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“Pascal’s observation seems apt: “It has struck me that all men’s misfortunes spring from the single cause that they are unable to stay quietly in one room.”
― Berkshire Hathaway Letters to Shareholders: 1965-2024
― Berkshire Hathaway Letters to Shareholders: 1965-2024
“Witness the tenacity with which almost all clung to the theory of efficient markets throughout the 1970s and 1980s, dismissively calling powerful facts that refuted it “anomalies.” (I always love explanations of that kind: The Flat Earth Society probably views a ship’s circling of the globe as an annoying, but inconsequential, anomaly.)”
― Berkshire Hathaway Letters to Shareholders: 1965-2024
― Berkshire Hathaway Letters to Shareholders: 1965-2024
“Our capital is underutilized now, but that will happen periodically. It’s a painful condition to be in — but not as painful as doing something stupid. (I speak from experience.)”
― Berkshire Hathaway Letters to Shareholders: 1965-2024
― Berkshire Hathaway Letters to Shareholders: 1965-2024
“When Walter and Edwin were asked in 1989 by Outstanding Investors Digest, “How would you summarize your approach?” Edwin replied, “We try to buy stocks cheap.” So much for Modern Portfolio Theory, technical analysis, macroeconomic thoughts and complex algorithms.”
― Berkshire Hathaway Letters to Shareholders: 1965-2024
― Berkshire Hathaway Letters to Shareholders: 1965-2024
“As practiced, diversification makes very little sense for anyone that knows what they’re doing. Diversification is a protection against ignorance. If you want to make sure nothing bad happens to you relative to the market, sure you should diversify. There's nothing necessarily wrong with that...but in our view, true diversification is simply a confession that you do not truly understand the businesses that you own. If you find just 3 wonderful businesses in your lifetime, you'll get very rich.”
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Almost’s 2025 Year in Books
Take a look at Almost’s Year in Books, including some fun facts about their reading.
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Biography, Business, Classics, History, Non-fiction, Philosophy, Psychology, Science, Self help, Sports, and Travel
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