Tag Archive

During the 2015 Berkshire Hathaway Annual Meeting, Warren Buffett explained why he doesn’t ‘talk up’ Berkshire’s investments. Here’s an excerpt from the meeting: WARREN BUFFETT: Incidentally, there’s one thing I always find interesting. We get asked questions about investments we own, and people think we want to talk them up, … Read More

In his 1965 Buffett Partnership Letter, Warren Buffett explains why he derives no comfort because important people, vocal people, or great numbers of people agree with him. Nor does he derive comfort if they don’t. A public opinion poll is no substitute for thought, he says. Here’s an excerpt from … Read More

During the 2009 Berkshire Hathaway Annual Meeting, Warren Buffett explained why you should ignore your original costs when reviewing your portfolio. Here’s an excerpt from the meeting: AUDIENCE MEMBER: Hello, Mr. Buffett. Sorry, about that. Mr. Buffett and Mr. Munger, my name’s Kelly Cardwell from Warrenville, Illinois. Guys, if either … Read More

During the 2019 Berkshire Hathaway Annual Meeting, Warren Buffett discusses how Berkshire Hathaway has had to adapt over the years to keep up with the changing business landscape. Here’s an excerpt from the meeting: WARREN BUFFETT: Yeah. But I mean, we basically want to have a group of managers, and … Read More

In the Berkshire Hathaway Owner’s Manual, Warren Buffett explains why he is willing to reject interesting opportunities rather than over-leverage his balance sheet. Here’s an excerpt from the Owner’s Manual: We use debt sparingly and, when we do borrow, we attempt to structure our loans on a long-term fixed-rate basis. … Read More

In his 1984 Berkshire Hathaway Annual Letter, a year in which Berkshire Hathaway’s net worth increased by $152.6 million, or 13.6%. Warren Buffett explained why “big ideas” were the only way to help the company achieve its long-term goal of earning 15% annually. Here’s an excerpt from the letter: Using … Read More

During the 2010 Berkshire Hathaway Annual Meeting, Warren Buffett explained why you have to be prepared to grab opportunities when they come around. Here’s an excerpt from the meeting: WARREN BUFFETT: There will probably be fewer, but I would say there will always be — except in the most bubbly … Read More

In his 2012 Berkshire Hathaway Annual Letter, Warren Buffett explained why he follows Phil Fisher’s approach to dividends. Here’s an excerpt from the letter: Buffett: Above all, dividend policy should always be clear, consistent and rational. A capricious policy will confuse owners and drive away would-be investors. Phil Fisher put … Read More

During the 1994 Berkshire Hathaway Annual Meeting, Warren Buffett explained why some of the best businesses don’t grow. Here’s an excerpt from the meeting: AUDIENCE MEMBER: I’m Howard Bask (PH). I’m from Kansas City. When you are estimating a growth rate on a company (inaudible), a very predictable company, I … Read More

In his 1998 Berkshire Hathaway Letter, Warren Buffett discussed their ‘clean sweep’ approach to business and investing. Here’s an excerpt from the letter: During the year, we slightly increased our holdings in American Express, one of our three largest commitments, and left the other two unchanged. However, we trimmed or … Read More

In his 1979 Berkshire Hathaway Letter, Warren Buffett discussed the secret to keeping shareholder turnover low. Here’s an excerpt from the letter: Buffett: In large part, companies obtain the shareholder constituency that they seek and deserve. If they focus their thinking and communications on short-term results or short-term stock market … Read More

During the 2009 Berkshire Hathaway Annual Meeting, Warren Buffett explained why Berkshire is not interested in spinning-off its companies. Here’s an excerpt from the meeting: WARREN BUFFETT: Yeah, we will not be spinning off any companies. We had to — we were a bank holding company, believe it or not, … Read More

During this interview with CNBC, Warren Buffett explained why the trick is not to pick the right company for most investors. Here’s an excerpt from the interview: Buffett: I think it’s the same thing that makes most sense practically all of the time, and that is to consistently buy an … Read More

In his 1989 Berkshire Hathaway Letter, Warren Buffett explains why he should have bought Coca-Cola 50 years earlier than he did. Here’s an excerpt from the letter: This Coca-Cola investment provides yet another example of the incredible speed with which your Chairman responds to investment opportunities, no matter how obscure … Read More