Warren Buffett：Berkshire Hathaway 1987 Letter, Additional Excerpt 2

The value of market esoterica to the consumer of investment advice is a different story. In my opinion, investment success will not be produced by arcane formulae, computer programs or signals flashed by the price behavior of stocks and markets. Rather an investor will succeed by coupling good business judgment with an ability to insulate his thoughts and behavior from the super-contagious emotions that swirl about the marketplace. In my own efforts to stay insulated, I have found it highly useful to keep Ben's Mr. Market concept firmly in mind.

Source： https://www.berkshirehathaway.com/letters/1987.html
Locator：1987 Chairman's Letter, additional excerpt 2 · Verified：2026-10-19 · Verification：Short excerpt

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