Monday, 26 February 2018

8 memorable quotes from Warren Buffett's newest shareholder letter


Read? 8 memorable quotes from Warren Buffett's newest shareholder letter


 These three quotes; Uncle8888 can relate better. No parroting! Really doing them!

 2. “But Charlie and I sleep well. Both of us believe it is insane to risk what you have and need in order to obtain what you don’t need.”

 Buffett and Charlie Munger’s aversion to using leverage may have “dampened” their returns over the last 53 years, but the long-term focused investors don’t seem all that bothered by it.
5. “When major declines occur, however, they offer extraordinary opportunities to those who are not handicapped by debt.”

 Leverage might boost returns when prices go up, but it’s devastating when prices go down, which is when solvent investors are able buy cheaply.

 6. “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.”



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6 comments:

  1. Singapore Man of Leisure26 February 2018 at 10:03:00 GMT+8

    CW,

    temperament did free proofreading for me.

    Now I pay it forward too.


    Hello, duplicating point 5 twice does not count as 3 quotes lah!

    ReplyDelete
  2. Spur26 February 2018 at 16:27:00 GMT+8

    Uncle8888,

    There's this quote from 2017 shareholder letter that should be close to your heart too :)
    Having large war chest to prepare for next crisis!

    "During the 2008-2009 crisis, we liked having Treasury Bills – loads of Treasury Bills – that protected us from having to rely on funding sources such as bank lines or commercial paper. We have intentionally constructed Berkshire in a manner that will allow it to comfortably withstand economic discontinuities, including such extremes as extended market closures."

    And finally ... quite a feat (& luck & guts too!) for Buffett to skillfully guide $318K of his own money & $318K of Protege's into windfall of $2.22M for charity.

    Imagine if we could park $300K with Buffett on 1st Jan 2008 ... we'll have collected $1.1M in Jan 2018, LOL!!

    ReplyDelete
  3. Singapore Man of Leisure26 February 2018 at 16:28:00 GMT+8

    temperament,

    I like to give people nicknames to better remember them by.

    I used to call you the man of the cross.

    From now, I'll remember you as Mr Guts and Balls!

    LOL!


    P.S. Your're next! That was so funny!

    ReplyDelete