Deep

“Good behavior by each party begets good behavior in return.”
― Warren Buffett, Berkshire Hathaway Letters to Shareholders: 1965-2024

“You are imperfect, permanently and inevitably flawed. And you are beautiful.”
― Amy Bloom

“We tend to let our many subsidiaries operate on their own, without our supervising and monitoring them to any degree. That means we are sometimes late in spotting management problems and that both operating and capital decisions are occasionally made with which Charlie and I would have disagreed had we been consulted. Most of our managers, however, use the independence we grant them magnificently, rewarding our confidence by maintaining an owner-oriented attitude that is invaluable and too seldom found in huge organizations. We would rather suffer the visible costs of a few bad decisions than incur the many invisible costs that come from decisions made too slowly — or not at all — because of a stifling bureaucracy.”
― Warren Buffett, Berkshire Hathaway Letters to Shareholders: 1965-2024

“A by-product of our managerial style is the ability it gives us to easily expand Berkshire’s activities. We’ve read management treatises that specify exactly how many people should report to any one executive, but they make little sense to us. When you have able managers of high character running businesses about which they are passionate, you can have a dozen or more reporting to you and still have time for an afternoon nap. Conversely, if you have even one person reporting to you who is deceitful, inept or uninterested, you will find yourself with more than you can handle.”
― Warren Buffett, Berkshire Hathaway Letters to Shareholders: 1965-2024