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“The bedrock challenge for directors, nevertheless, remains constant: Find and retain a talented CEO — possessing integrity, for sure — who will be devoted to the company for his/her business lifetime. Often, that task is hard. When directors get it right, though, they need to do little else. But when they mess it up, . . . . . .”
― Berkshire Hathaway Letters to Shareholders: 1965-2024
― Berkshire Hathaway Letters to Shareholders: 1965-2024
“My direct experience (limited, thankfully) with CEOs who have played with a company’s numbers indicates that they were more often prompted by ego than by a desire for financial gain.”
― Berkshire Hathaway Letters to Shareholders: 1965-2024
― Berkshire Hathaway Letters to Shareholders: 1965-2024
“Investing is an activity in which consumption today is foregone in an attempt to allow greater consumption at a later date. “Risk” is the possibility that this objective won’t be attained. By that standard, purportedly “risk-free” long-term bonds in 2012 were a far riskier investment than a long- term investment in common stocks. At that time, even a 1% annual rate of inflation between 2012 and 2017 would have decreased the purchasing-power of the government bond”
― Berkshire Hathaway Letters to Shareholders: 1965-2024
― Berkshire Hathaway Letters to Shareholders: 1965-2024
“The bet illuminated another important investment lesson: Though markets are generally rational, they occasionally do crazy things. Seizing the opportunities then offered does not require great intelligence, a degree in economics or a familiarity with Wall Street jargon such as alpha and beta. What investors then need instead is an ability to both disregard mob fears or enthusiasms and to focus on a few simple fundamentals. A willingness to look unimaginative for a sustained period — or even to look foolish — is also essential.”
― Berkshire Hathaway Letters to Shareholders: 1965-2024
― Berkshire Hathaway Letters to Shareholders: 1965-2024
“At Berkshire, we will continue to look for business-savvy directors who are owner-oriented and arrive with a strong specific interest in our company. Thought and principles, not robot-like “process,” will guide their actions. In representing your interests, they will, of course, seek managers whose goals include delighting their customers, cherishing their associates and acting as good citizens of both their communities and our country. Those objectives are not new. They were the goals of able CEOs sixty years ago and remain so. Who would have it otherwise?”
― Berkshire Hathaway Letters to Shareholders: 1965-2024
― Berkshire Hathaway Letters to Shareholders: 1965-2024
Deep’s 2025 Year in Books
Take a look at Deep’s Year in Books, including some fun facts about their reading.
653 books
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129 friends
603 books
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173 friends
618 books
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412 friends
6 books
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84 friends
17 books
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37 friends
31 books
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71 friends
8 books
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63 friends
2 books
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31 friends
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