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Monday, March 11 | ||||
Uncommon Sense
Berkshire Hathaway's Annual Report for 2001 was posted on the Internet last Saturday. The Chairman's Letter is required reading. Warren Buffett's writing is always smart, frank, and entertaining. Here are a few excerpts from this year's letter: Debt is a four-letter word around Berkshire. . . .outstanding long-term results primarily [are produced by] avoiding dumb decisions, rather than by making brilliant ones. Bad terminology is the enemy of good thinking. When stocks are rising. . . both questionable accounting and management chicanery often go undetected. |
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