When Berkshire Buys Common Stock, We Approach

Knowing What To Leave Out Is Just As Important As Knowing What To Focus On.

If You Are Not Willing To Own A Stock For 10 Years, Do Not Even Think About Owning It For 10 Minutes.

Investing In A Market Where People Believe In Efficiency Is Like Playing Bridge With Someone Who Has Been Told It Doesn't Do Any Good To Look At The Cards.

If You Gave Me The Choice Of Being Ceo Of General Electric Or Ibm Or General Motors, You Name It, Or Delivering Papers, I Would Deliver Papers. I Would. I Enjoyed Doing That. I Can Think About What I Want To Think. I Don't Have To Do Anything I Don't Want To Do.

I Read Annual Reports Of The Company I'm Looking At And I Read The Annual Reports Of The Competitors - That Is The Main Source Of Material.