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December 15, 2018


Mr Market’s incurable emotional problems

In his letter (dated February 29, 1988 for FY1987) to Berkshire Hathaway shareholders, Warren Buffett said: “Ben Graham, my friend and teacher, long ago described the mental attitude toward market fluctuations that I believe to be most conducive to investment success. He said that you should imagine market quotations as coming from a remarkably accommodating fellow named Mr. Market

Fear is the foe of the faddist, but the friend of the fundamentalist

A Bloomberg report (Buffett Broadens Portfolio by Spending $23.9 Billion in Quarter) dated Nov 7, 2011, said that Warren Buffett’s Berkshire Hathaway Inc invested US$23.9 billion in the third-quarter, the most in at least 15 years, as he accelerated stock purchases and broadened the portfolio beyond consumer and financial-company holdings. “Buffett, 81, drew down Berkshire’s

When financial institutions swim naked

“You only learn who has been swimming naked when the tide goes out…” This quote comes from Warren Buffett in his letter (February 2008) to Berkshire Hathaway shareholders for Year 2007. Mr Buffet was commenting on the woes facing financial institutions. Here is an excerpt: “Some major financial institutions have, however, experienced staggering problems because

Warren Buffett: French cuisine or take-out chicken?

Is a corporation trying to attract shareholders akin to a restaurant trying to attract potential customers? In his letter dated March 3, 1980 for FY1979 to Berkshire Hathaway stakeholders, Warren Buffett said: “Phil Fisher, a respected investor and author, once likened the policies of the corporation in attracting shareholders to those of a restaurant attracting

Warren Buffett looks for enduring moat

Warren Buffett: “A truly great business must have an enduring ‘moat’ that protects excellent returns on invested capital.” Mr Buffett said this in his letter to Berkshire shareholders (February 2008) for Year 2007. Illustrating on this ‘moat’ concept, Mr Buffett said: “The dynamics of capitalism guarantee that competitors will repeatedly assault any business ‘castle’ that is

America’s best days lie ahead

This line came from Berkshire Hathaway chairman Warren Buffett in his annual letter (26 February 2011) to shareholders for Year 2010. To the prophets of doom, Warren Buffett has this to say: “The prophets of doom have overlooked the all-important factor that is certain: Human potential is far from exhausted, and the American system for

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