University of Berkshire Hathaway: 30 Years of Lessons Learned from Warren Buffett & Charlie Munger at the Annual Shareholders Meeting

by Daniel Pecaut

Unless you find yourself in the enviable position that Berkshire operates in, you would do well not to copy its moves.

Value is what a business is worth. Price is what you have to pay to get it.

Buffett said he pays no attention to economic outlooks. His decisions are based simply on intrinsic business values.

we simply attempt to be fearful when others are greedy and to be greedy only when others are fearful.

On the Ideal Business Buffett: “Something that costs a penny, sells for a dollar and is habit forming.”