpt 4
Warren Buffett《Berkshire Hathaway 2006 Letter to Shareholders》· 2006 Chairman's Letter · Investing
Over the years, however, we have focused more and more on the acquisition of operating businesses. Using our funds for these purchases has both slowed our growth in investments and accelerated our gains in pre-tax earnings from non-insurance businesses, the second yardstick we use. Here’s how those earnings have looked:
Thenceforth I never worked for a salary. A man must necessarily occupy a narrow field who is at the beck and call of others. Even if he becomes president of a great corporation he is hardly his own master, unless he…