Warren Buffett wrote in Berkshire Hathaway’s 1998 annual report that, when Berkshire owns shares of a wonderful business, “our favorite holding period is forever.” I greatly admire Warren Buffett. He is one of the great investors of all time. But I strongly disagree that the shares of most wonderful businesses can be held forever because most wonderful businesses become less wonderful over time—and many eventually run into difficulties.
Warren Buffett wrote in Berkshire Hathaway’s 1998 annual report that, when Berkshire owns shares of a wonderful business, “our favorite holding period is forever.” I greatly admire Warren Buffett. He is one of the great investors of all time. But I strongly disagree that the shares of most wonderful businesses can be held forever because most wonderful businesses become less wonderful over time—and many eventually run into difficulties.
