Austin Pierce

“On the Ideal Business - Buffett: “Something that costs a penny, sells for a dollar and is habit forming.”
― Daniel Pecaut, University of Berkshire Hathaway: 30 Years of Lessons Learned from Warren Buffett & Charlie Munger at the Annual Shareholders Meeting

“If investors only had to study the past, the richest people would be librarians.”
― Daniel Pecaut, University of Berkshire Hathaway: 30 Years of Lessons Learned from Warren Buffett & Charlie Munger at the Annual Shareholders Meeting

“Value is what a business is worth. Price is what you have to pay to get it.”
― Daniel Pecaut, University of Berkshire Hathaway: 30 Years of Lessons Learned from Warren Buffett & Charlie Munger at the Annual Shareholders Meeting

“Buffett also noted that book value is seldom meaningful in analyzing the value of a business. Book value simply records what was put into the business. The key to calculating value is determining what will come out of the business.”
― Daniel Pecaut, University of Berkshire Hathaway: 30 Years of Lessons Learned from Warren Buffett & Charlie Munger at the Annual Shareholders Meeting