Warren Buffett：Berkshire 1986 Letter, Excerpt 4

So much for the good news. The bad news is that my performance did not match that of our managers. While they were doing a superb job in running our businesses, I was unable to skillfully deploy much of the capital they generated.

Source： https://www.berkshirehathaway.com/letters/1986.html
Locator：1986 Chairman's Letter, excerpt 4 · Verified：2026-10-19 · Verification：Short excerpt

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