I Knew A Lot About

Cash Combined With Courage In A Time Of Crisis Is Priceless.

In The 20th Century, The United States Endured Two World Wars And Other Traumatic And Expensive Military Conflicts; The Depression; A Dozen Or So Recessions And Financial Panics; Oil Shocks; A Flu Epidemic; And The Resignation Of A Disgraced President. Yet The Dow Rose From 66 To 11,497.

The Managers At Fault Periodically Report On The Lesson They Have Learned From The Latest Disappointment. They Then Usually Seek Out Future Lessons.

I Never Buy Anything Unless I Can Fill Out On A Piece Of Paper My Reasons. I May Be Wrong, But I Would Know The Answer To That ...i'm Paying $32 Billion Today For The Coca Cola Company Because... If You Can't Answer That Question, You Shouldn't Buy It. If You Can Answer That Question, And You Do It A Few Times, You'll Make A Lot Of Money.

When Berkshire Buys Common Stock, We Approach The Transaction As If We Were Buying Into A Private Business.