From Warren Buffett's 1985 shareholder letter:
"A good managerial record is far more a function of what business boat you get into than it is of how effectively you row."
$Berkshire Hathaway 13F(BK2999.US$$Berkshire Hathaway-A(BRK.A.US$$Berkshire Hathaway-B(BRK.B.US$$Apple(AAPL.US$$Coca-Cola(KO.US$
$Berkshire Hathaway 13F(BK2999.US$$Berkshire Hathaway-A(BRK.A.US$$Berkshire Hathaway-B(BRK.B.US$$Apple(AAPL.US$$Coca-Cola(KO.US$
7
TRUE
"If you can find a company that can get away with raising prices year after year without losing customers you've got a terrific investment."
— Peter Lynch
Finding businesses with pricing power is pure gold. When customers just accept higher costs year after year, profits must be rolling in!
Gotta appreciate companies that people will pay whatever for.
$Berkshire Hathaway 13F(BK2999.US$$Berkshire Hathaway-A(BRK.A.US$$Berkshire Hathaway-B(BRK.B.US$$Apple(AAPL.US$$Coca-Cola(KO.US$$The Kraft Heinz(KHC.US$$Amazon(AMZN.US$
— Peter Lynch
Finding businesses with pricing power is pure gold. When customers just accept higher costs year after year, profits must be rolling in!
Gotta appreciate companies that people will pay whatever for.
$Berkshire Hathaway 13F(BK2999.US$$Berkshire Hathaway-A(BRK.A.US$$Berkshire Hathaway-B(BRK.B.US$$Apple(AAPL.US$$Coca-Cola(KO.US$$The Kraft Heinz(KHC.US$$Amazon(AMZN.US$
6
Greed when others are afraid
“The higher the pessimism and related market fluctuations—better are the opportunities to enrich ourselves.
So the next time someone asks you ‘Does the stock correction affects you?,’ you can answer: ‘Certainly, it improves my chances of getting richer.’”
— Francois Rochon
$Berkshire Hathaway 13F(BK2999.US$$Berkshire Hathaway-A(BRK.A.US$$Berkshire Hathaway-B(BRK.B.US$$Bank of America(BAC.US$$S&P 500 Index(.SPX.US$
So the next time someone asks you ‘Does the stock correction affects you?,’ you can answer: ‘Certainly, it improves my chances of getting richer.’”
— Francois Rochon
$Berkshire Hathaway 13F(BK2999.US$$Berkshire Hathaway-A(BRK.A.US$$Berkshire Hathaway-B(BRK.B.US$$Bank of America(BAC.US$$S&P 500 Index(.SPX.US$
4
Peter Lynch when asked what it takes to become a great investor:
"In the stock market, the most important organ is the stomach. It’s not the brain. On the way to work, the amount of bad news you could hear is almost infinite now.
So the question is: Can you take that?
Do you really have faith that ten years, 20 years, 30 years from now stocks are the place to be? If you believe in that, you should have some money in equity funds.
It’s a question of what’s your tolerance for pain. There will ...
So the question is: Can you take that?
Do you really have faith that ten years, 20 years, 30 years from now stocks are the place to be? If you believe in that, you should have some money in equity funds.
It’s a question of what’s your tolerance for pain. There will ...
7
1
I love this quote
"Warren and I do more reading and thinking and less doing than most people in business..."
"That’s what created one of the most successful business records in history: Warren has a lot of time to think."
— Charlie Munger
Quality thinking often leads to quality doing.
Taking time to read and think is the secret sauce behind success.
$Berkshire Hathaway 13F(BK2999.US$$Berkshire Hathaway-A(BRK.A.US$$Berkshire Hathaway-B(BRK.B.US$$Coca-Cola(KO.US$$Apple(AAPL.US$
"That’s what created one of the most successful business records in history: Warren has a lot of time to think."
— Charlie Munger
Quality thinking often leads to quality doing.
Taking time to read and think is the secret sauce behind success.
