#berkshire-hathaway-leadership-transition

#berkshire-hathaway-leadership-transition

Reading is probably the single most important thing you can do. Over time, I noticed that many of the most successful people in the world read constantly.

"I'm in favor of not having any rules against insider trading. I would like all the information out there as soon as it's available. Because look, as a society, we are better off knowing as soon as possible anything that is knowable."

The shift was apparent. People had a stake in the outcome, and they acted like it. Ideas flowed more freely, teams spotted and solved problems earlier, and employees took pride in identifying and implementing improvements.

If we went into some very major war, the value of money would go down... The last thing you'd want to do is hold money during a war... You're going to be a lot better off owning productive assets... than pieces of paper.

Without a doubt, picking Buffett-approved stocks would involve researching companies' valuation metrics, such as the price-to-earnings (P/E) ratio and price-to-sales (P/S) ratio. Yet, it's also important to make sure that each business's financials are in good shape. Additionally, it's a nice bonus when a business has a competitive advantage or "moat," or at least is highly competitive within its industry. With all of that in mind, we can now select three Buffett-style stocks with growth potential for your golden years.

Sam Bankman-Fried appeared on a Fortune cover in 2022 asking 'The Next Warren Buffett?' He's now serving a prison sentence for fraud. Eddie Lampert was Businessweek's 'Next Buffett' in 2004 before his Sears empire filed for bankruptcy in 2018.

Our culture begins with a partnership attitude. Our shareholders are our partners whose trust we have earned and must work to keep. Their interests are at the center of our decision-making.

Sometimes Warren Buffett says something so simple, so obvious, that you almost want to roll your eyes. At 95 years young, he has offered plainspoken advice that has shaped one of the most successful careers in history. But when you hear it, you know it's truth and part of you wonders: Why haven't I applied this yet? When we slow down long enough to sit with some of his wisdom-really let it sink in, not just skim it on our phones-

"Read 500 pages... every day. That's how knowledge works. It builds up, like compound interest." When Warren Buffett dropped this wisdom bomb, most people probably thought he was exaggerating. Five hundred pages? Every single day? Who has time for that? But here's the thing about Buffett that most people miss. The Oracle of Omaha isn't just talking about reading as some nice-to-have habit. For him, reading IS the work. It's the foundation of everything he's built, from turning Berkshire Hathaway into a $900 billion empire.

The mistake originates in logic. Logic reduces life to statistics. And statistics convert real-world business into spreadsheets of digits: total income, net profit, employee productivity. . . Those mathematical values are then scoured by logic for patterns and trends. Which is to say: The spreadsheets are fed into AI machine learning systems or analyzed by traders who (by engaging Daniel Kahneman's system 2) have rigorously purged their minds of bias.