Quotes taken from this year’s letter to shareholders;
“All I want to know is where I am going to die, so I’ll never go there.” Charlie Munger (Buffett’s offsider) Warren Buffett;
Our defense has been better than our offense, and that’s likely to continue.
Charlie and I avoid businesses whose future value we can’t evaluate, no matter how exciting their products may be.
At Berkshire we will stick with businesses whose profit picture for decades to come seem reasonably predictable.
Our Goal is to tell you what we would like to know if our positions were reversed.
Tony still tap dances to the office every day, as I do at 79.
If Charlie, I and Ajit (one of Buffett’s managers) are ever in a sinking boat – and you can only save one of us – swim to Ajit.
I subtly indicated I was older and wiser. I was just older. (Referring to one of Buffett’s poor investment decisions).
Berkshire’s ever growing collection of good to great businesses should produce above average, but certainly not spectacular, returns in decades ahead.
We eat our own cooking….no other testimonial means more.
Within a year or so the residential housing problems should largely be behind us.
We backed our view with some purchases, but I should have done far more. Big opportunities come infrequently. When it’s raining gold, reach for buckets, not a thimble.
We’ve put a lot of money to work during the chaos of the last two years. It’s been an ideal period for investing. A client of fear is their best friend.
To read the full letter CLICK HERE
Brought to you by