$Berkshire Hathaway 13F(BK2999.US$$Berkshire Hathaway-A(BRK.A.US$$Berkshire Hathaway-B(BRK.B.US$$Coca-Cola(KO.US$$Apple(AAPL.US$
4
True, success lies in strategic decision-making rather than mere action.
Warren Buffett's wisdom shows us the importance of patience and thoughtful investments.
"In allocating capital, activity does not correlate with achievement. Indeed, in the fields of investments and acquisitions, frenetic behaviour is often counterproductive."
— Warren Buffett
The focus should be on quality over quantity when it comes to allocating capital. A strategic approach in investments and acquisitions can lead t...
"In allocating capital, activity does not correlate with achievement. Indeed, in the fields of investments and acquisitions, frenetic behaviour is often counterproductive."
— Warren Buffett
The focus should be on quality over quantity when it comes to allocating capital. A strategic approach in investments and acquisitions can lead t...
4
I love this quote
"The record shows the advantage of a peculiar mindset: not seeking action for its own sake, but instead combining extreme patience with extreme decisiveness."
— Charlie Munger
$Berkshire Hathaway 13F(BK2999.US$$Berkshire Hathaway-A(BRK.A.US$$Berkshire Hathaway-B(BRK.B.US$$Apple(AAPL.US$$Coca-Cola(KO.US$
— Charlie Munger
$Berkshire Hathaway 13F(BK2999.US$$Berkshire Hathaway-A(BRK.A.US$$Berkshire Hathaway-B(BRK.B.US$$Apple(AAPL.US$$Coca-Cola(KO.US$
5
A curious mind is a powerful asset in both life and investing.
“People should wake up in the morning and start the day by practicing, 'I don’t know. I don’t know.' It’s a great thing to say, and not enough people say it.”
— Howard Marks
“If I don't know, I don't invest.”
— Warren Buffett
Embracing the unknown can be a powerful mindset for growth and learning, helping us make wiser decisions and approach life with curiosity.
$Berkshire Hathaway 13F(BK2999.US$$Berkshire Hathaway-A(BRK.A.US$$Berkshire Hathaway-B(BRK.B.US$$Tesla(TSLA.US$$Apple(AAPL.US$$Coca-Cola(KO.US$$S&P 500 Index(.SPX.US$
— Howard Marks
“If I don't know, I don't invest.”
— Warren Buffett
Embracing the unknown can be a powerful mindset for growth and learning, helping us make wiser decisions and approach life with curiosity.
$Berkshire Hathaway 13F(BK2999.US$$Berkshire Hathaway-A(BRK.A.US$$Berkshire Hathaway-B(BRK.B.US$$Tesla(TSLA.US$$Apple(AAPL.US$$Coca-Cola(KO.US$$S&P 500 Index(.SPX.US$
2
1
Both Smith and Buffett remind us: Stick to what you know and avoid market noise.
"There are only two types of people: those who can't market time and those who don't know they can't."
— T. Smith
"Charlie and I never have an opinion about the market because it wouldn’t be any good—and it might interfere with the opinions we have that are good."
— W. Buffett
$Berkshire Hathaway 13F(BK2999.US$$Berkshire Hathaway-A(BRK.A.US$$Berkshire Hathaway-B(BRK.B.US$$Apple(AAPL.US$$Coca-Cola(KO.US$
— T. Smith
"Charlie and I never have an opinion about the market because it wouldn’t be any good—and it might interfere with the opinions we have that are good."
— W. Buffett
$Berkshire Hathaway 13F(BK2999.US$$Berkshire Hathaway-A(BRK.A.US$$Berkshire Hathaway-B(BRK.B.US$$Apple(AAPL.US$$Coca-Cola(KO.US$
2
“If you think a business is going to be around in 10-20 years, and if they’re going to be able to price advantageously—that’s going to be a good business.”
“We will stick with businesses whose profit picture for decades to come seems reasonably predictable.”
— Warren Buffett
$Berkshire Hathaway 13F(BK2999.US$$Berkshire Hathaway-A(BRK.A.US$$Berkshire Hathaway-B(BRK.B.US$$Coca-Cola(KO.US$$Apple(AAPL.US$
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