I can't remember a period since March 11, 1942 - the date of my first stock purchase - that I have not had a majority of my net worth in equities, U.S.-based equities. ... All they have needed to do is sit quietly, listening to no one.
Our goal at Berkshire is simple: We want to own either all or a portion of businesses that enjoy good economics that are fundamental and enduring.... those who tell you they know the answer are usually either self-delusional or snake-oil salesmen.
Markets can - and will - unpredictably seize up or even vanish... Speed of communication and the wonders of technology facilitate instant worldwide paralysis... Such instant panics won't happen often - but they will happen.
Berkshire's ability to immediately respond to market seizures with both huge sums and certainty of performance may offer us an occasional large-scale acquisition opportunity.
Collection
[
|
...
]