Warren Buffett's Berkshire Hathaway has been making significant investments and acquisitions, including the acquisition of the Nebraska Furniture Mart and an $8 million bet on Major League Baseball. Buffett emphasized the importance of long-term thinking and risk management, stating that the stock market is a tool to transfer money from the impatient to the patient. Charlie Munger, Buffett's business partner, reiterated their commitment to ethical practices and the avoidance of self-enrichment through trading their own accounts. Munger also highlighted the potential impact of a single competitor on a business.
Charlie Munger, 2012 Berkshire Hathaway meeting: "We have found in a long life that one competitor is frequently enough to ruin a business."
Charlie Munger says there isn't the slightest chance Buffett traded own account to enrich himself https://t.co/3PCRPBbWsH
Warren Buffett, 2013 shareholder meeting: "I bet I’ve owned 400 or 500 [stocks] at one time or another, but most of the money’s been made in about ten of them."
Warren Buffett on risk management at Berkshire Hathaway (2012 meeting): "Your returns in 99 years out of 100 will probably be penalized by us being excessively conservative - and one year out of 100, we'll survive when some other people won’t."
Go against the grain (and often your instincts) by thinking long-term! “The stock market is a device to transfer money from the impatient to the patient.” Warren Buffett https://t.co/cjyVfyUxU0
Warren Buffett's Berkshire Hathaway made an $8 million bet on another American institution: Major League Baseball. https://t.co/jwgXQAdbrI
Charlie Munger says there isn't the slightest chance Buffett traded own account to enrich himself https://t.co/3PCRPBbWsH
Warren Buffett on the acquisition of the Nebraska Furniture Mart https://t.co/FWWQd1WBnS